WorksheetsBusiness Practice Exam
Total questions: 16
Worksheet time: 8mins
Name
Class
Date
1.
True or False: An entrepreneur is a person who creates their own business. They get all of the benefits, but they take on a lot of risk.
a)
True
b)
False
2.
Check all of the characteristics a successful entrepreneur needs to have:
a)
Hard-working
b)
Motivated
c)
Creative
d)
Athletic
3.
True or False: Just like an entrepreneur, an enterprising person works for them self.
a)
True
b)
False
4.
What is the main difference between entrepreneurs and enterprising people?
a)
Enterprising people and entrepreneurs are both creative and motivated.
b)
Enterprising people don't take business courses, while entrepreneurs do.
c)
Enterprising people don't like to take financial risks while entrepreneurs do.
5.
When Alexander Graham Bell created the first telephone, this was an example of an:
a)
Innovation
b)
Invention
c)
Iteration
6.
True or False: Inventions always happen in fancy research facilities.
a)
True
b)
False
7.
Cirque Du Soleil is an example of an:
a)
Invention
b)
Innovation
8.
True or False: An idea is a need, want, or challenge that could be solved by a new business concept.
a)
True
b)
False
9.
Mike Dunlop, who appeared on Dragon's Den, was sick of being bit by deer flies and horse flies. He therefore created a fake dragonfly product that you wear on your hat, to scare away the deer flies and horse flies. This is an example of:
a)
An opportunity (problem), that led to an idea
b)
An idea that led to an opportunity
10.
True or False: Doing market research helps you figure out if people even want to buy your product/service.
a)
True
b)
False
11.
The 4 components of a Questionnaire are:
a)
Introduction, Questions, Answers, Thank you
b)
Statement of Purpose, Demographic Information, New Product Commercials, Closing
c)
Statement of Purpose, Questions, Demographic Information, Closing (Thank you)
12.
The 4 types of advertising mediums are:
a)
Newspaper ads, Radio Ads, TV Commercials, and Facebook Ads
b)
Flyers, Broadcasting Advertising, Billboards, and Social Media Ads
c)
Print advertising, Broadcast Advertising, Outdoor Advertising, and Digital Advertising
13.
True or False: Radio ads are an example of Outdoor Advertising?
a)
True
b)
False
14.
True or False: Sarah goes on Dragon's Den and offers 33% of her company in exchange for $25,000. Dragon Arlene agrees to this deal. This now means Sarah and Arlene share ownership and control of the business.
a)
True
b)
False
15.
Operating Costs are the day-to-day costs of doing business. Examples of operating costs are:
a)
salaries and rent
b)
advertising and shipping expenses
c)
supplies and materials
d)
ALL of the above
16.
True or False: You start making a profit BEFORE you reach your break even point.
a)
True
b)
False
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