WorksheetsEntrepreneurship and Small Business Test
Total questions: 15
Worksheet time: 12mins
Name
Class
Date
1.
_____________________ is a business started by someone who notices a need for a product or service.
a)
entrepreneurship
b)
small business
2.
Which of these is a disadvantage of entrepreneurship? (check all that apply)
a)
giving up the security of a regular paycheck
b)
work schedule is never predictable
c)
all the decisions of the business must be made by you
3.
Which of these is an advantage of entrepreneurship? (check all that apply)
a)
you are your own boss
b)
you can work whenever you want, wherever you want and however you want
c)
there is a lot of adventure
4.
A _______ ______________is an independently owned business that usually has the owner as its manager.
a)
entrepreneurship
b)
small business
5.
What category defines most businesses in the US?
a)
small businesses
b)
corporations
6.
Which of these is NOT a characteristic of a small business?
a)
serves a limited geographic area
b)
Is dominant in its industry
c)
employs fewer than 500 people
7.
Which of these are an advantage of owning a small business? (check all that apply)
a)
you are your own boss
b)
you can quickly respond to your customers’ needs
c)
They are easy to form
8.
Which of these are a disadvantage of owning a small business? (check all that apply)
a)
work long hours
b)
make all the decisions
9.
True or False: It is important for small business owners to be aware of change and adapt quickly
a)
True
b)
False
10.
A ______________ is a contractual agreement to use the name and sell the product or services of a company.
a)
small business
b)
franchise
11.
What do you get in return for franchising?
a)
a well-known name and a business plan.
b)
a share in a corporation
12.
Draw a logo for a small business or brand you would want to create.
13.
How many out of how many small businesses fail in their first 5 years?
(a)
14.
Would you want to start your own business after learning what it takes to start one?
(a)
15.
Would you ever want to franchise a business after learning what it requires?
(a)
100 %
