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WorksheetsQUIZ MPU22012 DKM5B
Total questions: 20
Worksheet time: 11mins
An individual who starts, creates and manages a new business can be called.
A. A leader
B. A manager
C. A professional
D. An entrepreneur
Which could provide an individual with the motivation to start a new business
venture?
i. The financial rewards.
ii. A desire to be independent.
iii. Risk taking
iv. Give back to the community and make an impact
A. i & ii.
B. ii & iii
C. iii & iv
D. All the above.
Which industrial sector promotes small-scale businesses and Entrepreneurship, and
has lower barriers to market entry?
A. Service.
B. Manufacturing.
C. Distribution.
D. Agriculture.
Why are small businesses important to a country's economy?
i. They give an
outlet for entrepreneurs.
ii. They can provide specialist support to larger companies.
iii. They can be innovators of new products.
iv. Job creation for the local community.
A. i & ii
B. ii & iii
C. iii & iv
D. All the above
A business arrangement where one party allows another party to use a business
name and sellits products or services is known as .
A. A cooperative.
B. A franchise.
C. An owner-manager business.
D. A limited company.
Which of the following is the reason for business failure .
i. Lack of
market research.
ii. Poor financial control.
iii. Poor management.
iv. A faulty business model
A. i & iii
B. ii & iv
C. i, ii & iii
D. All the above
The use of informal networks by entrepreneurs to gather information is known as
A. Secondary research.
B. Entrepreneurial networking.
C. Informal parameters.
D. Marketing
Which of these statements best describes the context for entrepreneurship?
A. Entrepreneurship takes place in small businesses.
B. Entrepreneurship takes place in large businesses.
C. Entrepreneurship takes place in a wide variety of contexts.
D. Entrepreneurship does not take place in social enterprises.
Which of the following statements is false?
A. Market segmentation is a useful process for small businesses to undertake.
B. Selling is essentially a matching process.
C. A benefit is the value of a product feature to a customer.
D. It is a good idea for small businesses to compete solely on price.
Which of these statements best describes the context for ethics, professionalism and social responsibilities for entrepreneurs
i. Must operate legally, ethically, and humanely
ii. Product safety and quality.
iii. Fair employment practices.
iv. Fair marketing and selling practices.
A. i, iii
B. ii,iv
C. i,iii,iv
D. i,ii,iii,iv
Innovation can best be defined as .
A. the generation of new ideas.
B. the evolution of new ideas.
C. the opposite of creativity.
D. the successful exploitation of new ideas.
State THREE (3) ways to help entrepreneurs generate a new business idea.
(a)
What best describes a Business Model Canvas?
A. One page plan outlining your new business idea
B. A piece of art work
C. A model of your business office
D. A strategic management template used for developing new business models
What are the "channels" in a business model canvas?
A. Where you sell your products/services
B. Who your customers are
C. Your goals as a business
D. Your customer demands
What does "Unique Value Proposition" mean?
A. Describes your product
B. What you are proposing to customers
C. The benefit or value your product/service provides
D. The differentiated value of your product/service is better than the existing product/service in the market
Define the word "revenue"
A. Costs
B. Money coming in
C. Profit
D. Revenue
Posters, social media, commercials are all examples of:
A. Customer Relationships
B. Revenue Streams
C. Key Metrics
D. Unique Value Proposition
Multiple ChoiceThis product solves the problem of headphones tangling while they are being stored in your pocket or book bag; this is an example of what section of the BMC?
A. Customer Problem
B. Unique Value Proposition
C. Customer Solution
D. Costs
Multiple ChoiceWe plan to sell 100% of our products, which is 20 products. This is an example of what section of the BMC?
A. Costs
B. Key Activities
C. Revenue Streams
D. Revenue
This product is compact and an all in one that is easy to use; this is an example of what section of the BMC?
A. Unique Value Proposition
B. Channels
C. Customer Problem
D. Customer Segment
