Entrepreneurship Quiz

Question 1

What are the top number one reasons for startup failure ?

Accepted Answer

The lack of market need

Question 2

What is the average age of a successful startup founder?

Accepted Answer

45

Question 3

Someone who improves an existing business can be called _________.

Accepted Answer

An intrapreneur.

Question 4

Which of these statements best describes the context for entrepreneurship?

Accepted Answer

Entrepreneurship takes place in a wide variety of contexts.

Question 5

Which of the following is a recognized disadvantage of setting up as a start-up as compared with other routes to market?

Accepted Answer

There is a high failure rate

Question 6

Which could provide an individual with the motivation to start a new business venture?

Accepted Answer

All of the above

Question 7

What is the role of a Business Angel?

Accepted Answer

Provide capital in exchange for a stake in the business owenership

Question 8

You need to make sure you have a lot of money to get your startup off the ground.

Accepted Answer

False

Question 9

Which element is not included in the Business Model Canvas?

Accepted Answer

Key industry

Question 10

PERT stands for __________.

Accepted Answer

Programme Evaluation and Review Techniques.

Question 11

All of the following are popular demographic factors about entrepreneurs that have been studied EXCEPT:

Accepted Answer

Managing bureaucracy

Question 12

An entrepreneur who owns more than one business at a time is called ________

Accepted Answer

a portfolio entrepreneur

Question 13

An entrepreneur:

Accepted Answer

Accepts the risk of starting and running a business

Question 14

A unicorn company is there used in the venture capital industry to describe a startup company with a value of over….

Accepted Answer

$1 billion

Question 15

What role do entrepreneurs play in the economy?

Accepted Answer

Create the business that produce products that meet the wants of consumers

Question 16

What is the definition of an entrepreneur?

Accepted Answer

Creates a business and potentially makes money and runs the business

Question 17

A business arrangement where one party allows another party to use a business Name and sell its products or services is-

Accepted Answer

A franchise.

Question 18

Which country has the SECOND highest amount of unicorns?

Accepted Answer

China

Question 19

What makes a “small business owner”(BO) different from an “entrepreneur”(E)?

Accepted Answer

Small 'BO' want to make a living and 'E' want to change the world

Question 20

What is the next funding round after the Seed stage?

Accepted Answer

Series A

Question 21

There is more than one way to value a business, which of the list below is NOT commonly used?

Accepted Answer

The potential of the business

Question 22

Which of the following is NOT recognized as a misconception about entrepreneurship?

Accepted Answer

Entrepreneurial ventures and small businesses are different.

Question 23

Which company has the highest value/ worth?

Accepted Answer

Bytedance

Question 24

Why are small businesses important to a country's economy?

Accepted Answer

All the above.

Question 25

Which one of these companies has NOT reach unicorn status?

Accepted Answer

None, they are all unicorn companies

Question 26

Which unicorn company is the youngest (found most recently)?

Accepted Answer

Robinhood

Question 27

Which one of the following actions by an entrepreneur is most likely to contribute to creative destruction?

Accepted Answer

Development of a new product

Question 28

Pick one startup myths from the statement below (meaning it is untrue)

Accepted Answer

You require a detailed business plan for your startup company

Question 29

Which of the following is least likely to influence the timing of new business births?

Accepted Answer

Weather conditions.

Question 30

In the early stages of a start-up business, entrepreneurs assume sole responsibility for ..

Accepted Answer

All aspects of their businesses

Entrepreneurship Quiz

Questions 30

Entrepreneurship Quiz

Questions 30