Which of the following is NOT a creative thinking exercise entrepreneurs use to get ideas?

Judge each idea as realistic or not

Which of the following is NOT one of the four steps to preparing a sales forecast?

SELECT ORGANIZATIONAL STRUCTURE FOR YOUR COMPANY

What is the definition of an entrepreneur?

Someone who creates, owns, and potentially runs a business

What is the main difference between a personal characteristic and a skill?

Skills are learned, characteristics are inherent qualities

Which of the following is NOT true about an entrepreneur?

Their salary is evaluated based on completing task

Which of the following is probably NOT an important point to include in a business pitch?

Detailed description of the meaning behind the company name

What is the best reason to study entrepreneurship?

Thinking like an entrepreneur helps you be a better student

Which statement is the best description of a Value Proposition?

The features & benefits that make product or business unique

What are the four parts of a SWOT Analysis?

Strengths, Weaknesses, Opportunities, Threats

Which o the following is a start-up expense for Maria’s food truck?

Kitchen appliances & equipment to conduct her business

Which of the following is an advantage of starting your own business?

You have control over where and when you work.

What role do entrepreneurs play in economics?

Entrepreneurs create the businesses to produce for economy

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Questions 20

Answers

1
Which of the following is NOT a creative thinking exercise entrepreneurs use to get ideas?
Draw Idea Maps
Think Backward
Judge each idea as realistic or not
Challenge the Usual
2
Which of the following is NOT one of the four steps to preparing a sales forecast?
REVIEW PAST SALES OR PAST TRENDS IN THE INDUSTRY
analyze company & market conditions using SWOT analysis
ESTIMATE YOUR FUTURE SALES FOR SPECIFIC TIME PERIOD
SELECT ORGANIZATIONAL STRUCTURE FOR YOUR COMPANY
3
Which is NOT part of a consumer profile?
Demographics
Psychographics
Buying Patterns
Polygraphics
4
What is the definition of an entrepreneur?
Someone who manages a business.
Someone who owns a business & makes profit from the business
Someone who creates, owns, and potentially runs a business
None of the above
5
What is the main difference between a personal characteristic and a skill?
Personal characteristics become skills over time
You can learn personal characteristic, not a skill.
Skills are learned, characteristics are inherent qualities
People are born with business skills not characteristics
6
Which of the following is NOT true about an entrepreneur?
An entrepreneur gets to act as his own boss.
Their salary is evaluated based on completing task
An entrepreneur is responsible for success of their business
An entrepreneur has ownership in the business.
7
Your friend is developing a marketing plan for his new business. What should he put in the plan
All of the above
The price of her product
where she wants to sell her product
description of the people in her target market
8
Which of the following is probably NOT an important point to include in a business pitch?
Detailed description of the meaning behind the company name
Reasons why potential customers should care
How product or service is different
Problems that the product or service solves
9
Which of the following is NOT a true statement about business plans?
They can help lower the risk of starting a new business.
They should never be revised
They should include a overview of business goals.
They are created before starting a business.
10
Which of these is NOT considered a skill?
Communication Skills
Determination Skills
Business Skills
People Skills
11
An example of an asset is:
Phone
Money
All of the above
Time
12
What is the best reason to study entrepreneurship?
Knowing about entrepreneurship = you will never have a boss
none of the above
Thinking like an entrepreneur helps you be a better student
Entrepreneurs don't worry about grades
13
Which statement is the best description of a Value Proposition?
The features & benefits that make product or business unique
None of the above.
A part of the plan that identifies the market for product.
The cost of creating the product.
14
What could Pete do to try to improve his net profit?
Increase prices
increase number of cupcakes he sells
Decrease his fixed expenses
All of the above
15
Which of the following is NOT necessarily a characteristic of successful entrepreneurs?
Comfort with risk
Aggressiveness and Intensity
Initiative and Self-Direction
Creativity and Collaboration
16
What are the four parts of a SWOT Analysis?
Sales, Work ethic, Organization, Training
Strengths, Weaknesses, Obstacles, Threats
Strengths, Weaknesses, Opportunities, Threats
Strengths, Weaknesses, Options, Threats
17
Which o the following is a start-up expense for Maria’s food truck?
Gas
All of the above
Kitchen appliances & equipment to conduct her business
Cell phone bill
18
Which of the following is an advantage of starting your own business?
If you make a business plan, you know obstacles to expect
You have control over where and when you work.
During the start-up phase, you do not to think about funding
You are the decision maker, so there is little to no risk
19
What role do entrepreneurs play in economics?
Entrepreneurs create the businesses to produce for economy
Entrepreneurs tell consumers what they should want of need
None of the above
Entrepreneurs borrow money from the economy
20
Which of the following is a fixed expense for Maria’s sandwich food truck?
Advertising
Truck insurance
All of the above
Salaries for her employees

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