Ch. 11 The Entrepreneurial Spirit
This quiz is to test your knowledge of Entrepreneurs, what it takes to become one and the responsibilities of Entrepreneurs.
- 1.Something with separate existence.
- A.
Entity
- B.
Franchiser
- C.
Franchise
- D.
Obligation
- 2.A business that is owned by shareholders and that operates separately from its owners.
- A.
Feedback
- B.
Franchisee
- C.
Corporation
- D.
Sole Proprietorship
- 3.A type of partnership in which the liability and involvement of certain partners is limited.
- A.
Venture
- B.
Corporation
- C.
Business Plan
- D.
Limited Partnership
- 4.Partners share equal responsibility for debts and all have unlimited liability.
- A.
Liability
- B.
General Partnership
- C.
Partnership
- D.
Antitrust Laws
- 5.A binding promise, contract, sense of duty, etc.
- A.
Franchisee
- B.
Information Economy
- C.
Obligation
- D.
Debt
- 6.Involves two or more people who become responsible for debts, obligations and success of a business.
- A.
Free Enterprise System
- B.
Corporation
- C.
Partnership
- D.
Sole Proprietorship
- 7.Something owed.
- A.
Debt
- B.
Initiative
- C.
Liability
- D.
Interdepartmental
- 8.Moneys owed; debts.
- A.
Debt
- B.
Initiative
- C.
Interdepartmental
- D.
Liability
- 9.You, as an individual, are responsible for business debts and your personal property can be used as repayment.
- A.
Franchise
- B.
Unlimited Liability
- C.
Liability
- D.
Entity
- 10.A business that is owned and operated by one person.
- A.
Sole Proprietorship
- B.
Corporation
- C.
Entrepreneur
- D.
Venture
- 11.The company whose products the franchisee will sell.
- A.
Franchisee
- B.
Antitrust Laws
- C.
Franchiser
- D.
Franchise
- 12.The person or group who buys the franchise.
- A.
Franchisee
- B.
Franchise
- C.
Franchiser
- D.
Antitrust Laws
- 13.A written contract granting permission to sell someone else’s product or service in a prescribed manner over a certain period of time and in a specified territory.
- A.
Franchiser
- B.
Antitrust Laws
- C.
Franchisee
- D.
Franchise
- 14.A document that describes the important characteristics of a business: including the type of business, its products, the industry, a marketing plan, the manner of operation and the financial information.
- A.
Procrastinators
- B.
Information Economy
- C.
Business Plan
- D.
American Dream
- 15.An economy that is largely based on the trade information and the management of the tools used to distribute that information.
- A.
Information Economy
- B.
American Dream
- C.
Interdepartmental Economy
- D.
Unlimited Liability
- 16.The freedom, equality, and opportunity available to all Americans.
- A.
Antitrust Laws
- B.
American Dream
- C.
Venture
- D.
Entity
- 17.Laws that are designed to promote competition and fairness and to prevent monopolies and other unfair business practices.
- A.
Partnership
- B.
Obligation
- C.
American Dream
- D.
Antitrust Laws
- 18.A system in which most economic resources are privately owned and individuals are free to decide what they will produce with the resources.
- A.
Free Enterprise System
- B.
Antitrust Laws
- C.
Initiative
- D.
Procrastinators
- 19.Readiness to undertake something on one’s own.
- A.
Venture
- B.
Interdepartmental
- C.
Procrastinators
- D.
Initiative
- 20.Risk or take a chance on.
- A.
Obligation
- B.
Entity
- C.
Venture
- D.
Feedback
- 21.A reaction or response to a particular process or activity.
- A.
Venture
- B.
Feedback
- C.
Corporation
- D.
Interdepartmental
- 22.Involving or existing between two or more departments.
- A.
Interdepartmental
- B.
Feedback
- C.
Venture
- D.
Liabilty
- 23.One who organizes the start-up of a new venture and takes the risks necessary to start a business.
- A.
Partnership
- B.
Initiative
- C.
Procrastinator
- D.
Entrepreneur
- 24.They don’t allow enough time to complete tasks and end up feeling negative and guilty and avoiding future tasks.
- A.
Debt
- B.
Obligation
- C.
Procrastinator
- D.
Initiative
- 25.Entrepreneurs as a group have enormous influential power in political lobbying, purchasing and shaping their communities.
- A.
True
- B.
False
Questions: 578 | Attempts: 12217 | Last updated: Mar 22, 2022
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