stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Entrepreneurship Week 1 Quiz Flashcards | StudBud
Explore
/
Entrepreneurship Week 1 Quiz
Entrepreneurship Week 1 Quiz
15 terms
·
StudBud Administration
·
50 plays
Imported from external platform
Flashcards
15 cards
F
Practice quiz
P
Host live
L
Questions
15
Answers
1
Which of the following is NOT a factor of production?
Marketing
Land
Capital
Labor
2
What is the role of a mentor in entrepreneurship?
To offer guidance and advice based on experience
To conduct market research for the business
To manage day-to-day operations of the business
To provide financial investment in the business
3
Which term refers to the money needed to start and grow a business?
Profit
Capital
Inventory
Revenue
4
What is a "value proposition" in a business context?
The unique value a company offers to its customers
A proposal to potential investors
The legal structure of a business
A detailed plan for pricing products
5
A S-Corporation and Corporation are taxed at the same rate?
True
False
6
What does SWOT stand for?
Strategies, Wants, Options, and Targets
Strengths, Weaknesses, Opportunities, and Threats
Services, Workforce, Objectives, and Tactics
Sales, Wages, Outputs, and Taxes
7
A business plan is important because:
It guarantees business success
It helps secure funding and guides the business
It is required by law
It reduces taxes
8
What is Entrepreneurship?
Process of buying products at a low price and selling them at a high price
The process of starting and running your own business
The act of managing a large corporation
The practice of investing in stocks
9
What is a key characteristic of a successful entrepreneur?
Fear of failure
Adaptability and willingness to learn
Inability to work in teams
Reluctance to take risks
10
Which of the following is NOT a characteristic of an entrepreneur?
Risk-Taking
Leadership
Indifference to Failure
Creativity
11
What is a startup?
A government agency
A new, small business with potential for growth
A large, established business
A non-profit organization
12
Which type of business is owned by a single person?
Partnership
S-Corporation
LLP
Sole Proprietorship
13
Which of the following best describes "market research"?
Research conducted to develop new products
An analysis of a company's internal strengths and weaknesses
The study of financial markets
Process of gathering information about potential customers and competitors
14
Which of the following is an example of a service-based business?
Bakery
Clothing Store
Car Dealership
Law Firm
15
Which of the following best describes a social entrepreneur?
Someone who invests in technology startups
Someone who starts a business to maximize profits
Someone who manages a government project
Someone who focuses on creating social change through their business
