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Entrepreneurship

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.
The act of assuming the risk of organizing productive resources to produce goods and services.
a)
business
b)
critical thinking
c)
entrepreneurship
d)
risk management
2.
Who created Facebook?
a)
Mark Zuckerberg
b)
Elon Musk
c)
JK Rowling
d)
Walt Disney
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 is an entrepreneur?
a)
A person who is in charge of a specific location.
b)
A person who works for someone else in order to learn skills.
c)
A person who organizes and operates a business or businesses.
d)
None of these
5.
Which is NOT a common characteristic of an entrepreneur?
a)
risk-taker
b)
creative
c)
organized
d)
irresponsible
6.
An entrepreneur is someone who works for themselves.
a)
True
b)
False
7.
Most entrepreneurs work long hours, but they create their own schedule.
a)
True
b)
False
8.
ALL entrepreneurs have a college degree.
a)
True
b)
False
9.
How do many people become millionaires?
a)
They save aggressively.
b)
They avoid debt.
c)
The invest their money.
d)
All of these
10.

Which is a characteristic of a successful entrepreneur?

a)

Motivated

b)

Takes very little risk

c)

Passionate

d)

Hard-working

11.

A target market is

a)

a group of investors willing to put capital into a business

b)

a generational group of individuals

c)

a group of consumers at which a product/service is aimed

d)

an industry willing to sell and market your product

12.
Which type of business does this image represent? 
a)
Wholesale
b)
Retail
c)
Service
d)
Manufacturing
13.
The act of assuming the risk of organizing productive resources to produce goods and services.
a)
business
b)
critical thinking
c)
entrepreneurship
d)
risk management
14.

Entrepreneurs create ____________________ for themselves and others.

a)

wealth

b)

risk

c)

plans

d)

none of these

15.

Which trait or characteristic would describe a successful entrepreneur?

a)

Lazy

b)

Shy

c)

Bossy

d)

Self Starter

16.

What % of small businesses will fail in the first five years?

a)

30%

b)

15%

c)

50%

d)

70%

17.

60% of __________________ fail in the first three years

a)

Coffee shops

b)

Restaurants

c)

Retail shops

d)

Manufacturing plants

18.

What % of jobs are created by small businesses?

a)

60%

b)

50%

c)

80%

d)

30%

19.

What are the four P's of marketing

a)

product, produce, production, price

b)

person, place, produce, practice

c)

promotion, product, practice, price

d)

promotion, place, price, product

20.
A new or different product
a)
Harvesting
b)
Innovation
c)
Opportunity
d)
Risk