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Entrepreneurship Quiz Flashcards | StudBud
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Entrepreneurship Quiz
Entrepreneurship Quiz
20 terms
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StudBud Administration
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BMS 5 E ( IM)
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Innovation can best be defined as .
the evolution of new ideas.
the successful exploitation of new ideas.
the generation of new ideas.
the opposite of creativity.
2
Which one of the following describes unemployment?
The number of people who voluntarily choose not to work.
The number of people actively seeking work who find work.
The number of people who are not actively seeking work.
The number of people who are jobless and are actively seeking work.
3
Good sources of information for an entrepreneur about competitors can be obtained from
Product information leaflets.
Company reports and published accounts.
Websites.
All the above.
4
Which of the list below does not form Intellectual Property?
Copyright.
Trade marks.
Patents.
Tangible assets.
5
The use of informal networks by entrepreneurs to gather information is known as .
Entrepreneurial networking.
Marketing
Informal parameters
Secondary research.
6
In , machines and equipments are arranged in the order or sequence in which they are to be used for man
Product Layout.
Process Layout.
Combined Layout.
Factory Layout.
7
Which of these statements best describes the context for entrepreneurship?
Entrepreneurship takes place in large businesses.
Entrepreneurship does not take place in social enterprises.
Entrepreneurship takes place in small businesses.
Entrepreneurship takes place in a wide variety of contexts.
8
A business arrangement where one party allows another party to use a business name and sell its products or services is
A cooperative.
A limited company.
An owner-manager business.
A franchise.
9
Why are small businesses important to a country's economy?
They can be innovators of new products
They can provide specialist support to larger companies.
They give an outlet for entrepreneurs.
All the above
10
Entrepreneurs are motivated by .
personal values.
money.
All the above.
pull influences.
11
A new venture's business plan is important because
Provides a guide for business activities by defining objectives.
It helps to persuade others to commit funding to the venture.
All the above.
Can help demonstrate the viability of the venture.
12
is a form of financing especially for funding high technology, high risk and perceived high reward projects
Venture capital.
Seed capital.
Current capital.
Fixed capital.
13
Which could provide an individual with the motivation to start a new business venture?
Risk takingRisk taking
All the above.
A desire to be independent
The financial rewards.
14
A key aspect of the financial section of the business plan is .
Production capacity.
A description of competitors.
A statement of management skills.
A realistic sales forecast.
15
An entrepreneur who owns more than one business at a time is called
a corporate entrepreneur
an intrapreneur.
None of the above.
a portfolio entrepreneur.
16
1. An individual who initiates, creates and manages a new business can be called
A manager
A leader
A professional
An entrepreneur
17
Which of the following is the reason for business failure
Poor management.
Lack of market research.
All the above.
Poor financial control.
18
Primary data is .
new data specifically collected for a project.
data that is collected second.
the data that is collected first.
the most important data.
19
To provide financial assistance to entrepreneurs the government has set up a number of
financial intermediaries.
financial institutions.
Industrial estates.
financial advisors.
20
Idea of new product is tested in potential consumers to determine consumer acceptance at stage.
Commercialization.
Test marketing.
Product development.
Concept.
