Business And Economics Quiz Questions And Answers
10 Questions
| Total Attempts: 170
This a quiz over ALL of Chapter 6! There can be more than one correct answer
Questions and Answers
- 1.Which of these answers is a source of income for entrepreneurs?
- A.
Family
- B.
Friends
- C.
Venture Capital
- 2.The small business administration considers a business small if it employs fewer than--- employees
- A.
5
- B.
20
- C.
100
- D.
500
- 3.True or False. everyone who owns or manages a business is an entrepreneur.
- A.
True
- B.
False
- 4.Evry business begins with a(n)
- A.
Customer
- B.
Profit
- C.
Idea
- D.
Invention
- 5.Which of the following is not one of the reasons small business fail?
- A.
Poor customer credit practices
- B.
The owner soes not have adequate experience
- C.
A poor business location
- D.
Not enough employeepto do the work
- 6.True or False most small business owners enjoy being part of a team
- A.
True
- B.
False
- 7.True or False a business plan does not have to be written since the business owner is well aware of the information in the plan
- A.
True
- B.
False
- 8.True or False the primary reason that businesses started by entrepreneurs close is disagreements with business partners.
- A.
True
- B.
False
- 9.Money provided by large investors to finance new products and new businesses that have a good chance to be very profitable is known as
- A.
A loan
- B.
Credit
- C.
Venture capital
- D.
Start up funding
- 10.A conpetitive advantage that small businesses have over larger businesses is
- A.
Lower costs
- B.
more consumer research
- C.
Lower prices
- D.
Attentionto unique customer needs
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