wayground logo

Free Printable Worksheets

NEW

Font size

S
M
L
XL
Worksheets

Entrepreneurship UNIT 2-3-4 Review

Total questions: 47

Worksheet time: 24mins

Name
Class
Date
1.

Entrepreneurs identify problems or gaps in the marketplace, and use ____________ to create solutions.

a)

metrics

b)

Microsoft

c)

innovation

d)

delegation

2.

Successful entrepreneurs usually have a lot of ____________; they believe their visions will become a reality – they are resolute, optimistic and determined.

a)

confidence

b)

risk aversion

c)

work ethic

d)

debt

3.

Advancements in technology occur everyday, which allows some entrepreneurs to run their businesses:

a)

with less regulation.

b)

nearly entirely from their laptop computers.

c)

with a store front.

d)

with no computer skills.

4.

A solopreneur is: Select an answer from the options below.

a)

an entrepreneur who works for a company

b)

an intrapreneur who works from home

c)

a person who starts a business and runs it by themselves

d)

an entrepreneur who bootstraps

5.

These external factors can impact entrepreneurial growth: 1)__________, 2) Racial, 3) Social, 4) Political, and 5) Psychological. Select an answer from the options below.

a)

Manufacturing

b)

Economic

c)

Corporate

d)

Managerial

6.

The trait of _______________ is a picture the entrepreneur paints in their mind, that if the company is successful, the company and/or world might look a certain way. Select an answer from the options below.

a)

vision

b)

ambition

c)

strategy

d)

execution

7.

Improper delegation, without enough direction or management, can cause employees to become: Select an answer from the options below.

a)

frustrated and confused

b)

empowered

c)

developed

d)

promoted and rewarded

8.

Successful entrepreneurs are problem solvers. They use the following trait, which involves the creation of new, unique products or services: Select an answer from the options below.

a)

bootstrapping

b)

self-awareness

c)

innovation

d)

mission

9.

Successful entrepreneurs share __________ as a common trait; they do it for the love of the game, for the journey. Select an answer from the options below.

a)

balance sheets

b)

strategy

c)

passion

d)

fear

10.

These are one-person operations, where someone starts and runs the business by themselves, with no additional partners or staff. Select an answer from the options below.

a)

solopreneur

b)

small-business owner

c)

a tax deduction

d)

an intrapreneur

11.

A common myth of what it takes to be an entrepreneur is: Select an answer from the options below.

a)

all I need is money to get started

b)

I need a certain type of experience

c)

entrepreneurs are born

d)

all the above

12.

Teresa is being very resourceful when she starts her business by finding ways to build it with limited funds and resources. She is ______________. Select an answer from the options below.

a)

bootstrapping

b)

taking risk

c)

multi-tasker

d)

relaxing

13.

The tasks and responsibilities for entrepreneurs and small business owners alike, include: Select an answer from the options below.

a)

sales and marketing

b)

complying with regulations

c)

strategy and planning

d)

all the above

14.

Proper delegation provides great benefits, including Select an answer from the options below.

a)

saving time and money

b)

it helps empower and motivate people

c)

it helps build skills

d)

all the above

15.

Which are current trends in entrepreneurship? Select an answer from the options below.

a)

contract workers and revenue-focused

b)

finance and large companies

c)

accounting and workshops

d)

competition and maker space

16.

A willingness to be flexible and to be “on call” and to work long and irregular hours, in order to serve your employees and customers and grow your business, is an example of what trait of successful entrepreneurs and business owners? Select an answer from the options below.

a)

persuasiveness

b)

work-ethic

c)

confidence

d)

life-long-learner

17.

Micromanagement occurs when a manager: Select an answer from the options below.

a)

creates a spreadsheet

b)

over-manages, providing too much direction

c)

under-manages, providing too little direction

d)

hires too many people

18.

One barrier to small business/entrepreneurial success is: Select an answer from the options below.

a)

lack of capital funding

b)

less regulation

c)

less competition

d)

more math acumen

19.

What are traits of successful entrepreneurs? Select an answer from the options below.

a)

Innovative and Persistent

b)

Passionate and Focused

c)

Persuasive and Hard Working

d)

all of the above

20.

Being creative by working effectively with limited funds and resources.

a)

Bootstrapping

b)

Crowdfunding

c)

Venture Capital

d)

Angel Investment

21.

Conscious of one’s own traits, skills, strengths, weaknesses, and emotions.

a)

Self-Awareness

b)

Self-Confidence

c)

Empathy

d)

Motivation

22.

Personal characteristics, expressed by a regular pattern of behavior, that over time become a part of you.

a)

Traits

b)

Habits

c)

Skills

d)

Emotions

23.

A summary that describes a company's purpose; its reason for being, the problem it is solving.

a)

Mission

b)

Vision

c)

Strategy

d)

Goal

24.

