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WorksheetsEntrepreneurship Pretest
Total questions: 21
Worksheet time: 11mins
It is the capacity or willingness to create, organize and manage a business venture along with its risk in order to make profit.
Entrepreneurship
Business
Management
Economics
The following statements are the socio-economic contributions of entrepreneurship EXCEPT __________.
It creates employment
It improves the quality of life
It utilizes and mobilizes resources for greater national productivity
It leads to unfavourable distribution of income and aggravates poverty
An individual who undertakes the creation, organization and ownership of a business.
Manager
Creator
Organizer
Entrepreneur
The reason why not everyone wants to be an entrepreneur or to strike out on his own and start a business is due to the ___________.
Fear of loss or damage
Prestige or pride of being the boss
Possibility of achieving financial rewards
Opportunity of gaining wealth and building equity
Which of the following is not true about entrepreneurs?
Entrepreneurs are risk-takers
Entrepreneurs are goal oriented
Entrepreneurs give up easily
Entrepreneurs are innovative
This includes resources such as money, machinery and equipment which are used to extract and process raw materials into finished goods.
Land
Labor
Capital
Entrepreneur
The amount of money left after a business has paid for the cost of producing its goods and services.
Price
Profit
Cost
Sales
It is a social process which involves assembly and utilization of resources to produce goods and services in order to satisfy the needs of society.
Entrepreneurship
Business
Management
Economics
A person or organization who uses economic services or commodities.
Competitor
Supplier
Manufacturer
Consumer
A written document that details a proposed or existing business venture.
Marketing plan
Business plan
Operational plan
Strategic plan
Entrepreneurs need to have a business plan to ______________.
Guide them throughout the process
Eliminate business risks and prepare for success
Express their capabilities and competencies
All of these
Which is NOT true about a business plan?
It should be clear and concise
It should be realistic
It should be written after setting up an enterprise
It should be crafted with honesty
WHAT
Product
Price
Promotion
Positioning
It refers to where it will be easiest for your target customers to find.
Place
Packaging
Price
People
It refers to a storage that will protect the product.
Price
Product
Packaging
Promotion
It refers to a good to be sold.
People
Price
Promotion
Product
It refers to how much a product will be sold.
Product
Price
Positioning
People
It refers to the strategy adopted to introduce a product.
Promotion
People
Product
Price
Refers to the persons who run or work for the business.
People
Product
Price
Promotion
A promotion that utilizes the media: newspaper, magazine, radio, television, bill board, mail and yellow pages.
Personal Selling
Advertising
Public Relations
Sales Promotion
A presentation done by the firms on a person-to-person basis with the customer.
Personal Selling
Advertising
Public Relations
Sales Promotion
