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entrepreneurship quiz Flashcards | StudBud
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entrepreneurship quiz
entrepreneurship quiz
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Flashcards
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Questions
13
Answers
1
a potential group of customers, people businesses able to purchase a particular product/service
The Market
An Indirect Competitor
A Direct Competitor
Sales force
2
Which of the following should you NOT do when collecting and evaluating data on your market?
Only look for data that supports your initial idea
Pick This One (if you bold)
3
Which of the following is NOT a true statement about business plans?
They are created before starting a business
They should never be revised
They can help lower the risk of starting a new business
4
The money that a entrepreneur earns when total costs are subtracted from total sales is called
overhead
profit
salary
contribution margin
5
____ are the operating expenses that a business must pay regardless of how many sales are made.
Fixed operating expenses
Profits
Variable expenses
Production costs
6
Which of the following is NOT considered a risk of being an entrepreneur?
Financial Insecurity
Potential Business Failure
Providing value to others
Long hours and hard work
7
select one of the following that are skills:
. People skills
Determination Skills
Business skills
Communication Skills
8
What does a SWOT analysis evaluate?
Strengths, Weaknesses, Opposition, Threats
Strengths, Weaknesses, Opportunities, Targets
Strengths, Weaknesses, Opportunities, Threats
Symptoms, Weaknesses, Opportunities, Threats
9
Which of the following is an advantage of starting your own business?
You have control over where and when you work
During the startup phase you dont have to think about fundin
Youre in charge of the decisions so theres little tono risk
10
____ is a quick description of your business that you use to explain it to potential investors.
sales forecast
business pitch
business plan
business analysis
11
What is the main difference between a personal characteristic and a skill?
You can learn a characteristic, but not skills
Skills can be learned while characteristics are inherent
Characteristics become skills over time
12
What is the definition of an entrepreneur?
Don't pick this one
An entrepreneur is someone who manages a business.
A is Wrong?
13
Which of the following are assests?
Time
All of the above
A Car
Money
