This quiz works best with JavaScript enabled. Home > Economics > Entrepreneurship > General > Entrepreneurs – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Entrepreneurs Quiz 7 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... takes up production, operation and pursues marketing activities A) Trading entrepreneur. B) Business entrepreneur. C) Industrial entrepreneur. D) Agricultural entrepreneur. Show Answer Correct Answer: B) Business entrepreneur. 2. A person goes on the same amusement park ride five times in a row. Which ride do you think produced the highest marginal benefit for the person? A) The first ride. B) The third ride. C) The fifth ride. D) None of the rides. Show Answer Correct Answer: A) The first ride. 3. Who started Wendys? A) Dave Andrews. B) Dave Gates. C) Dave Miller. D) Dave Thomas. Show Answer Correct Answer: D) Dave Thomas. 4. Export means ..... A) Bringing a product into a country to be sold. B) Sending a product to another country for sale. C) To get more goods to be able to make more money. D) To get rid of the goods you don't need. Show Answer Correct Answer: B) Sending a product to another country for sale. 5. Which of the statements below is true? A) Entrepreneurs are prone to constant high income. B) Entrepreneurs are contributor to the development of the society. C) Entrepreneur has limited career opportunities. D) Entrepreneurs are the reasons for unemployment problem. Show Answer Correct Answer: B) Entrepreneurs are contributor to the development of the society. 6. Which of the following are methods of online marketing communication? I. Direct email marketingII. Online cataloguesIII.Public relations A) I only. B) II and III. C) I and II. D) I, II and III. Show Answer Correct Answer: C) I and II. 7. This is an American computer scientist and internet entrepreneur. Together with Larry page, he co-founded Google. A) Steve Jobs. B) Elon Musk. C) Mark Zuckerberg. D) None of above. Show Answer Correct Answer: A) Steve Jobs. 8. Keeping your promises; being on time and prepared for meetings and appointments A) Empathetic. B) Keeping it real. C) Dependability. D) Professionalism. Show Answer Correct Answer: D) Professionalism. 9. Entrepreneurs are determined to break through any obstacle. Their spirit is something one cannot easily dampen, for they are often in battle mode when they want to get things done. A) Passionate. B) Goal-oriented. C) Harworking. D) Success-oriented. Show Answer Correct Answer: A) Passionate. 10. "Tenacity is No. 1, " says Mike Colwell, who runs Plains Angels. "So much of entrepreneurship is dealing with repeated failure. It happens many times each week. "What is "tenacity" ? A) Nothing ever goes my way. B) It's toooooo difficult. C) Let someone else do it. D) I know i can. Show Answer Correct Answer: D) I know i can. 11. Owners of stock in a company A) Sole proprietorship. B) Corporation. C) Partnership. D) Stockholders. Show Answer Correct Answer: D) Stockholders. 12. Which characteristic is not reflective of a successful entrepreneur? A) Persistence. B) Self-conscious. C) Creative. D) Passion. Show Answer Correct Answer: B) Self-conscious. 13. Which of the following is not a characteristic of entrepreneurs? A) Independent. B) Responsible. C) Dependent. D) Creative. Show Answer Correct Answer: C) Dependent. 14. An entrepreneur must know ..... A) Only the parts of the business they like. B) No parts of the business management. C) All parts of business:finance, marketing, etc. D) None of above. Show Answer Correct Answer: C) All parts of business:finance, marketing, etc. 15. Communication Skills A) The ability to come up with clever and workable solutions. B) The ability to express yourself and to understand others so that ideas can be shared. C) The desire to be your own boss. D) The way we train ourselves to meet certain goals. Show Answer Correct Answer: B) The ability to express yourself and to understand others so that ideas can be shared. 16. Which of the following is a problem a nation might attempt to solve through its economic systems? A) Limited supply of goods and services. B) Democracy. C) Entrepreneur's profit motive. D) All of the above. Show Answer Correct Answer: A) Limited supply of goods and services. 17. What is a document that is used to help guide an entrepreneur in organizing and running a business. A) Business Profit Report. B) Business To-Do list. C) Business Outline. D) Business Plan. Show Answer Correct Answer: D) Business Plan. 18. The following are the sources of business idea, except ..... A) Money. B) Hobby. C) *results of creativity and innovation. D) Skill. Show Answer Correct Answer: A) Money. 19. What is the most common reason given for why people choose to become entrepreneurs? A) To make a lot of money. B) To be able to retire early. C) To be their own boss. D) To escape the long hours associated with corporate jobs. Show Answer Correct Answer: C) To be their own boss. 20. This entrepreneur is a an American business magnate, investor, and philanthropist who is a co-founder, the executive chairman and chief technology officer of Oracle Corporation A) Mark Zuckerberg. B) Jeff Bezos. C) Larry Ellison. D) None of above. Show Answer Correct Answer: C) Larry Ellison. 21. Space allowed between two or more people A) Personal Space. B) Business space. C) Optional space. D) Appropriate Space. Show Answer Correct Answer: A) Personal Space. 22. What did Shubham Banerjee develop? A) The Roomba. B) The first laptop computer. C) The Ipad. D) A low-cost Braille printer. Show Answer Correct Answer: D) A low-cost Braille printer. 23. Entrepreneurs are born to win. They always have a ..... and are determined to surpass challenges and obstacle that come their way. A) Winning Attitude. B) Visionary. C) Xtremely smart. D) Zealously energetic. Show Answer Correct Answer: A) Winning Attitude. 24. A good entrepreneur will A) Be willing to sell their soul for success. B) Put on a great show. C) Find a new or unusual way of doing business. D) Change the world. Show Answer Correct Answer: C) Find a new or unusual way of doing business. 25. What is a benefit of starting a new business from scratch? A) You are creating something that is uniquely your own. B) The business will make profits quickly. C) The business will have name and brand recognition. D) Your start-up costs will be small. Show Answer Correct Answer: A) You are creating something that is uniquely your own. 26. Successful entrepreneurs enjoy their work and often start their businesses so that they can share theirinterests and enthusiasm with others. In other words, successful entrepreneurs have ..... what they do. A) Concerns about. B) Reservations about. C) Apathy for. D) Passion for. Show Answer Correct Answer: D) Passion for. 27. In this kind of economy the government determines what, how and for whom products and services are produced: A) Market economy. B) Traditional economy. C) Command economy. D) Laissez-faire economy. Show Answer Correct Answer: C) Command economy. 28. Which of the following is NOT a trait of successful entrepreneurs? A) Strong sense of self. B) Passion. C) Resilience. D) Procrastination. Show Answer Correct Answer: D) Procrastination. 29. This displays the roles, responsibilities and answers the question, "Who reports to whom?" A) Price Comparison. B) Pricing. C) Startup Costs. D) Organizational Structure. Show Answer Correct Answer: D) Organizational Structure. 30. A fiscal year is A) Any 6 month period. B) A quarter. C) January-December. D) Any 12 month period. Show Answer Correct Answer: D) Any 12 month period. ← PreviousNext →Related QuizzesEntrepreneurship QuizzesEconomics QuizzesEntrepreneurs Quiz 1Entrepreneurs Quiz 2Entrepreneurs Quiz 3Entrepreneurs Quiz 4Entrepreneurs Quiz 5Entrepreneurs Quiz 6Entrepreneurs Quiz 8Entrepreneurs Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books