Font size
WorksheetsEntrepreneurship Quiz
Total questions: 107
Worksheet time: 1hrs 20mins
The following are drawbacks to entrepreneurship except........
Disengagement
Discouragement
High levels of stress
Risk of losing investment
I am likely to be an entrepreneur because I have chosen a career path that offers entrepreneurial opportunities. This statement means I am motivated by.............
Locus of control
Perception of desirability
Perception of feasibility
Positive push
One of the following is a psychological reason for pursuing entrepreneurship.
Between things
Locus of control
Middle of things
Need for satisfaction
I am an entrepreneur who practices directly in daily work at a final product that reflects my competencies. What type of entrepreneur am I?
Craft
Nascent
Opportunist
Serial.
One of the following is a sociological reason for pursuing entrepreneurship.
Between things
Locus of control
Middle of things
Need for satisfaction
The word entrepreneur is derived from a French word enterprender, which means......
To be creative
To make profits
To take over
To undertake.
I may not have a lot of skills, but I am a resourceful person who would be open to any entrepreneurial idea that has potential. What type of entrepreneur am I likely to be?
Craft
Portfolio
Opportunist
Serial
My friends keep saying I am good at hair styling and so I have decided to start my own hair salon. This statement means I am motivated by.........
Perception of desirability
Perception of feasibility
Positive pull
Positive push
The characteristics of an individual that causes consistent patterns in that individual's behaviour over time is referred to as entrepreneurial..........
Attribute
Mentality
Personality
Potential
All the following are steps in the entrepreneurial process except.....
Evaluation and exploitation of resources
Idea generation
Opportunity recognition
Resource allocation
I started selling bottled water to my colleagues in class last semester but I failed terribly. I think I'm not very lucky in life and doing successful business is not my fate. This statement means I have high.........
External locus of control
Extremes locus of control
Internal locus of control
Resources
One way to avoid pitfalls of your business is to...........
Make profits.
Sell shares
Take risk
Understand your business in depth
Entrepreneurs are not only motivated by profits and regard it as a yardstick for measuring achievement.
True
False
Entrepreneurs are only motivated by profits and regard it as a yardstick for measuring achievement.
True
False
One of the ways to keep the entrepreneurial fire going it to.....
Learn
Make profits
Sell shares
Take risk
All the following are non - entrepreneurial attributes except.....
Dependency
Impulsiveness
Invulnerability
Values
I am not likely to be an entrepreneur because I believe that what happens in my life is as a result of my personal decision. This statement means I have high.......
External locus of control
Extreme locus of control
Internal locus of control
Interval locus of control
Akosua became an entrepreneur because she was motivated by Kofi's success story. The statement implies Akosua was influenced by........
Desirability
Feasibility studies
Perceived desirability
Perceived feasibility.
Which of the following is not a drawback of entrepreneurship
Uncertainty of income
Long hours and hard work
Making difference
High levels of stress
Which of the following describes a serial entrepreneur?
Owns an equity stake in an independent business.
Takes an idea to market and makes it happen
Has no grand vision
Expect to be the owner or part owner of a start-up business.
Which of the following is true about an opportunist entrepreneur? He / She
Has no grand vision
Owns an equity in an independent business.
Takes an idea to the market and makes it happen
Trains apprentices
Craft entrepreneurs can further be classified into.........
Nascent and novice entrepreneurs
Growth oriented and income oriented entrepreneurs.
Opportunist and portfolio entrepreneurs
Serial and strategic entrepreneurs
Which of the following is/are not a core attribute of an entrepreneur?
Determination
Intelligence
Tolerance of Risk
Courage
Entrepreneurship is all about the following except....
Having the tenacity to push an idea through to reality
Innovation and invention
Seeking opportunities
Taking risk below security
The first person who introduced the term entrepreneur is.......
Adam Smith
Peter F. Drucker
Richard Cantillon
Joseph Schumpeter
Akosua decided to enter into petty trading because of poverty. Who is Akosua?
