This quiz works best with JavaScript enabled. Home > Economics > Entrepreneurship > General > Entrepreneurs – Quiz 17 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Entrepreneurs Quiz 17 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What might be a motivation to become an entrepreneur? A) Risk of financial ruin. B) Lack of responsibility. C) Be your own boss. D) Doing paperwork. Show Answer Correct Answer: C) Be your own boss. 2. Being capable of doing the work and enjoying it. A) Hard Work. B) Technical Ability. C) Creativity. D) Confidence. Show Answer Correct Answer: A) Hard Work. 3. How many ways does Georgia have to transport produced goods throughout the State? A) 4. B) 2. C) 1. D) 3. Show Answer Correct Answer: A) 4. 4. American entrepreneurs: A) Increase unemployment by taking the best jobs for themselves. B) Create products that change the way people live and conduct business. C) Have little impact on supply and demand. D) All of the above. Show Answer Correct Answer: B) Create products that change the way people live and conduct business. 5. They can have it in any color they want, as long as its black." This quote explains why this famous automobile company almost went out of business in the 1920's. A) General Motors. B) The John Deere Company. C) The Chrysler Corporation. D) The Ford Motor Company. Show Answer Correct Answer: D) The Ford Motor Company. 6. Entrepreneurs want to make their own decisions. They set their own schedule and can work without supervision. A) Goal Oriented. B) Self Confident. C) Persistent. D) Independent. Show Answer Correct Answer: D) Independent. 7. Computer skills necessary for business functions A) Creativity. B) Technical Skills. C) Human Relations Skills. D) Math Skills. Show Answer Correct Answer: B) Technical Skills. 8. ..... entrepreneurs are doersinstead of spectators.They take action. A) Action-oriented. B) Action-oriented. C) Restless. D) Goal-oriented. Show Answer Correct Answer: A) Action-oriented. 9. Which one of these is NOT part of the market research process? A) Conduct primary and secondary research. B) Start promoting the business to neighbors. C) Talk to your cousin that shops at local stores. D) Explore websites of similar businesses. Show Answer Correct Answer: B) Start promoting the business to neighbors. 10. Costs that must be paid regardless of how much of a good or service is produced are known as: A) Variable costs. B) Marginal costs. C) Fixed costs. D) None of the above. Show Answer Correct Answer: C) Fixed costs. 11. This is someone who is experienced, successful and willing to provide advice and guidance. A) President. B) CEO. C) Industrial Engineer. D) Mentor. Show Answer Correct Answer: D) Mentor. 12. Which of the following does NOT encourage entrepreneurship? A) Changing demographics. B) Information revolution. C) Technological advances. D) Government bureaucracy. Show Answer Correct Answer: D) Government bureaucracy. 13. Part A:Select the tone created by Jay Z in the following quote:"Rosa Parks sat so that Martin Luther King could walk. Martin Luther King walked so that Obama could run. Obama's running so we all can fly." A) Disheartened. B) Exhausted. C) Hopeful. D) Interested. Show Answer Correct Answer: C) Hopeful. 14. Business entity that is usually owned by multiple stockholders and operates as a separate legal entity. A) Limited liability company. B) Corporation. C) Partnership. D) Proprietorship. Show Answer Correct Answer: B) Corporation. 15. A public promotion of some product or service A) Website. B) Advertising. C) Branding. D) None of above. Show Answer Correct Answer: B) Advertising. 16. What is a disadvantage of entrepreneurship? A) Lower taxes. B) Fewer resources. C) Personal satisfaction. D) Uncertain income. Show Answer Correct Answer: D) Uncertain income. 17. Grouping 2 or more products together and pricing them as a unit. A) Bundling. B) Grouping. C) Branding. D) None of above. Show Answer Correct Answer: A) Bundling. 18. The cover page of a business plan should contain ..... A) Key financial highlights. B) Contact information. C) The funding request. D) None of above. Show Answer Correct Answer: B) Contact information. 19. The a legal document allowing the corporation to operate as if it were a person. A) Charter. B) Partnership Agreement. C) Licensing Agreement. D) None of above. Show Answer Correct Answer: A) Charter. 20. Who started Apple? A) Bill Gates. B) David Abney. C) Mark Zuckerberg. D) Steve Jobs. Show Answer Correct Answer: D) Steve Jobs. 21. If my business is successful in taking customers from another business, I have increased my A) Market Segment. B) Target Market. C) Suppliability. D) Market Share. Show Answer Correct Answer: D) Market Share. 22. Find the odd one out in context of trading entrepreneur A) Commission. B) Buying. C) Selling. D) Manufacturing. Show Answer Correct Answer: D) Manufacturing. 23. What does the word aviation correlate with? A) Airplanes. B) Interstates. C) Railroads. D) Deepwater ports. Show Answer Correct Answer: A) Airplanes. 24. The activity of presenting products or services to customers A) Selling. B) Producing. C) Marketing. D) None of above. Show Answer Correct Answer: C) Marketing. 25. Entrepreneurs are flexible and will refuse to give up despite obstacles, failures, and discouragement from others. This characteristic is known as: A) Creativity. B) Self-Confidence. C) Perseverance. D) Grit. Show Answer Correct Answer: C) Perseverance. 26. Researchers have determined that successful entrepreneurs A) Do not need to set goals. B) Do not always know what they want. C) Like to have someone else make decisions. D) Want to make their own decisions. Show Answer Correct Answer: D) Want to make their own decisions. 27. What is marginal cost? A) The change in the cost of producing one more unit of product. B) The cost of total overhead due to changes in production levels. C) The change in total production cost when the quantity produced changes by one unit. D) None of above. Show Answer Correct Answer: C) The change in total production cost when the quantity produced changes by one unit. 28. To show or explain in detail A) Describe. B) Demonstrate. C) Tell. D) Find. Show Answer Correct Answer: A) Describe. 29. This is a sales promotion activity that consists of a free trial size of a product sent through the mail, distributed door-to-door, or given away at retail stores and trade shows. A) Guerilla Marketing. B) Viral Marketing. C) Product Sample. D) Personal Selling. Show Answer Correct Answer: C) Product Sample. 30. An entrepreneur is a ....., he/she is willing to give up everything whether it's financial, strategy, time or etc. A) Adventurer. B) Leader. C) Gambler. D) Risk taker. Show Answer Correct Answer: D) Risk taker. ← 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