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Worksheets

Unit 1 - 1

Total questions: 10

Worksheet time: 4mins

Name
Class
Date
1.

The economist who explained that economic

growth is started by entrepreneurs who produce goods

not only for personal profit but also for the good of everyone around them.

a)

John Maynard Keynes

b)

Elinor Ostrom

c)

Joseph Schumpeter

d)

Alfred Marshall

2.

It is a self starter start up

a)

small business

b)

mainstream

c)

growth

d)

global

3.

The following are the reasons why Start Up for Ken Singer is an act of rebellion, except?

a)

Threatens the incumbents

b)

It rejects existing insufficient concepts

c)

Undermines competition

d)

It uses market dominance

4.

The selling of merchandise and certain services to consumers. It ordinarily involves the selling of individual units or small lots to large numbers of customers by a business set up for that specific purpose

a)

Retailing

b)

Wholesaling

c)

Manufacturing

d)

Services

5.

An enterprise composed of a professional or team of experts that deliver work or aid in completing a task for the benefit of its customers.

a)

Retailing

b)

Wholesaling

c)

Manufacturing

d)

Services

6.

the process of turning raw materials or parts into finished goods through the use of tools, human labor, machinery, and chemical processing.

a)

Retailing

b)

Wholesaling

c)

Manufacturing

d)

Services

7.

The act of buying goods in bulk from a manufacturer at a discounted price and selling to a retailer for a higher price, for them to repackage and in turn resell in smaller quantities at an even higher price to consumers.

a)

Retailing

b)

Wholesaling

c)

Manufacturing

d)

Services

8.

A person that takes initiative to bundle resources in innovative ways and is willing to bare the risk of uncertainty.

a)

Entrepreneur

b)

Innovator

c)

Manufacturer

d)

Retailer

9.

A new business undertaking that involves risk

a)

Mainstream

b)

Venture

c)

Global

d)

Growth

10.

An independently owned business that has the owner as a manager

a)

Small business

b)

Mainstream

c)

Growth

d)

Global