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WorksheetsESB POP QUIZ DOMAIN 1
Total questions: 15
Worksheet time: 8mins
What would be B2B?
Business to Business
wholesale flooring distributor
motorcycle repair shop
Franchise restaurant
chain of local grocery shops
A corporation, partnership, or sole proprietorship that is privately owned by one individual or a small group of people. They commonly have fewer employees and revenue than larger-sized businesses.
Small Business
Entrepreneur
Franchise
A business that takes its name and characteristics from an existing business chain.
(a)
In general, what defines a small business?
non-profit
less than 1500 employees
no more than $200,000 in sales
Opening a single McDonald's store
What would be B2C?
Business to Consumer
wholesale flooring distributor
motorcycle repair shop
Plumbing contractor
7/11 Cups distributor
Successful entrepreneurs have mindsets that typically possess what characteristics?
tenacious, responsible, adaptable
Nervous, shy, non talkative
Flexible, confident, negative
Stubborn, communicative, authrotative
Which one is the greatest benefits of being an entrepreneur?
quick return on investment
paying less on taxes
meeting new people
schedule control
Which one of these is a characteristic of a successful entrepreneur mindset?
doesn't give up easily
makes friends quickly
likes to argue
lives in a dreamworld
What is the greatest risk of being an entrepreneur?
loss of experience
damage to reputation
financial instability
no control over schedule
What is the main difference between small business owners and entrepreneurs?
entrepreneurs are focused on generating profits.
Small business owners are not always interested in taking on new business opportunities
small business owners are more willing to take on unknown risks
What is a tangible item?
Product
Service
A Netflix subscription is an example of what type of product?
Digital
Tangible
A common financial risk that entrepreneurs face is
higher taxes
higher income
bankruptcy
high maintenance cost
Which of the following is not a disadvantages of selling physical products?
needing storage space for inventory
physical products tend to have a lower value
packaging and shipping costs
needing employees to track supply/inventory
Which of these is a benefit of being an entrepreneur?
working with like minded people
Steady pay
Lower income tax
Easy work days
