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Business Resources

Total questions: 15

Worksheet time: 7mins

Name
Class
Date
1.

Who is an entrepreneur

a)

Someone who starts a new business

b)

someone who designs buildings

c)

Someone who manufactures things

d)

Someone who has new ideas

2.
The advantage of a person becoming an entrepreneur is:
a)
more money'll always be earned than working for an employer
b)
there is more independence than when working for an employer 
c)
Less risk of business failure 
d)
no oppotunity cost involved in becoming anentepeneur
3.
An important characteristic of a successful entrepreneur is that:
a)
they are always rich
b)
they are risk takers
c)
they are usually shy
d)
they want to avoid hard work
4.
What is meant by enterprise?
a)
A person who spots an opportunity to provide goods or services to customers in order to make a profit
b)
The process/activities by which new businesses are formed in order to offer products and services in a market.
5.
What must a company do to ensure any new idea is successful?
a)
Check it satisfies a customer need = market research
b)
Carry out a successful launch of the product/service
6.
Define the term 'risk'
a)
A person who spots an opportunity to provide goods or services to customers in order to make a profit
b)
The process/activities by which new businesses are formed in order to offer products and services in a market
c)
This is the possibility that the business will have a lower than expected profit or a loss
d)
Check it satisfies a customer need = market research
7.
The reward for enterprise is?
a)
Profit
b)
Hard work
c)
Risk
d)
Self-discipline
8.
Define what is meant by the term 'reward'.
a)
This is the possibility that the business will have a lower than expected profit or a loss
b)
This is the benefit of having a business which may be keeping the profit, working for yourself or being able to take holidays when you want
9.

Land includes...

a)

The "gifts of nature" or natural resources not created by human effort.

b)

the tools, equipment, and factories used in production of goods and services

c)

people with all their efforts and abilities

d)

individuals who start a new business or bring a product to market.

10.

Capital refers to...

a)

The "gifts of nature" or natural resources not created by human effort.

b)

people with all their efforts and abilities

c)

the tools, equipment, and factories used in production of goods and services

d)

individuals who start a new business or bring a product to market.

11.

Labor refers to...

a)

people with all their efforts and abilities

b)

individuals who start a new business or bring a product to market.

c)

the tools, equipment, and factories used in production of goods and services.

d)

The "gifts of nature" or natural resources not created by human effort.

12.

Entrepreneurs are...

a)

people with all their efforts and abilities

b)

individuals who start a new business or bring a product to market.

c)

The "gifts of nature" or natural resources not created by human effort.

d)

the tools, equipment, and factories used in production of goods and services

13.
Cashiers at McDonalds are examples of ….
a)
Land
b)
Labor
c)
Entrepreneurs
d)
Capital
14.

Bill Gates is an example of...

a)

Land (seriously though, come on)

b)

Labor

c)

An Entrepreneurs

d)

Capital

15.

The Laptops you are using are examples of

a)
Land
b)
Labor
c)
Entrepreneurs
d)
Capital