Entrepreneurship I Standard 2.00

Question 1

Which personality trait is often associated with creative people? 2.05

Accepted Answer

Acting independently

Question 2

A business that identifies products to see that fill needs is making which decision? 2.07

Accepted Answer

Product mix

Question 3

Which is an example of a demographic trend that has encouraged entrepreneurial discovery? 2.01

Accepted Answer

Increased cultural diversity

Question 4

Which is the first factor a business considers when deciding if it should sell a product? 2.07

Accepted Answer

Market demand

Question 5

Which is a tool that an entrepreneur develops to project sales for a new business venture? 2.09

Accepted Answer

Sales forecast

Question 6

What is necessary to determine the existence of goods and services?2.01

Accepted Answer

Entrepreneurial discovery

Question 7

The brainstorming process is used to accomplish which primary goal? 2.04

Accepted Answer

Come up with as many ideas as possible

Question 8

Which is a characteristic of a well-conducted feasibility study? 2.13

Accepted Answer

Complete

Question 9

Variable expenses increase in direct proportion to the rate of which factor? 2.10

Accepted Answer

Production

Question 10

Which is an operational issues entrepreneurs must consider when planning their business? 2.09

Accepted Answer

Production process

Question 11

An entrepreneur considers location and financial needs of a venture during which process? 2.09

Accepted Answer

Planning

Question 12

Which statement is true about a business environment? 2.02

Accepted Answer

It is always changing

Question 13

Which is an example of a demographic trend that has encouraged entrepreneurial discovery? 2.01

Accepted Answer

Increased cultural diversity

Question 14

The costs of operating a business are often called which expenses? 2.10

Accepted Answer

Overhead

Question 15

Which example illustrates how environmental factors are interrelated? 2.02

Accepted Answer

The economy affects what competitors are doing

Question 16

People who are naturally creative often possess which attribute? 2.05

Accepted Answer

Mentally flexible

Question 17

How can a business can determine if a product will fulfill needs of a target market? 2.07

Accepted Answer

Ask the customers

Question 18

Which is usually a characteristic of a creative person? 2.05

Accepted Answer

Likes to seek out new challenges

Question 19

What is often a positive result of accepting responsibility for a poor decision? 2.08

Accepted Answer

The gain of respect of others

Question 20

In an environmental scan, which is an economic factor that a business should consider? 2.02

Accepted Answer

Consumer spending habits

Question 21

The primary purpose of a feasibility study is to answer which question? 2.13

Accepted Answer

Should we proceed with this project?

Question 22

Which process helps aspiring entrepreneurs generate venture ideas? 2.06

Accepted Answer

Creative thinking

Questions 22