Novice entrepreneur
Social entrepreneur
Subsistence entrepreneur
Scalable and start up entrepreneur
An approach in which individuals, groups, start-up companies or entrepreneurs develop, fund and implement solutions to social, cultural or environmental issues is......
Corporate entrepreneurship
High Growth entrepreneurship
Social entrepreneurship
Subsistence entrepreneurship
Which of the following is not a role of entrepreneurship in economic development?
Entrepreneurs exploiting only from the community
Harnessing resources that were previously lying down
New venture creation
Redistribution of wealth
The characteristics of an individual that causes consistent patterns in individual's behaviour over time referred to as entrepreneurial..........
Attribute
Attitude
Mentality
Personality
All the following are ways to avoid pitfalls of small business failure except.....
Knowing your business depth
Maintain positive attitude
Setting your business along with the competition
Understanding financial statement.
An individual who actively engage in creating new venture either alone or with someone and is expected to be the owner or part owner of this start up is....
Serial entrepreneur
Nascent entrepreneur
Novice entrepreneur
Portfolio entrepreneur
An individual who has no prior business ownership experience as a founder, inheritor of a business, or a purchaser of a business is.....
Habitual entrepreneur
Novice entrepreneur
Portfolio entrepreneur
Serial entrepreneur
If an entrepreneur has internal locus of control, this means that he or she.....
Has a high need for achievement
Feels comfortable in an unstructured
Believes that success depends on his or her own actions
Believes fate is a powerful force.
Which of the following is a common entrepreneurial traits?
A high need for achievement
A need for structured environment
Viewing changes as threatening
All of the above.
The process of gathering information about trends is......
Need for achievement
Neuroticism
Scanning the environment
Tenacity
An entrepreneur who owns more than one business at a time is......
Corporate entrepreneur
Entrepreneur
Portfolio entrepreneur
None of the above.
According to.......... the entrepreneur is a person with unusual foresight and could recognise the potential of goods and services.
Adam Smith
Charles Darwin
Joseph Alois
Richard Cantillon
An organisation that is focused on executing a repeatable and scalable business model can be described as......... enterprise
Large or small
Start up
Transformational
Transactional
Which of these functions of entrepreneurs relate to opportunity?
Analysing, Directing, Scanning
Analysing, Focusing, Scanning
Attracting, Leading, Analysing
Scanning, Identifying, Analysing
Entrepreneurship is more than mere creation of business. It is about......
Being interested in everything
Having thought of creativity
Overlooking opportunities
Taking risks beyond security
Which of the following is not a classification of entrepreneurs?
Portfolio entrepreneur
Movice entrepreneur
Nascent entrepreneur
Serial entrepreneur
Entrepreneurial personality can also be referred to as.........
Entrepreneurial attribute
Entrepreneurial knowledge
Entrepreneurial traits
Entrepreneurial self-efficacy.
All the following are psychological reasons that influence one's decision to become an enterprenuer except....
High need for achievement
Locus of control
Need for achievement
Positive push
I am not likely to become entrepreneur because I believe that what happens in my life is as a result of fate. This statement means I have high.......
Need for achievement
External locus of control
Perceived feasibility
Positive push
According to Cantillon, the entrepreneur is one who.......... at a certain price and ............. at an uncertain price
Buys, sells
Markets, earns
Sells, buys
Trades, gains
Which of the following is not true about entrepreneurs?
They challenge the unknown
They continuously create the future
They see chaos where others see opportunities
They are aggressive catalyst for change.
A group of level 300 students are working actively to establish, for the first time, an enterprise which was born out of their business concept paper. Which category of entrepreneurs will t
A group of level 300 students are working actively to establish, for the first time, an enterprise which was born out of their business concept paper. Which category of entrepreneurs will they constitute?
Portfolio entrepreneurs
Nascent entrepreneurs
Serial entrepreneurs
Craft entrepreneurs
Which of the following best describes Kwame Despite?
Portfolio entrepreneur
Craft entrepreneur
Novice entrepreneur
Gambler
The Entrepreneur process includes all the following except.....
