Entrepreneurship Mid Term Review

Question 1

Gives one an opportunity to educate people re: premature birth, the #1 cause of babies deaths.

Accepted Answer

Prematurity Awareness

Question 2

What is the National FBLA-PBL theme for the 2016-2017 school year?

Accepted Answer

Time to Shine

Question 3

FBLA-PBL is divided into _______ administrative regions.

Accepted Answer

five

Question 4

FBLA-PBL Week is held each year during the month of ____________.

Accepted Answer

February

Question 5

Driving force of the start-up process; they recognize opportunities, gather & exploit resources

Accepted Answer

entrepreneur

Question 6

A that must be completed for people who are seeking potential employment within a company.

Accepted Answer

job application

Question 7

The official colors of FBLA-PBL are?_________________________

Accepted Answer

blue and gold

Question 8

Having high expectations of oneself is called ________________.

Accepted Answer

self-confident

Question 9

Which of the following are questions that an interviewer cannot ask? ____

Accepted Answer

all of these

Question 10

After an interview, you should follow-up by doing which of the following?

Accepted Answer

all of these

Question 11

Information about a job from friends, classified ads, a teacher, school counselor is a

Accepted Answer

job lead

Question 12

What does FBLA stand for? _______________________

Accepted Answer

Future Business Leaders of America

Question 13

Intangible (nonphysical) products of our economic system that satisfy consumers’ wants & needs.

Accepted Answer

Services

Question 14

One specific advantage of being an entrepreneur is having __________.

Accepted Answer

the opportunity to become creative.

Question 15

Point at which consumers buy all of a product that is supplied. neither surplus or a shortage.

Accepted Answer

equilibrium

Question 16

Independence, personal satisfaction, and prestige are considered by most entrepreneurs as being

Accepted Answer

important advantage of being self-employed.

Question 17

Infrastructure/ foundation that supports all products, processes, & services of a new business

Accepted Answer

new venture capital

Question 18

Your ___ determine where your company to be in sales & growth after 1 - 5 yrs of operation.

Accepted Answer

problem solving and decision making skills

Question 19

Someone whose job is to bring buyers and sellers of a business together for a fee is called a

Accepted Answer

broker

Question 20

The four stages of the business cycle include which of the following:

Accepted Answer

Growth, Recession, Depression, and Recovery

Question 21

A_____ is a gathering of employers and job hunters in order to seek out potential employees.

Accepted Answer

job/career fair

Question 22

The beliefs and principals by which you choose to live by is called ____________.

Accepted Answer

niche, values

Question 23

Economic choice is about _______________.

Accepted Answer

choosing to own private property.

Question 24

____________ is the gestures, postures, and eye contact that you use to send messages.

Accepted Answer

Body language

Question 25

____ is what is left after all the expenses of running a business are deducted from the income.

Accepted Answer

Profit

Question 26

What are four basic questions that an economic system attempts to answer?

Accepted Answer

all of these

Question 27

A person who undertakes the creation, organization, and ownership of a business.

Accepted Answer

entrepreneur

Question 28

What is the correct web address for FBLA? ______________________

Accepted Answer

http://www.fbla-pbl.org/

Question 29

A _____ is the work, duty, or task that a person does regularly in order to earn money.

Accepted Answer

Job

Question 30

Which of the following topics is illegal for an employer to ask about? _________

Accepted Answer

your citizenship

Question 31

The seller of a franchise is called a(n) ____________.

Accepted Answer

franchisor

Question 32

Capital, labor, legal/financial advice, facilities, customers, etc. needed for business startup

Accepted Answer

start-up resources

Question 33

Law that establishes price alone doesn't determine demand & other factors, e.g. income, taste.

Accepted Answer

diminishing marginal utility

Question 34

What are the four basic factors of production? __________

Accepted Answer

land, labor, capital, entrepreneurship

Question 35

A _________________ is an idea that has commercial value.

Accepted Answer

opportunity

Question 36

_____ are state and federal laws that regulate the conduct and organization of businesses.

Accepted Answer

Antitrust

Question 37

Setting one’s own agendas and schedules and making one’s own decisions is called ______.

Accepted Answer

being responsible

Question 38

The favor and loyalty of a business acquires by its good reputation is called _________.

Accepted Answer

goodwill

Question 39

The land for the FBLA-PBL National Center was purchased through a grant from the _______.

Accepted Answer

Conrad Hilton Foundation

Question 40

The Gold Seal Award of Merit is named after __________________________.

Accepted Answer

Hollis and Kitty Guy

Question 41

Many entrepreneurs were influenced early in life by _________________.

Accepted Answer

entrepreneurial role models

Question 42

Which of the following are questions that an interviewer can ask?

Accepted Answer

Why should I hire you for this position?

Question 43

The matchmaker between job seekers & companies; sole purpose of filling company job openings.

Accepted Answer

Employment agencies

Question 44

The buyer of a franchise is called a(n) ___________________.

Accepted Answer

franchisee

Question 45

Process of recognizing an opportunity, test the market, & gather resources to start a business.

Accepted Answer

entrepreneurship

Question 46

The process of working collaboratively with a group in order to reach a common goal is called__

Accepted Answer

teamwork

Question 47

Specially designated areas of a community that provide tax benefits to new businesses.

Accepted Answer

Enterprise Zones

Question 48

When is American Enterprise Day? ____________________

Accepted Answer

November 15

Question 49

Which of the following are questions that you cannot ask during an interview?

Accepted Answer

When will I get a raise?

Question 50

Point at which consumers buy all of a product that is supplied; neither surplus or a shortage.

Accepted Answer

equilibrium

Entrepreneurship Mid Term Review

Questions 50

Entrepreneurship Mid Term Review

Questions 50