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WorksheetsEntrepreneurship
Total questions: 25
Worksheet time: 15mins
Name
Class
Date
1.
Business entity that is easy to start and has a single owner.
a)
sole proprietorship
b)
partnership
c)
limited liability company
d)
corporation
2.
Business entity with two or more owners that share the company's profits and losses.
a)
proprietorship
b)
partnership
c)
limited liability company
d)
corporation
3.
Business entity that is usually owned by multiple stockholders and operates as a separate legal entity.
a)
proprietorship
b)
partnership
c)
limited liability company
d)
corporation
4.
What does limited liability mean?
a)
A business can only borrow a limited amount of money from a bank.
b)
The business has a limited number of partners.
c)
If the business fails, the onwers may lose the money they invested but none of their personal possessions.
5.
What is a franchise?
a)
The right to vote
b)
A new business started from scratch by an entrepreneur.
c)
A book or movie series.
d)
A contract allowing an entrepreneur to open a location of an established business.
6.
A person who organizes and runs his or her own business
a)
President
b)
entrepreneur
c)
employee
d)
entrepreneurship
7.
The process of starting a new business
a)
apprenticeship
b)
entrepreneurship
c)
internship
d)
job
8.
These are all characteristics of a entrepreneur, except
a)
Flexible
b)
Confidence
c)
Innovative
d)
Lazy
9.
A physical reaction to a difficult or demanding situations
a)
happy place
b)
emotion
c)
stress
d)
empathy
10.
The symbolic embodiment of all the information connected with a product or service is the business brand.
a)
true
b)
false
11.
A business that performs tasks for customers.
a)
retail business
b)
service business
c)
franchise
d)
corporation
12.
The right to sell a company's products in a specified area.
a)
sole proprietorship
b)
corporation
c)
franchise
d)
retail business
13.
A business that sells products like food, clothing, and cars.
a)
retail business
b)
service business
c)
franchise
d)
corporation
14.
A business that can legally act as a single person, even though many people may own it.
a)
Corporation
b)
Entrepreneurship
c)
Franchise
d)
Partnership
15.
Entrepreneurs look for business ideas and new and better ways to solve problems.
a)
True
b)
False
16.
Some people become entrepreneurs by turning part-time work experiences into full-time businesses.
a)
True
b)
False
17.
Owners of stock in a company
a)
partnership
b)
sole proprietorship
c)
stockholders
d)
corporation
18.
Name one of the reasons people become entrepreneurs.
a)
Feeling insecure
b)
They like to be the ONLY one doing everything
c)
They are doing what they enjoy
d)
They are lazy
19.
An entrepreneur must be...
a)
disorganized
b)
organized
c)
lazy
d)
hard to get along with
20.
An entrepreneur can own an online business...
a)
False - entrepreneurs can only create business in person
b)
True - there are companies online as well as in person
21.
A Business Plan is a written document that defines the goals of your business and describes how you will attain those goals.
a)
True
b)
False
22.
Describes the target market for your product and explains how you will reach that market.
a)
The Marketing Plan
b)
Overview of the Business
c)
The Financial Management Plan
23.
Disadvantages to purchasing this type of business includes extremely high start-up cost and royalty fees
a)
Corporation
b)
Franchise
c)
Partnership
d)
Sole Proprietor
24.
The individuals or companies that are interested in a particular product or service an are willing and able to pay for it
a)
Target market
b)
Sole proprietor
c)
Equity
d)
Partnership
25.
_________________ is a description of the characteristics of a person/business likely to purchase a specific product or service
a)
Customer profile
b)
Corporation
c)
Partnership
d)
Market segment
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