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Entrepreneurship Flashcards | StudBud
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Entrepreneurship
Entrepreneurship
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A quiz designed to recap your knowledge of entrepreneurial behaviours and practices.
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
What is entrepreneurship?
Designing a new business
Stealing money from other businesses
Giving money to a new business
2
What should every business have before they start operating?
Building
Business Plan
Employees
Product
3
What is ONE entrepreneurial characteristic Oprah Winfrey is known for?
Creativity
Resilience
Specialised knowledge
Optimism
4
Who is the founder of Facebook?
Steve Jobs
Mark Zuckerberg
Justin Timberlake
Bill Gates
5
The process used to test a business concept that helps decide whether a business has potential
Feasibility analysis
Business Test
Business Plan
6
Which of these is NOT an example of a characteristic of an entrepreneur?
resilience
responsible risk taker
optimism
talent
7
Government agency which provides services to start-up businesses and entrepreneurs?
Medicare
Centrelink
Small Business Help Line
Small Business Development Corporation
8
Entrepreneurs are born, not made
True
False
9
A clear and concise description of a start-up business is known as a ... ?
Business concept
Business plan
Industry test
Business test
10
What is ONE creative process a business can undertake?
Surveys
SCAMPER
Think, Pair, Share
Market research
11
Directors of a company have limited liability?
True
False
12
Finding new creative ways of doing things is called?
Creativity
Innovation
Outsourcing
13
Who is this?
Oprah Winfrey
Mariah Carey
Whoopi Goldberg
Beyonce
14
What does the 'S' stand for in SCAMPER?
Seriousness
Swap
Sale ability
Substitute
15
Which type of legal structure gives the owner total decision-making power in the business?
Sole Proprietor
Company
Trust
Partnership
16
What is the definition of creativity?
Imagination or inspiration of new ideas or thought
process of developing novel and marketable ideas
novelty or uniqueness
17
How should we think about a problem if we are wearing De Bono's RED hat?
Using objective reports and data
The bigger picture
Speculatively and creatively
With our gut and emotions
18
If I am looking at a PMI analysis for my business, I am...?
Being innovative
Making a decision
Analysing my market share
19
Which type of legal structure allows the business to issue and sell shares for finance?
Partnership
Company
Trust
20
Sole Trader businesses are easy and inexpensive to create?
False
True
