wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Entrepreneurship Final Exam Study Guide 1

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.

Which is a characteristic of a successful entrepreneur?

a)

Motivated

b)

Takes very little risk

c)

Passionate

d)

Hard-working

9.

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

10.
Which type of business does this image represent? 
a)
Wholesale
b)
Retail
c)
Service
d)
Manufacturing
11.

Which trait or characteristic would describe a successful entrepreneur?

a)

Lazy

b)

Shy

c)

Bossy

d)

Self Starter

12.

Entrepreneurs create ____________________ for themselves and others.

a)

wealth

b)

risk

c)

plans

d)

none of these

13.
Most entrepreneurs start what type of business?
a)
Partnership
b)
Corporation
c)
Sole Proprietorship
14.
An entrepreneur must know...
a)
Only the parts of the business they like
b)
No parts of the business management
c)
all parts of business:  finance, marketing, etc.
15.
A negative (drawback) of starting a sole proprietorship is...
a)
You have to raise ALL of the money yourself
b)
You make all of the decisions
c)
All of the profits belong to you
16.

A business partnership has ___________ who share the risks and the profits.

a)

One owner

b)

No more than three owners

c)

Two or more owners

d)

Five or more owners

17.

What are the 4 Types of Businesses Entrepreneurs start?

a)

Trade Associations, Local Clubs, Retail, and Wholesalers.

b)

Retail, Service, Trade Associations, and Banks.

c)

Retail, Service, Manufacturing, and Wholesaling

d)

Local Unions, Banks, Trade Associations, Retail.

18.

A business that makes items using raw materials and sells those goods to others.

a)

Trade Association

b)

Retail

c)

Wholesaler

d)

Manufacturer

19.

A business that buys goods and resells the goods directly to consumers.

a)

Retailer

b)

Service buiness

c)

Wholesaler

d)

Manufacturer

20.

Business that buys goods in large quantities, typically from manufacturers and resells them in smaller batches to retailers.

a)

Retail

b)

Wholesaler

c)

Service business

d)

Manufacturer