Which of the following is probably NOT an important point to include in a business pitch?

Detailed description of the meaning behind the company name

What role do entrepreneurs play in economics?

Entrepreneurs create the businesses to produce for economy

Which of the following is NOT one of the four steps to preparing a sales forecast?

SELECT ORGANIZATIONAL STRUCTURE FOR YOUR COMPANY

What is the definition of an entrepreneur?

Someone who creates, owns, and potentially runs a business

Which of the following is an advantage of starting your own business?

You have control over where and when you work.

Which of the following is NOT a creative thinking exercise entrepreneurs use to get ideas?

Judge each idea as realistic or not

Which statement is the best description of a Value Proposition?

The features & benefits that make product or business unique

Which of the following is NOT true about an entrepreneur?

Their salary is evaluated based on completing task

What is the main difference between a personal characteristic and a skill?

Skills are learned, characteristics are inherent qualities

What are the four parts of a SWOT Analysis?

Strengths, Weaknesses, Opportunities, Threats

What is the best reason to study entrepreneurship?

Thinking like an entrepreneur helps you be a better student

Which o the following is a start-up expense for Maria’s food truck?

Kitchen appliances & equipment to conduct her business

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Everfi-Venture Review

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Everfi Venture

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Questions 21

Answers

1
Which of the following is probably NOT an important point to include in a business pitch?
Reasons why potential customers should care
How product or service is different
Problems that the product or service solves
Detailed description of the meaning behind the company name
2
What role do entrepreneurs play in economics?
Entrepreneurs tell consumers what they should want of need
Entrepreneurs borrow money from the economy
None of the above
Entrepreneurs create the businesses to produce for economy
3
Which of the following is NOT one of the four steps to preparing a sales forecast?
SELECT ORGANIZATIONAL STRUCTURE FOR YOUR COMPANY
REVIEW PAST SALES OR PAST TRENDS IN THE INDUSTRY
ESTIMATE YOUR FUTURE SALES FOR SPECIFIC TIME PERIOD
analyze company & market conditions using SWOT analysis
4
What could Pete do to try to improve his net profit?
increase number of cupcakes he sells
Decrease his fixed expenses
All of the above
Increase prices
5
What is the definition of an entrepreneur?
Someone who manages a business.
Someone who owns a business & makes profit from the business
Someone who creates, owns, and potentially runs a business
None of the above
6
Which of the following is an advantage of starting your own business?
You are the decision maker, so there is little to no risk
During the start-up phase, you do not to think about funding
If you make a business plan, you know obstacles to expect
You have control over where and when you work.
7
Your friend is developing a marketing plan for his new business. What should he put in the plan
The price of her product
All of the above
where she wants to sell her product
description of the people in her target market
8
Which is NOT part of a consumer profile?
Buying Patterns
Demographics
Polygraphics
Psychographics
9
Which of the following is a fixed expense for Maria’s sandwich food truck?
Advertising
Truck insurance
Salaries for her employees
All of the above
10
Which of the following is NOT a creative thinking exercise entrepreneurs use to get ideas?
Judge each idea as realistic or not
Challenge the Usual
Draw Idea Maps
Think Backward
11
Which statement is the best description of a Value Proposition?
None of the above.
A part of the plan that identifies the market for product.
The features & benefits that make product or business unique
The cost of creating the product.
12
Which of the following is NOT true about an entrepreneur?
An entrepreneur is responsible for success of their business
An entrepreneur gets to act as his own boss.
An entrepreneur has ownership in the business.
Their salary is evaluated based on completing task
13
An example of an asset is:
Money
All of the above
Time
Phone
14
What is the main difference between a personal characteristic and a skill?
Skills are learned, characteristics are inherent qualities
People are born with business skills not characteristics
Personal characteristics become skills over time
You can learn personal characteristic, not a skill.
15
What are the four parts of a SWOT Analysis?
Strengths, Weaknesses, Obstacles, Threats
Strengths, Weaknesses, Opportunities, Threats
Sales, Work ethic, Organization, Training
Strengths, Weaknesses, Options, Threats
16
Which of the following is NOT a true statement about business plans?
They are created before starting a business.
They can help lower the risk of starting a new business.
They should never be revised
They should include a overview of business goals.
17
Which of these is NOT considered a skill?
People Skills
Communication Skills
Business Skills
Determination Skills
18
Did Pete’s business broke even? (meaning, covered its fixed expenses and become profitable)
yes
not enough information
this is not the answer
no
19
What is the best reason to study entrepreneurship?
Thinking like an entrepreneur helps you be a better student
Knowing about entrepreneurship = you will never have a boss
none of the above
Entrepreneurs don't worry about grades
20
Which of the following is NOT necessarily a characteristic of successful entrepreneurs?
Creativity and Collaboration
Comfort with risk
Initiative and Self-Direction
Aggressiveness and Intensity
21
Which o the following is a start-up expense for Maria’s food truck?
Cell phone bill
Kitchen appliances & equipment to conduct her business
All of the above
Gas

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