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Entrepreneurship Quiz Flashcards | StudBud
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Entrepreneurship Quiz
Entrepreneurship Quiz
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1
Who among the following is not an entrepreneur
A small business owner
Personal Trainer
An employee of a firm
Freelance Online Developer
2
A farm, retail establishment, and home based business are examples of
partnership
corporation
sole proprietorship
Multinational Company
3
The quality of being honest and having strong moral principles is known as
Creative
Innovative
Persistent
Integretity
4
Which is NOT a characteristic of an entrepreneur?
Procrastinator
Independent
Creative
Self-motivated
5
Sole proprietors find it easy to get financial assistance.
False
True
6
Entrepreneurs can fail even if they are committed.
False
True
7
An entrepreneur can expect to earn large profits immediately after starting a business.
False
True
8
Continuing to exist or enduring over a prolonged period of time is Known as
Ethical
Enthusiastic
Persistent
Inquisitive
9
The easiest business organization to form is a
Multinational Company
partnership
sole proprietorship
corporation
10
Most number of entrepreneurial ventures are established in
USA
Europe
Asia
Australia
11
Steve Jobs (founder of Apple Inc) mainly displayed this entrepreneurial characteristic
Integretity
Independent
Innovative
Responsible
12
Which is not a "4 P's of marketing"?
Price
Place
People
Product
13
What is the main reason why many entrepreneurs fail?
incorrect pricing
improper inventory
poor management
bad attitude
14
A franchisee doesn't maintain day to day operations or receive profit from the business.
False
True
15
Which is NOT an advantage of entrepreneurship?
Keep the profit
Risk of failing
Make all decisions
Be own boss
16
A company that produces their goods in a factory is called what
wholesaler
retailer
partnership
manufacturer
17
H&M, Target & Walmart are examples of
retailers
manufacturers
wholesalers
service providers
18
An entrepreneur owns, operates, and takes risk of a business venture.
False
True
19
Which of the following is a reason that a franchise is an advantage?
less work hours
brand recognition
freedom to create new products
royalty fees
20
McDonald's, Burger King, and Pizza hut are all
sole proprietorships
family owned
partnerships
franchises