An aspirational view of the future, that if the company is successful in accomplishing its mission, the company and/or world might look a certain way.

a)

Vision

b)

Mission

c)

Goal

d)

Strategy

25.

A strong feeling of enthusiasm, connection, determination, and devotion.

a)

Passion

b)

Apathy

c)

Indifference

d)

Disinterest

26.

The introduction of something new; a new idea, product, method, device, or service.

a)

Innovation

b)

Tradition

c)

Replication

d)

Stagnation

27.

The loss of potential gain from among other alternatives, when one alternative is chosen.

a)

Opportunity Cost

b)

Sunk Cost

c)

Fixed Cost

d)

Variable Cost

28.

Successful entrepreneurs are enthusiastic about their work; they do it for the love of the journey; they are ____________ about what they are doing and why they are doing it. Select an answer from the options below.

a)

concerned

b)

passionate

c)

hesitant

d)

nervous

29.

An employee who is hired for a specific job at a specific rate of pay, but is not considered a permanent employee, is called: Select an answer from the options below.

a)

a solopreneur

b)

an intrapreneur

c)

a tax deduction

d)

a contract employee

30.

Entrepreneurs differ from small business owners in that they generally take on more ________. Select an answer from the options below.

a)

debt

b)

risk

c)

compliance

d)

accounting

31.

In an effort to bootstrap and save money, many entrepreneurs started their businesses from their

a)

corporate office and museum

b)

headquarters and gym

c)

park and synergy

d)

garages and dorm rooms

32.

Risk Averse means:

a)

you are generally reluctant to take risks

b)

you are generally open to taking risk

c)

you are for borrowing a lot of money

d)

you don’t understand what risk is

33.

Entrepreneurs differ from small business owners in that are generally more concerned with:

a)

a stable income

b)

certain hours

c)

regular paychecks

d)

growing the company at a faster pace

34.

In some parts of the world, pursuing an opportunity around a new innovation can be difficult and less accepted based on social and/or ___________ factors. Select an answer from the options below.

a)

pitch deck

b)

marketing

c)

political

d)

accounting

35.

A labor market involving temporary, flexible, freelance jobs, often using technology to connect workers with those who are hiring, is called: Select an answer from the options below.

a)

small business owner

b)

gig economy

c)

contract worker

d)

solopreneur

36.

An employee who is hired for a specific job at a specific rate of pay; a contract employee is not considered a permanent employee.

a)

Contract Employee

b)

Permanent Employee

c)

Freelancer

d)

Intern

37.

A labor market involving temporary, flexible, freelance jobs, often using technology to connect workers with those who are hiring.

a)

Gig Economy

b)

Traditional Employment

c)

Permanent Workforce

d)

Corporate Sector

38.

These are one-person operations, where someone starts and runs the business by themselves, with no additional partners or staff.

a)

Solopreneur

b)

Partnership

c)

Corporation

d)

Franchise

39.

A company that is operated out of someone's residence.

a)

Home-based business

b)

Office-based business

c)

Retail store

d)

Franchise

40.

An individual who is their own boss.

a)

Self-employed

b)

Employee

c)

Intern

d)

Manager

41.

A person who owns a small business.

a)

Small-Business Owner

b)

Employee

c)

Investor

d)

Manager

42.

An amount that reduces a business's revenue, or individual’s income, which in turn reduces the taxes owed.

a)

Tax Deduction

b)

Tax Credit

c)

Tax Evasion

d)

Tax Refund

43.

Geraldo has a personal budget that he has stayed disciplined to now for five years. He invested $300 per month at 6% compounded monthly and now has a little over $21,000. He wants to start a business but is scared that he will lose the money he worked so hard to save. Based on this information, it’s possible Geraldo doesn’t possess a certain entrepreneurial trait. Which one? Select an answer from the options below.

a)

Bootstrapping

b)

Multi-tasker

c)

Life-long-learner

d)

Willingness to take risks

44.

Which is a barrier to entrepreneurial success? Select an answer from the options below.

a)

poor cash flow management

b)

lack of math acumen

c)

ineffective management of priorities

d)

all the above

45.

Which is a barrier to entrepreneurial success? Select an answer from the options below.

a)

taking too much risk

b)

taking too little risk

c)

insufficient innovation

d)

all the above

46.

Delegation is an important responsibility of a leader/manager: Delegation occurs when certain ________ are assigned to others. Select an answer from the options below.

a)

seats

b)

passwords

c)

tasks and/or responsibilities

d)

user names

47.

Entrepreneurs are known for having ___________, a view and belief of what their company can become, and if successful, what impact it can have on society, and the world. Select an answer from the options below.

a)

vision

b)

vocation

c)

career

d)

profession