WorksheetsEntre 2
Total questions: 33
Worksheet time: 17mins
Which of the
following is part of the entrepreneurial discovery process?
Discovering different businesses
Raising start-up capital
Finding partners
Recognizing a need or want not being met
Which of the following is described in the operations
section of a business plan?
Trade area analysis
Business location
Management team
Competition
Which of the following is not a method to generate business
ideas?
Look at old things in new ways
Ignore common problems and obstacles
Brainstorm ideas
Capitalize on your hobbies
A group discussion where individuals generate as many ideas as possible is ____.
conferencing
brainstorming
chatting
analyzing
For which of the following problems is brainstorming not a
useful tool?
Identifying potential solutions to a problem
Identifying issues and opportunities
Generating new ideas
Identifying target markets
A group of businesses that provide a particular product or
service is referred to as a(n) ____.
partnership
corporation
monopoly
industry
An accountant completing your tax return is an example of which of the following?
Product
Service
Supply
Demand
Which of the following economies is found primarily in
countries with mostly rural populations?
Mixed economy
Command economy
Traditional economy
Market economy
Natural, human, and capital resources are all ____.
unlimited resources
economic resources
scarce resources
traded resources
Which of the following is not a natural resource?
Cement
Wood
oil
water
Which of the following is not typically provided by a franchisor?
Training
Start-up capital
Brand recognition
Products or services
Which of the following actions can help prevent a new business from failing?
Overestimating the probable profits
Conducting a feasibility analysis
Forecasting the need for less start-up cash
Ignoring SBA regulations
Which section of a business plan should be written last, even though it is at the beginning of a business plan?
Financial plans
Business description
Market evaluation
Executive summary
The business’s vision statement, mission statement, and goals are included in which section of a business plan?
Table of contents
Business description
Market evaluation
Executive summary
The ____ is a message to customers that explains how the business adds value to their lives.
mission statement
vision statement
goals
target market
The target market, industry conditions, and competition are included in which section of a business plan?
Business description
Financial plans
Operations
Market evaluation
Profit is ____.
earnings from the sale of goods and services
money moving into and out of a business
the difference between income earned and expenses incurred
None of the above
The general category of operations that generates profit is ____.
the nature of business
production
finance
marketing
Privately owned businesses operate to make a profit with limited government regulation
traditional economy
command economy
market economy
mixed economy
System in which citizens have just enough to survive.
traditional economy
command economy
market economy
mixed economy
Both government and the private sector make decisions about providing goods and services
traditional economy
command economy
market economy
mixed economy
The science of examining how goods and services are produced, sold, and used.
economics
command economy
market economy
mixed economy
The government determines what goods are produced, how much is produced, and the prices.
traditional economy
command economy
market economy
mixed economy
A large number of small businesses sell similar products at different prices
oligopoly
monopoly
perfect competition
monopolistic competition
A small number of large companies selling same or similar products
oligopoly
monopoly
perfect competition
monopolistic competition
A large number of small businesses selling identical products for the same prices.
oligopoly
monopoly
perfect competition
monopolistic competition
How a market is organized, based on the number of businesses competing for sales in an industry.
oligopoly
monopoly
perfect competition
market structure
One business has complete control of a market’s entire supply of goods or services.
oligopoly
monopoly
perfect competition
market structure
Should only be two pages and provides an overview of the business.
title page
table of contents
executive summary
business description
Includes the vision statement, mission statement, and the goals of the business.
title page
table of contents
executive summary
business description
Describes the organizational structure of the business.
Financial plans
Operations
Market evaluation
executive summary
Includes the sources of start-up capital and future plans
Financial plans
Operations
Market evaluation
executive summary
Includes an analysis of the industry conditions, target market, and competition.
Financial plans
Operations
Market evaluation
executive summary
