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entrepreneurship

Total questions: 40

Worksheet time: 22mins

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.
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
3.
Which one of these is NOT a characteristic of an entrepreneur?
a)
risk taker
b)
idea person
c)
generalist
d)
specialist
4.

Anyone can be an entrepreneur.

a)

True

b)

False

c)

Neither one

d)

It doesn't matter

5.
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
6.

Which trait or characteristic would describe a successful entrepreneur?

a)

Lazy

b)

Shy

c)

Bossy

d)

Self Starter

7.
Which of the following is not a characteristic of a successful entrepreneur?
a)
Determination
b)
Creativity
c)
Dependence
d)
Self-Confidence
8.
Researchers have determined that successful entrepreneurs 
a)
want to make their own decisions
b)
do not always know what they want
c)
like to have someone else make decisions
d)
do not need to set goals
9.
Two key factors that aid an entrepreneur's commitment to a business are
a)
hobbies and sales experience
b)
interests and past experiences
c)
interest and sales experience
d)
hobbies and athletic ability
10.
A self-assessment is an evaluation of your
a)
hobbies and interests
b)
strengths and weaknesses
c)
interests and sales experience
d)
hobbies and athletic ability
11.
To determine your suitability for entrepreneurship, you should assess your 
a)
strengths and weaknesses
b)
interests
c)
aptitude
d)
all of these
12.
An advantage of entrepreneurship is that entrepreneurs
a)
can supervise other people
b)
must make all decisions by themselves
c)
can work in a field that interest them
d)
do not need to set goals
13.

A disadvantage of entrepreneurship is that entrepreneurs 

a)
do not have regular income
b)
must implement creative ideas
c)
control their own destinies
d)
none of these
14.

A disadvantage of entrepreneurship is that entrepreneurs 

a)
do not have regular income
b)
must implement creative ideas
c)
control their own destinies
d)
none of these
15.
Successful entrepreneurs need to be self-confident because they must make deicsions alone, but they do not need to be creative because they can hire creative people
a)
True
b)
False
16.

Your hobbies, interest, and past experiences are key factors in determining your commitment to a business

a)
True
b)
False
17.
What is the main difference between entrepreneurs and intrapreneurs in terms of their role in a company?
a)
Entrepreneurs have the same role within a company as intrapreneurs.
b)
Entrepreneurs have a less defined role within a company than intrapreneurs.
c)
Entrepreneurs have a more defined role within a company than intrapreneurs.
d)
Entrepreneurs are employees of a company, while intrapreneurs are not.
18.

Intrapreneurs accept risk.

a)

True

b)

False

19.

Starts a business with a new idea...

a)

Entrepreneur

b)

Intrapreneur

c)

None of the above

20.

an employee who promotes innovation within the limits of the organization

a)

entrepreneur

b)

Intrapreneur

21.

_____________________ use resources provided by the company.

a)

Intrapreneur

b)

ENtrepreneur

22.

The term entrepreneur has been divided from the word entrepreneur which mean

a)

To give

b)

To undertake

c)

To choose

d)

To decide

23.

What is the halmark of a successful entrepreneur?

a)

Risk bearing capacity

b)

Persistance

c)

Flexibility

d)

Self conficonfidence

24.

Which of these is not type of entrepreneurship

a)

Small business entrepreneurship

b)

Scalable entrepreneurship

c)

Large scale entrepreneurship

d)

Intrapreneurship

25.

The process of creating something new is called

a)

Creative flexibility

b)

Management

c)

Business

d)

Innovation

26.

Which of these is also known as corporate venturing

a)

Intrapreneurship

b)

Megers

c)

Entrepreneurship

d)

Acquisition

27.

Which of the following is/are a basic characteristic of an entrepreneur? (Select multiple options if necessary)

a)

Innovative

b)

Risk Taker

c)

Bossy

d)

laid back attitute

28.

Which one is NOT a disadvantage of Entrepreneurship?

a)

Risky

b)

Uncertain Income

c)

You are the Boss of your own organisation

d)

Long work hours

29.

..................................... is one who prefers to follows the traditional methods of production and approach to the market.

a)

Imitative Entrepreneur

b)

Innovative Entrepreneur

c)

Fabian Entrepreneur

d)

Drone Entrepreneur

30.

................................. is the practice of beginning and developing new business ventures within the structure of an existing organization.

a)

Management

b)

Entrepreneurship

c)

Production control

d)

Intrapreneurship

31.

1) Which of these entrepreneurs is Elon Musk?

a)

Innovative

b)

Imitative

c)

Fabian

d)

Drone

32.

2) Which of these is the closest combination?

a)

Innovative & Imitative

b)

Imitative & Fabian

c)

Fabian & Innovative

d)

Drone & Imitative

33.

3) Kodak’ is an example of which type of entrepreneur?

a)

Innovative

b)

Imitative

c)

Fabian

d)

Drone

34.

4) What type of entrepreneurs are also termed as ‘laggards’?

a)

Innovative

b)

Imitative

c)

Fabian

d)

Drone

35.

Which of these generally turn out to be Fabian entrepreneurs?

a)

First generation entrepreneurs

b)

Second generation entrepreneurs

c)

third generation entrepreneurs

d)

None

36.

Which phase of the business cycle is characterized by high levels of economic activity?

a)

Expansion

b)

Peak

c)

Recession

d)

Trough

37.

During which phase of the business cycle does the economy experience a decline in economic activity?

a)

Expansion

b)

Peak

c)

Recession

d)

Trough

38.

Which phase of the business cycle is characterized by increase in production, money flow, and employment?

a)

Expanion

b)

Peak

c)

Trough

d)

Recession

39.

take a look the following diagram with the following labels:

1 - Peak, 2 - trough, 3 - decline, 4 - growth

press YES if you already read and remember the labels.

a)

YES

b)

NO

40.

Which of the following is NOT a Phase?

a)

Expansion

b)

Contraction

c)

Neutral

d)

Peak

e)

Trough

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