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Entrepreneurship Pre-test

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

The definition of an entrepreneur is a person who

a)

Provides entertainment to people in a variety of ways

b)

Is active in their community and encourages business owners.

c)

Works for a large company creating new products.

d)

Is willing to take a risk in the hunt for new adventures

2.

What might be a motivation to become an entrepreneur?

a)

Lack of Responsibility

b)

Risk of financial ruin

c)

Being your own boss

d)

Doing paperwork

3.

Which kind of business opportunity is like buying a business kit?

a)

Buying a franchise

b)

Buying and existing business

c)

Starting a new business from scratch

d)

Starting a small business in your garage

4.

Which type of business is being described:  They may have equal responsibilities in the daily operations of the business or they may have an agreement where one has more responsibility than the others.

a)

Sole Proprietorship

b)

Partnership

c)

LLC

d)

Corporation

5.

Which type of business is being described: A formal, legal structure that takes on its own identity. In legal terms, it has similar rights and responsibilities as a person has.

a)

Sole Proprietorship

b)

Partnership

c)

LLC

d)

Corporation

6.

Which type of business is being described:  These tend to be very small businesses, often based in a home office – and they generally have few sales or much of the market-share.

a)

Sole Proprietorship

b)

Partnership

c)

LLC

d)

Corporation

7.

Most businesses in the U.S. would be classified as a(n)

a)

Sole Proprietorship

b)

Partnership

c)

LLC

d)

Corporation

8.

If a business wants to expand to a new country, but they may have to deal with additional factors such as tariffs or tax rates, which type of entrepreneurial risk is that?

a)

Financial Risk

b)

Strategic Risk

c)

Political Risk

d)

Competitive Risk

9.

Which reward of entrepreneurship is being described: The entrepreneur has control over when they work and set their own boundaries.

a)

Fulfilling

b)

Control

c)

Work-life Autonomy

d)

Personal Growth

10.

Which of these is not a characteristic of an entrepreneur

a)

risk taker

b)

fearful

c)

self-starter

d)

good communicator

11.

In regards to entrepreneurship, what does SBA stand for?

a)

Small Business Administration

b)

Strategic Business Alliance

c)

Small Business Alliance

d)

Strategic Business Administration

12.

What is the practice among those with power or influence of favoring relatives or friends, especially by giving them jobs.

a)

Nepotism

b)

Espionage

c)

Discrimination

d)

Unethical Leadership

13.

The Red Cross organization is an example of:

a)

Nonprofit Business

b)

Corporation

c)

Partnership

d)

LLC

14.

How long is a copyright protected for

a)

Forever

b)

Creation until 70 years after the author's death

c)

10 years

d)

70 years

15.

Is the "Reese's Orange" color copyrighted, trademarked, or patented?

a)

Copyright

b)

Trademark

c)

Patent