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Entrepreneurs Quiz 16 (30 MCQs)

Quiz Instructions

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1. They have a great picture in mind on what kind of future they want and have a great vision for their business. They already have predictions of possible outcomes.
2. Entrepreneurs look for challenging opportunities and are not afraid of the possibility of failure.
3. The amount of money that an entrepreneur earns when total costs are subtracted from total sales is called .....
4. This is any form of communication the entrepreneur uses to inform, persuade, or remind consumers about its products or services.
5. A business owned by one person.
6. Sam Walton's business was sucessful because he..
7. The most complex business structure.
8. These useful and inexpensive items with the business's name imprinted on them, such as bottle openers, calendars, magnets, pens and pencils, memo pads, and key chains are known as:
9. What are the characteristics of an entrepreneur?
10. It is a personality factor which means convincing customers to buy the product.
11. While managers help to make entrepreneurs' visions a reality, they are NOT required to
12. The difference between the revenue taken in by a business and the costs of operating the business is called:
13. Which of the following entrepreneurs are those motivated to take up venture by the desire for self fulfillment?
14. Characteristics of successful Entrepreneurs
15. The talent to analyze complex situations, and draw conclusions that will make the business succeed.
16. The things that you think you must have in order to be satisfied are called:
17. When making a business decision between several options, what are you determining when you estimate the opportunity cost?
18. When people's needs and wants are unlimited and the resources to produce the goods and services to meet those needs are limited, this occurs:
19. Those who want to learn as much as possible so they do not depend on anyone.
20. Last night, you got a call that your warehouse had caught on fire. This is an example of
21. A national coffee chain is an example of what kind of business opportunity?
22. A market dominated by a small number of businesses that gain the majority of the total sales revenue is known as a(n):
23. What % of small businesses will fail in the first five years?
24. How do entrepreneurs develop their skills?
25. Who started Atari and Chuck E. Cheese?
26. Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs develop a plan of action and make decisions to help achieve that plan?
27. The first step in the entrepreneurial process ESSENTIALLY involves
28. These are acquired and developed by a person through constant and correct practice.
29. The way we train ourselves to meet certain goals.
30. One of the five realities of the entrepreneurs is .....
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