Entrepreneur
Opportunity
Risk
Organisation
The reason why people become entrepreneurs can be classified as all of the following except......
Physiological
Psychological
Situational
Sociological
A collection of resources under the control of the entrepreneur is known as.....
Organization
Business
Firm
Small firm
Which of the following is a non entrepreneur attributes?
Values
Authoritarian
Self-reliance
Intelligence
Akua became an entrepreneur because she did not fit into the main flow of social and economic life. This statement implies that Akua as influenced by.....
Feeling of being between things.
Internal locus of control
Perception of feasibility
Negative displacement
Which of the following represents the highest level of creative behaviour?
Creation
Invention
Modification
Synthesis
Creative ideas can be protected by.......
Creating disclosure agreement
Following role models
Sharing ideas only with friends
Using analogies
Applying creative ideas to useful application is called.......
Creativity
Innovation
Invention
Talent
Abena is thinking of starting a mobile money business. The period within which it makes sense for Abena to realistically enter market is referred to as the......
Doorway of opportunity
Opportunity entryway
Portal of opportunity
Window of opportunity
Which of the following is a quality of an opportunity?
Accessibility
Adaptability
Durability
Feasibility
On way of protecting creative ideas is to........
Use disclosure agreement
Tell everybody about your idea
Rely on referrals
Follow your role model.
The ability to bring something new into existence is called....
Creativity
Innovation.
Invention
Talent
Which of the following is not applicable to brainstorming?
All ideas are captured
All members must contribute.
Criticisms are accepted
Facilitator is needed.
The process of doing new things is called. ....
Creativity
Innovation
Invention
Opportunity
The process of evaluating a business idea to determine its viability is called. .....
Feasibility analysis
Market feasibility
Product feasibility
Usability testing
Creativity occurs at the intersection of all these forces except. ....
Domain of knowledge
Individual
Innovation
Social context
Developing a prototype for potential customers to use in order to measure the product's/service's ease of use, and perception of usage experience is referred to as....
Beta testing/ user test/ field trial
Concept testing
Product feasibility
Trailing
The creative act of joining two previously unrelated things, for example bringing together the telephone and the computer is called......
Invention
Modification
Synthesis
Creation
Introducing a new way of doing business can be termed.........
Business model Innovation
Organizational innovation
Product innovation
Process innovation
All ideas can be converted into successful businesses.
True
False
A collection of resources under the control of the entrepreneur are known as.........
Money
Organisation
Technology
Opportunity
According to Barringer and Ireland (2008) ... can be defined as a favourable set of circumstances that creates a need for a new product, service or business.
Opportunity
Industry trend
Invention
Creativity
Which of the following is not a type of innovation?
Process innovation
Marketing innovation
Business model Innovation
Industry innovation
Creative behaviour includes all the following except. .....
Synthesis
Modification
Creation
Production
Assessing a product's ease of use and user experience by offering samples to potential consumers is called.....
Concept testing
Usability testing
Market testing
Standard testing
An innovative employee of an organisation is called. ....
Intraprenuer
Entrepreneurs
Social commentator
Creative person
Which of the following is a force that creates opportunity in the economy?
Changing trends
Chaos, confusion, inconsistencies
Other vacuum in an industry or market
All the above
The seven year engineering programme has finally come to an end and kofi kakra still holds on to the burning desire of coming out with a car that can be used on both the land and the sea without any external GPS support. This mental process connotes that Kofi Kakra is........
Innovative
Creative
Brilliant
Curious
A business arrangement where one partly allows another party to use a business name and sell its products or services is known as.......
Cooperative
Franchise
Owner manager business
Limited company
Partnership is registered under......
Incorporated private partnerships act, 1962 (Act 152)
Companies act, 2019 (Act 992)
Incorporated partnerships private act, 1962 (Act 152)
Incorporated private partnerships act, 1972 (Act 152)
One of the disadvantages of a franchise business for a franchisee is........
Franchise businesses typically have a high failure rate.
Lack of independence
Lack of brand identity
Training is not normally provided by a franchisor.
