Entrepreneurship Quiz: Questions And Answers

21 Questions | Total Attempts: 39153

SettingsSettingsSettings
Please wait...
Entrepreneurship Quiz: Questions And Answers

Entrepreneurship is the pride of creating something. It's something that is going to make a difference in others' life. Well, it's built upon the knowledge of many things, but first of all, you have to be clear about the concepts of entrepreneurship. This is a quiz to find out how much you already know about entrepreneurship.


Questions and Answers
  • 1. 
    People who work for someone else:
    • A. 

      Aptitude

    • B. 

      Employee

    • C. 

      Entrepreneurs

    • D. 

      Entrepreneurship

  • 2. 
    Evaluation of your strengths and weaknesses:
    • A. 

      Self Assessment

    • B. 

      Employee

    • C. 

      Entrepreneurship

    • D. 

      Entrepreneur

  • 3. 
    People who own, operate, and take risk of a business venture:
    • A. 

      Aptitude

    • B. 

      Employee

    • C. 

      Entrepreneurs

    • D. 

      Entrepreneurship

  • 4. 
    The ability to learn a particular kind of job:
    • A. 

      Aptitude

    • B. 

      Employee

    • C. 

      Entrepreneurship

    • D. 

      Entrepreneur

  • 5. 
    Which one is NOT a disadvantage of Entrepreneurship?
    • A. 

      Risky

    • B. 

      Uncertain Income

    • C. 

      You are the boss

    • D. 

      Work long hours

  • 6. 
    Which one is NOT an advantage of Entrepreneurship?
    • A. 

      Can choose a business of interest.

    • B. 

      You can be creative.

    • C. 

      Make a lot of money.

    • D. 

      You will make decisions alone.

  • 7. 
    What type of entrepreneurial business actually produce the products they sell?
    • A. 

      Manufacturing

    • B. 

      Wholesaling

    • C. 

      Retailing

    • D. 

      Service

  • 8. 
    What type of entrepreneurial business sells products to people other than the final customer?
    • A. 

      Manufacturing

    • B. 

      Wholesaling

    • C. 

      Retailing

    • D. 

      Service

  • 9. 
    What type of entrepreneurial business sells products directly to the people who use or consume them?
    • A. 

      Manufacturing

    • B. 

      Wholesaling

    • C. 

      Retailing

    • D. 

      Service

  • 10. 
    What type of entrepreneurial business sells service instead of a product?
    • A. 

      Manufacturing

    • B. 

      Wholesaling

    • C. 

      Retailing

    • D. 

      Service

  • 11. 
    What is an office memorandum?
    • A. 

      Message from one person to another.

    • B. 

      A short written form of business communication.

    • C. 

      Short speech

    • D. 

      Letter

  • 12. 
    If you own your own business you will need to know how to calculate your profit. Which one is a calculation of profit?
    • A. 

      Sales-months in a year

    • B. 

      Sales-expenses

    • C. 

      Total sales-expenses

    • D. 

      Monthly sales* expenses

  • 13. 
    Which one is NOT a step in the problem-solving method?
    • A. 

      Define the problem

    • B. 

      Gather information

    • C. 

      Identify solutions

    • D. 

      Ignore the problem

  • 14. 
    What type of economy allows the government to determine what, how, and whom products and services are produced?
    • A. 

      Command

    • B. 

      Market

  • 15. 
    This economy is about personal choice. Individuals decide what, how, and for whom products and services are produced.
    • A. 

      Market

    • B. 

      Command

  • 16. 
    What is a fixed cost?
    • A. 

      The cost that goes up and down.

    • B. 

      The cost that remains the same.

    • C. 

      Measure the disadvantages of production.

    • D. 

      Measure advantages of production.

  • 17. 
    What is the opportunity cost?
    • A. 

      Going with your first option.

    • B. 

      Going with the easiest option.

    • C. 

      Choosing the best alternative.

  • 18. 
    What is the variable cost?
    • A. 

      Cost that goes up and down.

    • B. 

      Cost that remains the same.

    • C. 

      Measures the disadvantages of production.

    • D. 

      Measures advantages of production.

  • 19. 
    Chemicals, fabrics, and foods are examples of (BLANK) businesses.
  • 20. 
    Shopping malls, Krogers, and Best Buy are examples of a (BLANK) business.
  • 21. 
    What type of business are you interested in starting?  Where would it be located (which part of the city)? What would be a goal for your business?
Back to Top Back to top