This quiz works best with JavaScript enabled. Home > Economics > Entrepreneurship > General > Entrepreneurs – Quiz 19 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Entrepreneurs Quiz 19 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The POLICITCAL factor that impacts entrepreneurship can include all of the following except: A) Laws. B) Education. C) Elected officials. D) Tarriffs. Show Answer Correct Answer: B) Education. 2. Refers to cash flow that varies according to the time of year A) Cyclical. B) Profit. C) Cash flow. D) Fiscal year. Show Answer Correct Answer: A) Cyclical. 3. Starting and owning a person's own business A) Partnership. B) Corporation. C) Entrepreneurship. D) Sole proprietorship. Show Answer Correct Answer: C) Entrepreneurship. 4. The economics of one unit is a calculation of A) The equilibrium quantity on a supply curve. B) How many items an entrepreneur has for sale. C) The profit or loss associated with a unit of sale. D) Foreign demand for an entrepreneur's product. Show Answer Correct Answer: C) The profit or loss associated with a unit of sale. 5. Environmental protection and the shift towards healthier lifestyles are examples of A) Obstacles. B) Problems. C) Solutions. D) Trends. Show Answer Correct Answer: D) Trends. 6. The individual who started McDonald's. A) Steve Jobs. B) Dave Thomas. C) Bill Gates. D) Ray Kroc. Show Answer Correct Answer: D) Ray Kroc. 7. Mark Zuckerberg was 22 years old when he created A) Google. B) Myspace. C) Pandora. D) Facebook. Show Answer Correct Answer: D) Facebook. 8. Who founded The Body Shop? A) Kate Beckinsdale. B) Karen Brady. C) Anita Roddick. D) Beyonce. Show Answer Correct Answer: C) Anita Roddick. 9. French designer and costume maker, instrumental in defining feminine style and dress during the 20th Century. A) Coco Chanel. B) Giorgio Armani. C) Linda Evangelista. D) Gianni Versace. Show Answer Correct Answer: A) Coco Chanel. 10. Which of the following is NOT a core characteristic of most entrepreneurs? A) Confident. B) Risk-taker. C) Selfish. D) Independent. Show Answer Correct Answer: C) Selfish. 11. Which of the following challenges poses a business risk to entrepreneurs who want to conduct international trade? A) Tariffs that must be paid to import goods. B) Cultural differences between nations. C) Trade barriers. D) All of the above. Show Answer Correct Answer: D) All of the above. 12. Who founded Hershey? A) Maxwell Hershey. B) Milton Hershey. C) Milford Hershey. D) Millicent Hershey. Show Answer Correct Answer: B) Milton Hershey. 13. Business entity that blends elements of partnership and corporate structures. A) Partnership. B) Limited liability company. C) Corporation. D) Proprietorship. Show Answer Correct Answer: B) Limited liability company. 14. Presenting yourself well in the way you dress, communicate, and represent your business is known as: A) Work ethic. B) Negotiating. C) Encouraging. D) Professionalism. Show Answer Correct Answer: D) Professionalism. 15. What is the LAST step to be taken by an entrepreneur in selecting a business opportunity? A) Preparing a business plan. B) Screening of business opportunity. C) Evaluating self and the community. D) Identifying the needs and wants of customers. Show Answer Correct Answer: B) Screening of business opportunity. 16. Entrepreneurs often start their business while working for another company, this allows them: A) Spread themselves too thin. B) To increase their income. C) Focus 100% on their new venture. D) To practice community service. Show Answer Correct Answer: B) To increase their income. 17. Basic knowledge of record keeping and the ability to make profit and other calculations. A) Problem Solving Skills. B) Math Skills. C) Communication Skills. D) Human Relations Skills. Show Answer Correct Answer: B) Math Skills. 18. In the innovation stage of the entrepreneurial process, what happens? A) Create a plan. B) Take a small business to big(ger). C) Discover opportunities. D) Building and managing. Show Answer Correct Answer: C) Discover opportunities. 19. According to the textbook, entrepreneurs are ..... A) Minimal risk takers. B) Moderate risk takers. C) Gamblers. D) Aggressive risk takers. Show Answer Correct Answer: B) Moderate risk takers. 20. What is left after the business pays for everything it uses to provide goods and services. A) Capital. B) Cash. C) Profit. D) Resource. Show Answer Correct Answer: C) Profit. 21. Which trait does this refer to? "Entrepreneurs are ..... They create new goods and services by combining resources in new ways." A) Innovators. B) Creative. C) Passionate. D) Visionaries. Show Answer Correct Answer: A) Innovators. 22. How do Entrepreneurs help the economy? A) Creates the ability to buy anything. B) Puts you higher on the "money scale" for businesses. C) Adds jobs to economy. D) None of above. Show Answer Correct Answer: C) Adds jobs to economy. 23. Which of the choices is NOT part of the environmental factors? A) Climate. B) Weather condition. C) Political. D) Family background of the manager. Show Answer Correct Answer: D) Family background of the manager. 24. What does the owner of a miniature golf business provide her customers with? a) b) c) A) A good. B) An exchange. C) A service. D) A promotion. Show Answer Correct Answer: C) A service. 25. The potential for profit offsets the ..... ? A) Cost. B) Labor. C) Stress. D) Risk of failure. Show Answer Correct Answer: D) Risk of failure. 26. Technological advancements have made it possible for some entrepreneurs to A) Run their businesses with no resources. B) Eliminate the need to pay taxes. C) Operate their businesses entirely from their computers. D) Reduce the need for financial records. Show Answer Correct Answer: C) Operate their businesses entirely from their computers. 27. This is any form of communication a business or organization uses to inform, persuade, or remind consumers about its products or services. A) Price. B) Place. C) Promotion. D) Product. Show Answer Correct Answer: C) Promotion. 28. Who can develop entrepreneurial traits? Where do successful entrepreneurs generally come from? A) Only experienced small business owners. B) Just presidents and/or chief executive officers of successful corporations. C) College graduates. D) You. Show Answer Correct Answer: D) You. 29. The ..... section of the business plan should be written last. A) Financial statements. B) Executive summary. C) Appendices. D) None of above. Show Answer Correct Answer: B) Executive summary. 30. Who started Puma & Adidas? A) Adolf Dassler. B) Adolf Dellons. C) Adolf Damschlein. D) Adolf Dissinger. Show Answer Correct Answer: A) Adolf Dassler. ← 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