This quiz works best with JavaScript enabled. Home > Economics > Entrepreneurship > General > Entrepreneurs – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Entrepreneurs Quiz 3 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. How many billionaires are there in the world? A) 1592. B) 3019. C) 2208. D) 2056. Show Answer Correct Answer: C) 2208. 2. A self-assessment is an evaluation of your A) Hobbies and interests. B) Strengths and weaknesses. C) Past job experience. D) Ability to act quickly. Show Answer Correct Answer: B) Strengths and weaknesses. 3. What percentage of new businesses fail in the first two years? A) 30%. B) 40%. C) 35%. D) 25%. Show Answer Correct Answer: A) 30%. 4. An ..... is directlyaffected by theconsequences of adecision. A) Enthusiastic. B) Employee. C) Self-confident. D) Entrepreneur. Show Answer Correct Answer: D) Entrepreneur. 5. Upon achieving theirgoals, a ..... entrepreneur will lookfor new challenges. A) Risk-taking. B) Goal-oriented. C) Action-oriented. D) Restless. Show Answer Correct Answer: D) Restless. 6. Business entity with two or more owners that share the company's profits and losses. A) Partnership. B) Limited liability company. C) Proprietorship. D) Corporation. Show Answer Correct Answer: A) Partnership. 7. What are the four P's of marketing A) Promotion, product, practice, price. B) Product, produce, production, price. C) Person, place, produce, practice. D) Promotion, place, price, product. Show Answer Correct Answer: D) Promotion, place, price, product. 8. Which of the following probably does NOT describe Bill Gates? A) Creative. B) Independent. C) Someone who seeks approval. D) A risk-taker. Show Answer Correct Answer: C) Someone who seeks approval. 9. It is a proactive process of developing a business venture to make a profit. A) Entrepreneurship as a self-employment decision. B) Entrepreneurship. C) Entrepreneur. D) None of above. Show Answer Correct Answer: B) Entrepreneurship. 10. Which type of business provides a product that is intangible? A) Service. B) Retailer. C) Wholesaler. D) Manufacturer. Show Answer Correct Answer: A) Service. 11. A risk of any business is that someone else might steal your ..... ..... (Your ideas) A) Intellectual property. B) Personal details. C) Emails. D) Financial details. Show Answer Correct Answer: A) Intellectual property. 12. Who is this famous entrepreneur? A) Mark Zuckerberg. B) Lord Sugar. C) Steve Jobs. D) Richard Branson. Show Answer Correct Answer: A) Mark Zuckerberg. 13. The readiness to sacrifice your own security, in order to accomplish your goals. A) Ability to make decisions. B) Self-Discipline. C) Willingness to take risk. D) Businesslike Attitude. Show Answer Correct Answer: C) Willingness to take risk. 14. An entrepreneur is accountable for his/her actions and does what is required. A) Goal-Oriented. B) Independent. C) Inquisitive. D) Responsible. Show Answer Correct Answer: D) Responsible. 15. Losing money, facing an irregularincome, and workinglong hours are allchallenges of being an ..... A) Inquisitive. B) Persistent. C) Self-confident. D) Entrepreneur. Show Answer Correct Answer: D) Entrepreneur. 16. Which of the following is a way that entrepreneurship helps our society: A) Decreases economic growth. B) Eliminates financial concerns. C) Creates new jobs. D) Reduces taxes. Show Answer Correct Answer: C) Creates new jobs. 17. Which of the following is a service business? A) Cmart. B) Vimal Automotive. C) McDonalds. D) None of above. Show Answer Correct Answer: B) Vimal Automotive. 18. The term entrepreneur originates from the French word "entreprendre" which means- A) To undertake. B) To take. C) To earn. D) To invest. Show Answer Correct Answer: A) To undertake. 19. Entrepreneur means: A) Risk taker. B) To undertake. C) To research. D) To improve standard of living. Show Answer Correct Answer: B) To undertake. 20. Who started Ben & Jerry's? A) Ben Cohen & Jerry Glenburg. B) Ben Cohen & Jerry Greenwald. C) Ben Cohen & Jerry Seinfeld. D) Ben Cohen & Jerry Greenfield. Show Answer Correct Answer: D) Ben Cohen & Jerry Greenfield. 21. Who is an Entrepreneur? A) 4. A person who teaches business at college. B) 1. A person who works for someone. C) 2. A person who purposefully works to create or run a business to achieve an objective. D) 3. A person who a buys a successful business. Show Answer Correct Answer: C) 2. A person who purposefully works to create or run a business to achieve an objective. 22. This is a type of entrepreneurship that allows a person the right to sell another company's product or service for profit in a certain area. A) Business Plan. B) Profit. C) Merger. D) Franchise. Show Answer Correct Answer: D) Franchise. 23. This is an excellent way for the entrepreneur to find customers. Business representatives attending these are usually the decision-makers for the businesses they represent. A) Trade Show. B) Stockholder's Meeting. C) Industrial Conference. D) Christmas Party. Show Answer Correct Answer: A) Trade Show. 24. In the early stages of a start-up business, entrepreneurs assume sole responsibility for A) Global economic growth rates. B) All aspects of their businesses. C) The daily activities of competitors. D) Reducing the need for financial records products. Show Answer Correct Answer: B) All aspects of their businesses. 25. Who founded Barbie? A) Ruth Handler. B) Oprah Winfrey. C) Martha Stewart. D) Joyce Hall. Show Answer Correct Answer: A) Ruth Handler. 26. To combine ideas with others to produce or create something A) Produce. B) Work alone. C) Create. D) Collaborate. Show Answer Correct Answer: D) Collaborate. 27. The rate at which a company spends cash to cover overhead costs without generating a positive cash flow A) Cash flow rate. B) Burn rate. C) Liabilities. D) Cash rate. Show Answer Correct Answer: B) Burn rate. 28. The ..... is the part of thebusiness plan thatdiscusses the productionand delivery of theproduct or service. A) Dog. B) Operational Plan. C) Boat. D) Person. Show Answer Correct Answer: B) Operational Plan. 29. Aptitude is the ability to A) Act quickly. B) Evaluate interests. C) Learn a particular kind of job. D) All of these. Show Answer Correct Answer: C) Learn a particular kind of job. 30. Entrepreneurs want to make their own decisions. They set their own schedules and are able to work without supervision. A) Persistent. B) Independent. C) Self-Confident. D) Risk-Takers. Show Answer Correct Answer: B) Independent. ← PreviousNext →Related QuizzesEntrepreneurship QuizzesEconomics QuizzesEntrepreneurs Quiz 1Entrepreneurs Quiz 2Entrepreneurs Quiz 4Entrepreneurs Quiz 5Entrepreneurs Quiz 6Entrepreneurs Quiz 7Entrepreneurs Quiz 8Entrepreneurs Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books