Entrepreneurship And Small Business Management Unit 1 Quiz

12 Questions | By Sandramaewiggan | Updated: Mar 21, 2022 | Attempts: 528

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1.

An individual who undertakes the creation, organization and ownership of a business is called (an):
- A.
  
  Investor
- B.
  
  Business broke
- C.
  
  Role model
- D.
  
  Entrepreneur
2.

Selling and shipping products to another country is called:
- A.
  
  Importing
- B.
  
  Trade barriers
- C.
  
  Trade missions
- D.
  
  Exporting
3.

Money left over after all expenses of running a business have been deducted from income revenue is:
- A.
  
  Investment
- B.
  
  Profit
- C.
  
  Capital
- D.
  
  Enterprise
4.

The seller of a franchise is called a:
- A.
  
  Partner
- B.
  
  Competitor
- C.
  
  Entrepreneur
- D.
  
  Franchiser
5.

To identify consumer markets, you have to be aware of:
- A.
  
  Services
- B.
  
  Demographc changes
- C.
  
  Technology
- D.
  
  Investors
6.

A company that handles overseas shipments for a fee is called a(n):
- A.
  
  Business broker
- B.
  
  Franchiser
- C.
  
  Freight forwarder
- D.
  
  Joint venture
7.

A partnership created by two or more companies for a specific purpose over a set period of time is called a(n):
- A.
  
  Franchise
- B.
  
  Joint venture
- C.
  
  Investment
- D.
  
  Strategic alliance
8.

If a small change in the price of an item causes a significant change in the quantity demanded, we say that the demand for the item is:
- A.
  
  Inelastic
- B.
  
  Scarce
- C.
  
  High
- D.
  
  Elastic
9.

The amount of money one puts into a business is called a(n):
- A.
  
  Market
- B.
  
  Investment
- C.
  
  Profit
- D.
  
  Capital
10.

The point at which consumers buy all of a product that is supplied is called:
- A.
  
  Equilibrium
- B.
  
  Profit
- C.
  
  Capital
- D.
  
  Investment
11.

One of the risks of being in business for yourself is:
- A.
  
  Being your own boss
- B.
  
  Competition
- C.
  
  Uncertain income
- D.
  
  Loss of prestige
12.

The _ _ _ _ _ _ _ _ is a large computer network that links smaller computer networks worldwide.

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