WorksheetsEntrepreneurship
Total questions: 34
Worksheet time: 30mins
Who started Microsoft at the age of 23?
Steve Jobs
Bill Gates
Mark Zuckerberg
Warren Buffet
A freelancer is someone who:
Runs a franchise
Works a single full-time job
Works for one employer long-term
Does contract work for various companies
What is a common characteristic of entrepreneurs?
Selfishness
Passiveness
Confidence
Laziness
What is one benefit of working for yourself?
Guaranteed salary
Being your own boss
Regular paid vacation
No financial risk
What does "scarcity" mean in economics?
More supply than demand
Abundant resources
Limited resources with high demand
Equal supply and demand
A P&L Statement shows:
Your monthly budget
Profits and losses over a time period
Your marketing plan
Only your income
What term describes money left over after costs are subtracted from sales?
Revenue
Expense
Profit
Asset
ROI stands for:
Rate of Income
Return on Investment
Revenue on Inventory
Record of Interest
Your “target market” refers to:
Anyone with a credit card
Friends and family
Customers most likely to buy your product
Global customers
Which of the following is an example of promotion?
Logo
Font style
Coupon
Website menu
Which is NOT a tip for naming your business?
Keep it short
Use confusing jokes
Avoid hard-to-spell names
Check for trademarks
What outlines how your business will operate and succeed?
Business plan
Mission board
Tax document
Marketing summary
What kind of insurance protects your equipment from damage?
Health Insurance
Property Insurance
Liability Insurance
Business Bond
What system stores your files digitally?
Filing cabinet
Receipt folder
Document management system
Loan manager
“Opportunity cost” means:
The cost of starting a business
Choosing one thing over another
Unexpected expenses
A lost receipt
What influences customers the most in marketing?
Length of commercial
Loudness of ad
Word-of-mouth from people they trust
Colors in a logo
What should a business grow at?
The speed of debt
The speed of credit
The speed of investment
The speed of cash
What type of economic system does the U.S. operate in?
Command
Traditional
Market
Mixed
What document communicates your business’s purpose?
Income statement
Mission statement
Logo guide
P&L
What is the best trial period for new employees?
10 days
30 days
6 months
1 week
The percentage of a market controlled by a company is called:
ROI
Market share
Gross revenue
Branding
One of the most powerful forms of word-of-mouth is:
Paid ads
Friends sharing on social media
Flyer handouts
Online quizzes
What is a “service”?
A product you buy
A discount on goods
Something you do for others as your business
A warranty
Which of these is NOT a concern when hiring an employee?
Overtime and vacation policies
Lunch preferences
Position type (full-time/part-time)
Pay schedule
Write True or False next to each statement. 26. Branding only includes your business name and logo.
True
False
A business should always have a written business plan.
True
False
Write True or False next to each statement. 28. Social media contests can help increase your sales.
True
False
___ Military-grade encryption means only the military can access it.
True
False
___ People buy from those they know, like, and trust.
True
False
31. What is one major benefit of being an entrepreneur?
32. Why is it important to identify your target market before launching a product?
33. Describe one reason why goal setting is important in business.
34. What is a mission statement and why is it important?
35. Why is it important to separate your personal and business finances?
