Ch. 11 The Entrepreneurial Spirit

51 Questions | Total Attempts: 252

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Spirit Quizzes & Trivia

This quiz is to test your knowledge of Entrepreneurs, what it takes to become one and the responsibilities of Entrepreneurs.


Questions and Answers
  • 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

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