One of these is an advantage of a company as a form of business ownership.
Easy to set up
Enjoy economies of scale.
Division of labour is seldom realised.
Quick decision making
In the provisions of the New Companies Act 2019 (Act 992), Public Companies Unlimited by shares will now use the abbreviation......
LBG
LTD
PLC
PUC
Kwame is a partner in a recently established electronic company. He contributed about 80% of the capital invested into the business but does not take part in the day to day running of the organisation. Kwame is a/an............... partner.
Active
Dormant
General
Limited
In the provisions of the New Companies Act 2019 (Act 992), Public Companies Limited by shares will now use the abbreviation.........
LBG
LTD
PLC
PUC
Elsie is a partner in a recently established clothing business. She contributed about 80% of the capital invested into the business and participate in the day to day running of the organisation. Elsie is a/an........... partner.
Active
General
Limited
Sleeping
An alternative to starting a business from scratch for an individual is called.....
Family business
Franchising
Joint venturing
Trademarking
Which one of the following would not be considered an advantage to a partnership formation?
Potential for double taxation
Less governmental control
Ease of formation
Division of labour and management responsibilities
Which of the following is not an advantage of Sole proprietorship?
Simple to create
Easy to discontinue
Profit incentive
High risk bearing
Among the factors that entrepreneurs consider before they decide on the kind of ownership (form of legal entity) their businesses take include all these expect..........
The cost of setting up and maintaining the legal form
The extent to which an entrepreneur can shield personal assets from liabilities of the business
Time for launching the business and type of industry to go into
The number and types of investors the enterprenuer want to attract.
Which of these advantages is mostly associated with sole proprietorship?
No special legal restrictions
Divisions of profits
Ability to attract limited partners
Potential for personality and authority conflicts.
A firm cannot carry on business as partnership unless it is registered under.....
Act, 2002 (Act 612)
Act, 2003 (Act 662)
Act, 1963 (Act 179)
Act, 1962 (Act 152)
Which of these is a disadvantage that goes against franchisee under franchising arrangement?
Training and support
National advertising
Restricted freedom over purchasing and product lines
Small shareholders may have little voice in the firm
A system of distribution in which legally independent business owners pay fees and royalties to a parent company in return for their right is........
Franchising
Licensing
Corporation
Privatisation
Transformational entrepreneurship basically means..................
Transforming your life into a luxurious one
Remodelling a business idea and making it your own
Having foresight for a country
Business renewal.
A form of entrepreneurship that has the tendency of growth is known as the
Subsistence Entrepreneurship
Social Entrepreneurship
High-growth entrepreneurship
Scalable start - up business entrepreneurship
As an entrepreneur, you have to guarantee the concept of your idea
True
False
The entrepreneurship process is
Entrepreneurship Mindset, Opportunity, Idea, Resources and Organization.
Entrepreneurship Mindset, Idea, Opportunity, Resources and Organization
Opportunity, Mindset, Resources, Idea and Organization
Idea, Mindset, Resources, Opportunity, Organization.
Providing autonomy and copyrighting of ideas are both ways of managing style and creativity
True
False
Below are the list of brainstorming ideas except
No criticism
Encouraging risk taking
All ideas are captured
No repetition of ideas
The modernization of an existing concept is referred to as............
Creativity
Innovation
Brainstorming
Invention
Relying on referrals is a technique for protecting creative idea.
True
False
Creative behaviours include
Creation
Synthesis
Modifications
All of the above
Brainstorming requires the following except
No criticism
Record of all ideas
A facilitator
Repetition of ideas
For focus group discussion, between 8 and 14 people can be ideal
True
False
In securing ideas, do the following except
Doing background checks of entities, you want to partner
Overlooking legal service because it is expensive and not necessary at the infantile stage of business
Using non-disclosure agreements
Using copyright.
Being dependent is a core attribute of an entrepreneur
True
False
The entrepreneurial process is made up of the following except
Opportunity
Resources
Entrepreneur
All of the ab
