Entrepreneurship And Small Business Management Unit 1 Quiz

12 Questions | Total Attempts: 65

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Small Business Quizzes & Trivia

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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.