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Hele Long Quiz

Total questions: 68

Worksheet time: 34mins

Name
Class
Date
1.

A person who is associated with starting a business is know as

a)

Merchant

b)

Entrepreneur

c)

Salesman

d)

Businessman

2.

SWOT analysis s stands for ?

a)

Success

b)

Strength

c)

Strategy

d)

Survey

3.

Paid form of goods, services and idea is called?

a)

Publicity

b)

Goodwill

c)

Public relations

d)

Advertisement

4.

MSME stands for

a)

Micro,scale, and medium Enterprise

b)

Macro, small and medium Enterprise

c)

Micro,small and medium Enterprise

d)

Minor,small and medium Enterprise

5.

Which one is web based accounting software designed for modern business?

a)

Busy

b)

Tally

c)

CAD

d)

Wings

6.

In SWOT analysis which pair is helpful?

a)

Strengths, weakness

b)

Strength and opportunity

c)

Threats, weakness

d)

Threats , opportunity

7.
Most entrepreneurs start what type of business?
a)
Partnership
b)
Corporation
c)
Sole Proprietorship
8.
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.
9.
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
10.
An entrepreneur must be...
a)
disorganized
b)
organized
c)
lazy
11.
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
12.
A business owned and run by 2 or more people is called...
a)
Partnership
b)
Sole Proprietorship
c)
Corporation
13.
A business owned and run by 2 or more people is called...
a)
Partnership
b)
Sole Proprietorship
c)
Corporation
14.
One benefit of starting a corporation is...
a)
You are the only one responsible
b)
There is limited liability
c)
You have to come up with ALL of the start money
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.
The most difficulty type of company to start is a...
a)
Sole proprietorship
b)
Partnership
c)
Corporation
17.

What challenges does an entrepreneur have?

a)

all of the above

b)

drive

c)

responsibility

d)

money

18.

True or False. Only adults can be entrepreneurs. Kids are too young.

a)

True

b)

False

19.

What is ONE quality of an entrepreneur?

a)

flexibility

b)

honesty

c)

money

d)

attitude

20.

What entrepreneur qualities do YOU need ?

a)

Determination

b)

Self-discipline

c)

Team-working skills

d)

All of the above

21.

Most of the people who does business have this with them. What is it called?

a)

Candy Store Board

b)

Party Invitation

c)

Business Card

d)

Business License

22.

Natalia bought an iPad from Shoppe. He received a broken iPad when he opened his packaging. He is upset and angry.

If you are the owner of the store, how will you deal with this problem?

a)

Shout back at Jonah and ask him to apologies for being rude.

b)

Apologies and replace the broken item with a new one.

c)

Apologies, cry and run away.

d)

Shut the doors and put up the CLOSED sign.

23.

Advertisements can be done through

a)

videos, radios and posters

b)

internet only

c)

shouting out loud to passerby

d)

store boards only

24.

Which of these is NOT a skill of an entrepreneur?

a)

Creativity

b)

Sleeping

c)

Interpersonal Skills

d)

Organization

25.

Confidence is:

a)

believing in your own skills and that your product will be a success.

b)

thinking of new ideas or new ways of doing things.

c)

not being afraid of things going wrong.

26.

Independence is:

a)

not being afraid of things going wrong.

b)

liking to be in charge and not liking being told what to do.

c)

believing in your own skills and that your product will be a success

27.

Being held accountable is what characteristic?

a)

Independent

b)

Self-Confident

c)

Responsible

d)

None of the answers

28.

Looking at new ways of doing things, developing solutions to problems is what characteristic?

a)

Goal-Oriented

b)

Creative

c)

Responsible

d)

Independent

29.

An individual who undertakes the risk associated with creating, organizing, and owning a business is?

a)

a trained salesperson

b)

an entrepreneur

c)

Mathematician

d)

a farmer

30.

Not afraid to do new things is what characteristic?

a)

Problem-solving & Decision-making Skills

b)

Independent

c)

Human Relations Skills

d)

Risk Taker

31.

Not giving up and keep trying is what characteristic?

a)

Persistent

b)

Creative

c)

Self-Confident

d)

Responsible

32.

Resourcing is when the entrepreneur finds resources like capital, people, and equipment to start the business.

a)

True

b)

Fasle

33.
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
34.
Entrepreneurs are people that notice opportunities and take the initiative to mobilize resources to make new goods and services.
a)
True
b)
False
35.
Intrapreneurs also notice opportunities and take initiative to mobilize resources, however they work in large companies and contribute to the innovation of the firm.
a)
True
b)
False
36.
Entrepreneurs are Made, Not Born!
a)
True
b)
False
37.
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
38.
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
39.
New industries are born when technological change produces a new opportunity that an enterprising entrepreneur seizes.
a)
True
b)
False
40.
A dynamic process of vision, change, and creation.
a)
Entrepreneurship
b)
Entrepreneur
c)
Intrapreneur
41.
It is the process by which entrepreneurs convert opportunities into marketable ideas.
a)
Innovation
b)
Successful
c)
Ideas
42.
Totally new product, service, or process
a)
Invention
b)
Expansion
c)
Evolution
43.
Creative replication of an existing concept
a)
Duplication
b)
Extension
c)
Innovation
44.
New use or different application of an already existing product, service,
or process
a)
Extension
b)
Evolution
c)
Procedures
45.
______ whose goal is to create or capitalize on new economic opportunities through innovation En
a)
Person
b)
Animals
c)
Robot
46.
______ through which entrepreneurs create and grow enterprises
a)
Process
b)
Creation
c)
Modified
47.
______ where significant economic and social entrepreneurial activity exists within an effective system of public and private support En
a)
Community
b)
Buyer
c)
Place
48.

Which is my company?

a)
b)
c)
d)
49.

Which is my company?

a)
b)
c)
d)
50.

Which is my company?

a)
b)
c)
d)
51.

Which is my company?

a)
b)
c)
d)
52.

Name my Company

a)

Goldilocks

b)

Starbucks

c)

Dunkin Donut

d)

Pizza Hut

53.

Name my Company

a)

Goldilocks

b)

Starbucks

c)

Dunkin Donut

d)

Pizza Hut

54.

Name my Company

a)

Goldilocks

b)

Starbucks

c)

Dunkin Donut

d)

Pizza Hut

55.

Name my Company

a)

Goldilocks

b)

Starbucks

c)

Dunkin Donut

d)

Pizza Hut

56.

Name my Company

a)

Goldilocks

b)

Starbucks

c)

Shoppee

d)

Pizza Hut

57.

It is easier to work on something that you are already passionate.

a)

True

b)

False

58.

It is easier to work on something that you are already passionate.

a)

True

b)

False

59.

The difference of all the costs determines the wholesale price of product.

a)

True

b)

False

60.

Use your resourcefulness in selecting material for your product.

a)

True

b)

False

61.

One of the guides in producing simple product is creating one's own design

a)

True

b)

False

62.

Products that are always in demand are food items.

a)

True

b)

False

63.

When you own a business, you get to be your own boss.

a)

True

b)

False

64.

A facility supplying a public or market demand is called product.

a)

True

b)

False

65.

Promote your product either by using print materials, online or during school and community programs.

a)

True

b)

False

66.

Start producing products in big quantities.

a)

True

b)

False

67.

Packaging must be a good quality to affect its sale ability.

a)

True

b)

False

68.

A person who organizes and operates a business to benefit from an opportunity, rather than working as an employee

a)

Enterprenuer

b)

Enterprenuership

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