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Entrepreneurship Terms

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

What is a person who organizes and operates a business?

a)

Investor

b)

Entrepreneur

c)

Businessman

2.

What is specific good or service that is available to consumers?

a)

Demand

b)

Supply

c)

Capital

3.

What is the action or business of promoting and selling products or services?

a)

Customer Service

b)

Sales & Advertising

c)

Marketing

4.

What is an item offered for sale?

a)

Product

b)

Merchandise

c)

Supply

5.

What is the loss of choosing NOT to do a beneficial activity?

a)

Product

b)

Asset

c)

Opportunity Cost

6.

What is a resource with economic value that will provide a future benefit?

a)

Investment

b)

Asset

c)

Liability

7.

What does it mean when consumers' desire to purchase goods and services at given prices?

a)

Demand

b)

Supply

c)

Product

8.

What is it to be in short supply or limited in resources?

a)

Entrepreneurship

b)

Supply

c)

Scarcity

9.

What is the money a company has available to pay for its day-to-day operations and to fund its future growth?

a)

Capital

b)

Investment

c)

Earnings

10.

What is the cost of carrying/continuing on a trade or business?

a)

Liability

b)

Scarcity

c)

Expenses