Entrepreneurship And Small Business Management Unit 1 Quiz
12 Questions
| Total Attempts: 190
Questions and Answers
- 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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