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Intro to Entrepreneurship Quiz Review

Total questions: 18

Worksheet time: 9mins

Name
Class
Date
1.

Adaptability, competitiveness and confidence are examples of...

a)

Middle school classes at Laing

b)

Characteristics of successful entrepreneurs

c)

The knack for convincing people to see your point of view and to get them interested in your ideas.

d)

Essential elements of a business plan.

2.

The desire to work hard and achieve one's goals is

a)

Honesty

b)

Impossible

c)

Risk-taking

d)

Drive

3.

Determined entrepreneurs...

a)

Avoid paying bills.

b)

Finish what they start and make sure their work is done well.

c)

Charge high prices for their products.

d)

Refuse to take responsibility for their actions.

4.

A disciplined entrepreneur

a)

Stays focused

b)

Adheres to a schedule

c)

Meets deadlines

d)

A disciplined entrepreneur does all of these things.

5.

Customers....

a)

Buy products or services from a business

b)

Sell products or services to a business

c)

Start and run a business

d)

Promote products to a business

6.

Someone who buys a product or service from a business is called a...

a)

Marketing director

b)

CEO

c)

Customer

d)

Profit

7.

Risk can be defined as...

a)

Customer Service

b)

The specific group of people a business aims to serve

c)

An item or service a business offers to customers

d)

The possibility of losing something valuable in pursuit of a goal

8.

The importance of entrepreneurship and business to society includes...

a)

Job creation and reduced unemployment

b)

Higher taxes

c)

Lower income

d)

Increase in housing costs

9.

Organization helps entrepreneurs

a)

Structure their lives and keep tasks and information in order.

b)

See the end results of their goals while working to achieve them.

c)

Get a degree in business

d)

convince people to see their point of view.

10.

The money a business earns after paying its expenses is called

a)

Sales Revenue

b)

Profit

c)

Expenses

d)

Taxes

11.

A wholesale business buys large quantities of goods from producers to sell to other businesses, not directly to the public.

a)
True
b)
False
12.

Finishing tasks and keeping promises describes...

a)

What it means to be honest as an entrepreneur

b)

What it means to take risks as an entrepreneur

c)

What it means to be responsible as an entrepreneur

d)

What it means to be confident as an entrepreneur

13.

The main office or center of operations for a business is called its headquarters.

a)
True
b)
False
14.

Something that can be touched or held and is sold by a business is called.

a)

Service

b)

Product

c)

Subscription

d)

Contract

15.

A service business

a)

Is operated online only

b)

Sells physical items like dog food or toys

c)

Is not legal in the United States

d)

Provides a service rather than a product

16.

A symbol or design that represents a company is called...

a)

Website

b)

Logo

c)

Business Plan

d)

Patent

17.

If you regularly shop at a certain store, it can be said that you patronize that business.

a)
True
b)
False
18.

An entrepreneur...

a)

Works as an employee for a business that sells products.

b)

Is someone who graduates from business school

c)

Is an individual who undertakes the creation, organization, and ownership of a business.

d)

Is exempt from taxes.