NEW
Font size
WorksheetsEntrepreneurial Expedition
Total questions: 25
Worksheet time: 19mins
Which of the following is an example of a tax you must pay?
Bounced Check
Late Fee
Rental Payment
Social Security
Which of the following is a variable expense?
Student loan payments
Rental Payments
Groceries
Health Insurance
Which of the following is NOT a fixed expense?
Rental Payments
Movie Tickets
Cell Phone Bill
Internet Service
Which of the following is a fixed expense?
Clothing Purchases
Rental Payments
Movie Tickets
Groceries
What is income?
Income is payments you make to the federal government.
Income is money you receive after paying taxes.
Income is payments you make to the government to pay for roads, bridges, and schools.
Income is money you earn, usually from working at a job.
Which of the following would be an example of a NEED?
A warm winter coat
Designer shoes
Your favorite candy
A new pair of headphones
Which of the following would be an example of a WANT?
A place to live
Critical medicine
A warm winter coat
Movie tickets
What is a variable expense?
An expense that is the same during some months, and different during other months.
An expense that is the same from month to month
An expense that is different from month to month
None of the above
What is a fixed expense?
An expense that is the same during some months, and different during other months.
An expense that typically does not change month to month,
An expense that varies from month to month.
None of the above.
What is take home pay?
The amount you earn each month in income minus what you save.
The amount you earn each month in income minus what you spend.
The amount left over from your monthly paycheck before deductions.
The amount left over from your monthly paycheck after deductions.
What is the definition of an entrepreneur?
An entrepreneur is someone who creates, owns and potentially runs a business.
An entrepreneur is someone who manages a business.
An entrepreneur is someone who owns a business and makes profit from that business.
None of the above.
An example of an asset is:
Time
Money
A car
All of the above
Which of the following is NOT a true statement about business plans?
They should never be revised.
They can help lower the risk of starting a new business.
They are created before starting a business.
They should include an overview of your business goals and how you think you are going to achieve them.
What is the main difference between a characteristic and a skill?
You can learn a personal characteristic, but it is not possible to learn a skill.
Skills can be learned and developed while personal characteristics are inherent qualities within.
Personal characteristics become skills over time.
Many people are born with business skills but you can't be born with characteristics.
What role do entrepreneurs play in economics?
Entrepreneurs tell consumers what they should want or need.
Entrepreneurs create the businesses that produce products and services that meet the wants and needs of consumers
Entrepreneurs borrow money from the economy to start their businesses.
None of the above.
Which of the following is NOT a creative thinking exercise entrepreneurs use to generate ideas?
Challenge the Usual
Think Backward
Judge Each Idea as Realistic or Not
Draw Idea Maps
What are the four parts of a SWOT Analysis?
Sales, Work Ethic, Organization, Training
Strengths, Weaknesses, Obstacles, Threats
Strengths, Weaknesses, Opportunities, Threats
Strengths, Weaknesses, Options, Threats
Which of these is NOT part of a consumer profile?
Demographics
Polygraphics
Psychographics
Buying Patterns
Which of the following is a fixed expense for Maria's sandwich food truck?
Salaries for her employees
Truck insurance
Advertising
All of the above
Which of the following is a start-up expense for Maria's food truck?
Kitchen appliances and other equipment needed to conduct her business
Cell phone bill
Gas
All of the above
Your friend is developing a marketing plan for her new business. What should she put in this plan?
Where she wants to sell her product
The price of her product
A description of the people in her target market
All of the above
What is the main purpose of developing a business pitch?
To tell investors all the important details and goals of your business so they don't need to read the business plan.
To provide customers with an in-depth description of how your business was formed.
To briefly share the most important information about your business to people in an engaging way.
To determine whether your business idea is a business opportunity.
Which of the following is probably NOT an important point to include in a business pitch?
A detailed description of the meaning behind the company's name.
The problems that the product or service solves or the demands it meets.
How the product or service is different.
Clear reasons why the potential customers and investors should care about the business.
Why is it important to conduct market research on your target audience before building your marketing plan?
Newspapers and magazines will give you a discount on advertisements if you show them your research.
You need to consider who your potential customers are before deciding on marketing strategies.
Customers enjoy sharing their opinions, so market research will make your product sell more.
It doesn't matter which one you do first.
What happens if you spend money on things you want before things you need?
You'll be financially prepared for an unexpected emergency, like a broken leg or hospital stay.
You are able to to spend more on high-priced items, like higher education.
Nothing happens, this is an appropriate practice.
You limit your ability to save for high-priced items, like higher education.
