This quiz works best with JavaScript enabled. Home > Economics > Entrepreneurship > General > Entrepreneurs – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Entrepreneurs Quiz 12 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A merchandise shipment of laptops were destroyed in transit. This is an example of a(n) A) Accident. B) Loss. C) Risk. D) Market. Show Answer Correct Answer: A) Accident. 2. The reward for enterprise is? A) Hard work. B) Profit. C) Self-discipline. D) Risk. Show Answer Correct Answer: B) Profit. 3. An entrepreneur never stops learning A) Creative and innovative. B) Organized and an organizer. C) Passionate. D) Yearning to learn. Show Answer Correct Answer: D) Yearning to learn. 4. Entrepreneurs often discover business start-up ideas by looking for gaps between what is currently being done and. A) What was done in the past. B) When changes were last made. C) What needs to be done. D) How things are being done. Show Answer Correct Answer: C) What needs to be done. 5. How much a product costs. A) Startup Costs. B) Pricing. C) Organizational Structure. D) Price Comparison. Show Answer Correct Answer: B) Pricing. 6. Profit is beneficial to entrepreneurs because A) Profit builds wealth and financial independence. B) Profit is the equilibrium quantity on a supply and demand curve. C) Profit is a barrier to international trade. D) Profit is the answer to one of the fundamental question of economics. Show Answer Correct Answer: A) Profit builds wealth and financial independence. 7. Any activity designed to create a favorable image of a business, its products, or its policies. A) Public relations. B) Public relationship. C) Relations. D) None of above. Show Answer Correct Answer: A) Public relations. 8. Which of the following entrepreneur starts his own venture as a family business? A) Agricultural entrepreneur. B) Classical entrepreneur. C) Fabian entrepreneur. D) Drone entrepreneur. Show Answer Correct Answer: B) Classical entrepreneur. 9. ..... is the process of creating something new, which is central to the entrepreneurial process. A) Execution. B) Innovation. C) Modernism. D) Creativity. Show Answer Correct Answer: B) Innovation. 10. Who is currently the richest entrepreneur in the world? A) Jeff Bezos. B) Warren Buffett. C) Bill Gates. D) Bernard Arnault. Show Answer Correct Answer: A) Jeff Bezos. 11. Entrepreneurs believe in themselves. A) Risk-Taker. B) Creative. C) Persistent. D) Self-Confident. Show Answer Correct Answer: D) Self-Confident. 12. You are running a business. During one month your total expenses are $ 5, 250 and your total revenues are $ 5, 750. Which statement best expresses how the business did? A) It was in the black. B) It was in the red. C) It was neutral. D) None of above. Show Answer Correct Answer: A) It was in the black. 13. The advantages of producing one additional unit of a good or service are measured by: A) Marginal benefit. B) Opportunity cost. C) Sunk cost. D) Equilibrium price. Show Answer Correct Answer: A) Marginal benefit. 14. Who started GEICO? A) Leo Goodwin. B) Leonard Goodwill. C) Leo Godwallow. D) Leonard Goodman. Show Answer Correct Answer: A) Leo Goodwin. 15. This entrepreneur is the founder, CEO, and president of Amazon A) Elon Musk. B) Mark Cuban. C) Jeff Bezos. D) None of above. Show Answer Correct Answer: C) Jeff Bezos. 16. The amount owed by a business to its suppliers for credit purchases is called A) Accounts receivable. B) Accounts payable. C) Merchandise payable. D) Purchases on account. Show Answer Correct Answer: B) Accounts payable. 17. The capacity for innovation, investment and expansion in new markets, products and techniques. A) Business. B) Businessman. C) Entrepreneurship. D) Entrepreneur. Show Answer Correct Answer: C) Entrepreneurship. 18. The person who has sole ownership of a business. A) Stock Holder. B) Chief Executive Officer. C) Proprietor. D) Senior Partner. Show Answer Correct Answer: C) Proprietor. 19. Ingvar Kamprad started what company when he was 17? A) Audi. B) Ikea. C) Chick Fil A. D) WaWa. Show Answer Correct Answer: B) Ikea. 20. The ..... part of the business planprovides a description ofthe product or serviceoffered. A) Product andService Plan. B) Dog. C) Person. D) Car. Show Answer Correct Answer: A) Product andService Plan. 21. DETERMINATION, BRAVERY AND COURAGE A) ENTREPRENEURIAL GUTS FRAME. B) ENTREPRENEURIAL HEART FRAME. C) ENTREPRENEURIAL MIND FRAME. D) None of above. Show Answer Correct Answer: A) ENTREPRENEURIAL GUTS FRAME. 22. Colonel Sander's secret chicken recipe was rejected how many times before it was accepted by a restaurant and formed KFC? A) 9. B) 1009. C) 509. D) 209. Show Answer Correct Answer: B) 1009. 23. Which of the following is an example of a written business inquiry: A) A memo outlining an upcoming meeting agenda. B) B. An e-mail requesting vendor pricing and discounts. C) C. A form describing an employee's performance review. D) D. A report summarizing annual financial information. Show Answer Correct Answer: B) B. An e-mail requesting vendor pricing and discounts. 24. A ..... is awritten document thatdescribes all of thesteps necessary to openand operate a successfulbusiness. A) Dumb. B) Business Plan. C) Person. D) Bored. Show Answer Correct Answer: B) Business Plan. 25. Projected financialinformation is containedin the ..... partof the business plan. A) Plan. B) Financial Plan. C) Dog. D) Person. Show Answer Correct Answer: B) Financial Plan. 26. Where the supply curve and the demand curve intersect. A) Equilibrium Point. B) Equilibrium Quantity. C) Supply. D) Equilibrium Price. Show Answer Correct Answer: A) Equilibrium Point. 27. A true entrepreneur doesn't ask questions about whether or not they'll succeed-they truly believe they will. A) Creative. B) Perseverance. C) RiskTAker. D) Hardworking. Show Answer Correct Answer: C) RiskTAker. 28. The most important characteristic of a successful business website is A) Products. B) Graphics. C) Speed. D) Innovation. Show Answer Correct Answer: C) Speed. 29. Example of financial support agencies for entrepreneur in Malaysia as follow, EXCEPT A) Bank Usahawan Malaysia. B) Majlis Amanah Rakyat (MARA). C) Commercial Bank. D) None of above. Show Answer Correct Answer: A) Bank Usahawan Malaysia. 30. Quality related to inquisitive thinking such as exploration, investigation, and learning, evident by observation in humans and other animals. A) PASSION. B) CREATIVE. C) CURIOSITY. D) COMMITMENT. Show Answer Correct Answer: C) CURIOSITY. ← PreviousNext →Related QuizzesEntrepreneurship QuizzesEconomics QuizzesEntrepreneurs Quiz 1Entrepreneurs Quiz 2Entrepreneurs Quiz 3Entrepreneurs Quiz 4Entrepreneurs Quiz 5Entrepreneurs Quiz 6Entrepreneurs Quiz 7Entrepreneurs Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books