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hele 6 business/ entrepreneur

Total questions: 50

Worksheet time: 50mins

Name
Class
Date
1.

Displays hard work and perseverance in the face of challenges; utilizes skills to diligently carry out asks or make goods.

a)

Industrious

b)

Innovative

c)

Honest

d)

Caring

2.

has the ability to envision future needs or demands and create new opportunities, products, and services to meet these demands.

a)

Persistent

b)

Innovative

c)

Helpful

d)

faith in goodness

3.

Does not engage in deceptive or fraudulent acts; displays sincerity at all times.

a)

Organized yet flexible

b)

confident

c)

Honest

d)

strategist

4.

Is well-trained and possesses information and understanding of concepts necessary to run a business venture

a)

risk taker

b)

Knowledgeable

c)

Prudent

d)

Honest

5.

A money, property or resources by individual for business is called ....

a)

Profit

b)

Capital

c)

Expenditures

6.

A person who innovates, organizes and manages any enterprise is called.....

a)

Philanthropist

b)

Seller

c)

Entrepreneur

7.

Sell expensive products in your store.

a)

TRUE

b)

FALSE

8.

Sell products in cash basis so that you maintain your stocks.

a)

TRUE

b)

FALSE

9.
An entrepreneur is someone 
a)
Someone who works for a new business
b)
Someone who starts a new business
c)
Someone who takes over an existing business
d)
Someone who does not want to work
10.
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.
11.
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
12.
An entrepreneur must be...
a)
disorganized
b)
organized
c)
lazy
13.
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
14.

It is pre-determined course of action to accomplish the set objectives; it is projecting things today and the future activity of the future. An entrepreneur has to make decisions as to what, how, when, where and whom it is to be done.

a)

Planning

b)

Organizing

c)

Management

d)

Innovation

15.

It is where the entrepreneur discovers, change, update or invent new product for their business. It is being with the trend in our world to improve his/her competitive position and increase earnings.

a)

Planning

b)

Organizing

c)

Management

d)

Innovation

16.
Entrepreneurs work until the job is done.
a)
Persistent
b)
Inquisitive
c)
Self Confident
d)
Creative
17.

Paid form of goods, services and idea is called?

a)

Publicity

b)

Goodwill

c)

Public relations

d)

Advertisement

18.
What do you call a written document that outlines a business's objectives and the strategy and tactics that it will use to achieve those objectives over anywhere from a three to five year period of time.
a)
A business plan
b)
A medium term plan
c)
A strategic plan
d)
An SBA certified business plan
19.
Why is being an entrepreneur risky?
a)
Because there are no more creative enterprises to create a business out of.
b)
Because entrepreneurs always fail.
c)
Because you often risk your own personal wealth.
d)
Because people don't trust entrepreneurs.
20.
Why is creating an entrepreneurial team a good idea?
a)
Because it increases your investments.
b)
Because entrepreneurs prefer to work with people.
c)
Because it ensures your business will be a success.
d)
Because you spread out the risk and use each other's skills.
21.
Money needed to start or expand a business?
a)
Loan
b)
Financial Capital
c)
Savings
d)
Venture Capitalist
22.
The process of turning an invention into a marketable  product
a)
Entrepreneurship
b)
Innovation
c)
Modification
d)
Deviation
23.

What are the two types of ways to make money?

a)

Product and Surveys

b)

Product and Service

c)

Payment and Service

d)

Paypal and Service

24.

What is a product?

a)

Do work for others and get paid for doing it.

b)

Do work for others and get nothing for doing it.

c)

Make or gather something that others are forced to buy

d)

Make or gather something that others are willing to buy

25.

What is a service?

a)

Do work for others and get paid for doing it.

b)

Do work for others and get nothing for doing it.

c)

Make or gather something that others are forced to buy

d)

Make or gather something that others are willing to buy

26.

What is he selling?

a)

Product

b)

Service

27.

What is he selling?

a)

Product

b)

Service

28.

What do you call a person who offers products or services in exchange for payment or money?

a)

Seller

b)

Buyer

c)

manager

d)

Entrepreneur

29.

What do you call a person that acquires possession of rights to the use or services in exchange for payment or money?

a)

Seller

b)

Buyer

c)

Manager

d)

entrepreneur

30.

Which of these is NOT a skill of an entrepreneur?

a)

Creativity

b)

Interpersonal Skills

c)

Organisation

d)

Sleeping

31.

Entrepreneurs should be?

a)

Stylish

b)

Lazy

c)

Creative

d)

Competitive

32.

An actual or nominal place

where forces of demand and

supply operate, and where

buyers and sellers interact

a)

Workplace

b)

Galaxy

c)

Market

33.

Should we sells products that have already expired?

a)

Yes

b)

No

c)

Maybe

34.

An entrepreneur is inventive and creative, always making something new for his/her products to stay in the market.

a)

Proactive

b)

Innovative

c)

Persistent

35.

An ideal entrepreneur is a careful planner. He/She sees the vision and direction his business is going ; therefore, methods and contingencies are put in place.

a)

Strategist

b)

Confident

c)

Honest

36.

What is left after the business pays for everything it uses to provide goods and services.

a)

cash

b)

capital

c)

profit

d)

resource

37.

Who are the people who buy a good or service?

a)

manager

b)

employee

c)

consumer

d)

entrepreneur

38.

Which is NOT a factor of production?

a)

land

b)

profit

c)

labor

d)

capital

39.

If you are an entrepreneur, you will

a)

take a risk

b)

spend all of your savings

c)

borrow from investors

d)

alll of the above

40.

A good is something a person can buy. Which is not an example of a good?

a)

cell phone

b)

car

c)

shoes

d)

teacher

41.

What is the need for a product or service that people are willing to pay for?

a)

good

b)

supply

c)

demand

d)

specialty

42.

Goods are things people buy. Which is an example of a good?

a)

computers

b)

games

c)

television

d)

all of the above

43.
Entrepreneurs are Made, Not Born!
a)
True
b)
False
44.
A step-by-step outline of how an entrepreneur or the owner of an enterprise expects to turn ideas into reality.
a)
Business Plan
b)
Outcome
c)
Output
45.
A dynamic process of vision, change, and creation.
a)
Entrepreneurship
b)
Entrepreneur
c)
Intrapreneur
46.
______ where significant economic and social entrepreneurial activity exists within an effective system of public and private support En
a)
Community
b)
Buyer
c)
Place
47.

At what age can you become an entrepreneur?

a)

20

b)

18

c)

50+

d)

any age

48.

What are the two types of ways to make money?

a)

Product and Surveys

b)

Product and Service

c)

Payment and Service

d)

Paypal and Service

49.

What is a product?

a)

Do work for others and get paid for doing it.

b)

Do work for others and get nothing for doing it.

c)

Make or gather something that others are forced to buy

d)

Make or gather something that others are willing to buy

50.

An entrepreneur invests

a)

money, time, and energy

b)

food, money, and a car

c)

a checking account and steady hand

d)

money, liesure, and clothes

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