Entrepreneurship Multiple Choice Quiz

27 Questions | By Chetpersaud | Last updated: Mar 21, 2022 | Total Attempts: 929

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This is a multiple choice quiz. This is a pre-test to find out how much you already know about entrepreneurship. Do not leave any questions blank.

Questions and Answers

1.

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?
2.

Type response below
3.

Upload your response
4.

People who work for someone else
- A.
  
  Aptitude
- B.
  
  Employee
- C.
  
  Entrepreneurs
- D.
  
  Entrepreneurship
5.

Evaluation of your strenghths and weaknesses
- A.
  
  Self Assessment
- B.
  
  Employee
- C.
  
  Entrepreneurship
- D.
  
  Entrepreneur
6.

People who own, operate, and take risk of a business venture
- A.
  
  Aptitude
- B.
  
  Employee
- C.
  
  Entrepreneurs
- D.
  
  Entrepreneurship
7.

The ability to learn a particular kind of job
- A.
  
  Aptitude
- B.
  
  Employee
- C.
  
  Entrepreneurship
- D.
  
  Entrepreneur
8.

Which one is NOT a disadvantage of Entrepreneurship?
- A.
  
  Risky
- B.
  
  Uncertain Income
- C.
  
  You are the boss
- D.
  
  Work long hours
9.

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
10.

What type of entrepreneurial business actually produce the products they sell?
- A.
  
  Manufacturing
- B.
  
  Wholesaling
- C.
  
  Retailing
- D.
  
  Service
11.

What type of entrepreneurial business sells products to people other than the final customer?
- A.
  
  Manufacturing
- B.
  
  Wholesaling
- C.
  
  Retailing
- D.
  
  Service
12.

What type of entrepreneurial business sells products directly to the people who use or consume them?
- A.
  
  Manufacturing
- B.
  
  Wholesaling
- C.
  
  Retailing
- D.
  
  Service
13.

What type of entrepreneurial business sells service instead of a product?
- A.
  
  Manufaturing
- B.
  
  Wholesaling
- C.
  
  Retailing
- D.
  
  Service
14.

What is an office memorandum?
- A.
  
  Message from one person to another
- B.
  
  Short written form of business communication
- C.
  
  Short speech
- D.
  
  Letter
15.

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
16.

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
17.

What type of economy allows the goverment to determine what, how, and whom products and services are produced?
- A.
  
  Command
- B.
  
  Market
18.

This economy is about personal choice. Individuals decide what, how, and for whom products and services are produced.
- A.
  
  Market
- B.
  
  Command
19.

What is a fixed cost?
- A.
  
  Cost that go up and down
- B.
  
  Cost that remain the same
- C.
  
  Measure the disadvantages of production
- D.
  
  Measure advantages of production
20.

What is a variable cost?
- A.
  
  Cost that go up and down
- B.
  
  Cost that remain the same
- C.
  
  Measures the disadvantages of production
- D.
  
  Measures advantages of production
21.

What is opportunity cost?
- A.
  
  Going with your first option
- B.
  
  Going with the easiest option
- C.
  
  Choosing the best alternative
22.

Chemicals, fabrics, and foods are examples of (BLANK) businesses.
23.

Shopping malls, Krogers, and Best Buy are examples of a (BLANK) business.
24.

People who work for someone else
- A.
  
  Aptitude
- B.
  
  Employee
- C.
  
  Entrepreneurs
- D.
  
  Entrepreneurship
25.

People who work for someone else
- A.
  
  Aptitude
- B.
  
  Employee
- C.
  
  Entrepreneurs
- D.
  
  Entrepreneurship