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entrepreneurship

Total questions: 40

Worksheet time: 16mins

Name
Class
Date
1.
What is entrepreneurship?
a)
working with others to make create a business.
b)
the activity of setting up a business or businesses, taking on financial risks in the hope of profit.
c)
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
d)
coming up with ideas to start a business.
2.
Having the courage to do the right thing because it is right is called
a)
Morality
b)
Integrity
c)
Honesty
d)
Immorality
3.
Space allowed between two or more people 
a)
Business space 
b)
Optional space 
c)
Personal Space 
d)
Appropriate Space 
4.
The act of assuming the risk of organizing productive resources to produce goods and services.
a)
business
b)
critical thinking
c)
entrepreneurship
d)
risk management
5.
Which one of these is NOT a characteristic of an entrepreneur?
a)
risk taker
b)
idea person
c)
generalist
d)
specialist
6.
The act of assuming the risk of organizing productive resources to produce goods and services.
a)
business
b)
critical thinking
c)
entrepreneurship
d)
risk management
7.
Which one of these is NOT a characteristic of an entrepreneur?
a)
risk taker
b)
idea person
c)
generalist
d)
specialist
8.

Entrepreneurs create ____________________ for themselves and others.

a)

wealth

b)

risk

c)

plans

d)

none of these

9.

Anyone can be an entrepreneur.

a)

True

b)

False

c)

Neither one

d)

It doesn't matter

10.
Which is the cost of goods or services used to operate a business?
a)
Income
b)
Expense
c)
Revenue
d)
Profit
11.

Libraries have publications that provide data of interest to entrepreneurs

a)

true

b)

false

12.
When considering the services to offer customers, a business should determine if a specific service would accomplish which goal?
a)
Enhance customer satisfaction levels
b)
Increase the number of products possibly returned by customers
c)
Offend the existing competitors of the business
d)
Stabilize variable interest rates
13.
Space allowed between two or more people 
a)
Business space 
b)
Optional space 
c)
Personal Space 
d)
Appropriate Space 
14.
What is entrepreneurship?
a)
working with others to make create a business.
b)
the activity of setting up a business or businesses, taking on financial risks in the hope of profit.
c)
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
d)
coming up with ideas to start a business.
15.

Which trait or characteristic would describe a successful entrepreneur?

a)

Lazy

b)

Shy

c)

Bossy

d)

Self Starter

16.

Entrepreneur means “to undertake.”

a)

TRUE

b)

FALSE

17.

Entrepreneurship is a process of actions of an entrepreneur who is always in search of opportunities.

a)

TRUE

b)

FALSE

18.

Coward people will become successful entrepreneur.

a)

TRUE

b)

FALSE

19.

Which of the statements below is true?

a)

Entrepreneur has limited career opportunities

b)

Entrepreneurs are prone to constant high income

c)

Entrepreneurs are contributor to the development of the society

d)

Entrepreneurs are the reasons for unemployment problem

20.

Which of the statement is NOT true?

a)

An entrepreneur will patiently wait for his efforts to bear fruit.

b)

The profit of the entrepreneur is immediate

c)

All entrepreneurs are successful

d)

Entrepreneurs are researchers

21.

The entrepreneurs who create new ideas are called?

a)

Innovative

b)

Imitating

c)

Fabian

d)

Drone

22.

The greatest significance of entrepreneurship is to help identify and develop the managerial capabilities of entrepreneurs.

a)

TRUE

b)

FALSE

23.

Entrepreneurship is not an economic activity.

a)

TRUE

b)

FALSE

24.

Which of the following is NOT a function of an entrepreneur?

a)

Skills management

b)

Risk taking

c)

Conduct research

d)

Make no changes with his product

25.

It is a personality factor which means “doing things even before being told”

a)

Proactive

b)

Perseverance

c)

Persuasion

d)

Initiative

26.

Entrepreneurs are encouraged by the economy because they can provide a lot of opportunities for the unemployed young people.

a)

TRUE

b)

FALSE

27.

His definition of entrepreneurship placed an emphasis on INNOVATION.

a)

Joseph Schumberg

b)

Joseph Howard

c)

Joseph Schumpeter

d)

Joseph Thompson

28.

An entrepreneur can also become a salesman

a)

TRUE

b)

FALSE

29.

Entrepreneurs are innovative.

a)

TRUE

b)

FALSE

30.

Entrepreneurship can improve the life of the entrepreneur only.

a)

TRUE

b)

FALSE

31.

A _________ is a series of action to be done to produce quality product.

a)

market

b)

procvedure

32.

A good ___________________ must be well-crafted by the entrepreneur to produce quality product and be patronized by the customers.

a)

product

b)

plan

33.

________________ are containers or other household use to produce the product.

a)

location

b)

utensils

34.

The ______________ gives a clear idea on what shall be done in order to produce a product .

a)

construction

b)

plan

35.

To ensure that your products can be sold, you need to make a _____________ to find out the needs and demands of your customers.

a)

survey

b)

innovation

36.

A plan must be followed carefully to reduce ___________ results.

a)

positive

b)

negative

37.

There is a need to identify the demands of your customers so that you __________________.

a)

can start the good plan of your product

b)

identify the materials needed

38.

A _______________ is produced by the seller to consumed by the buyer.

a)

product

b)

store

39.

______________the process of exchanging products for a certain amount of money.

a)

Planning

b)

Selling

40.

An entrepreneur must have ____________to buy products to sell.

a)

product

b)

capital