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Entrepreneurs Quiz 15 (20 MCQs)

Quiz Instructions

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1. What does total revenue minus total expenses indicate?
2. They have endless curiosity to discover new or different ideas and see whether these ideas will work in the marketplace.
3. The process of recognizing an opportunity, testing the marked place, and gathering resources to start a business is:
4. Monitoring and controlling expenses/budgets are responsibilities of
5. These are all characteristics of a entrepreneur, except
6. Common reasons for entrepreneurial failure include all but which one of the following?
7. An individual's need or desire for a product or service at a given price is called:
8. Managers support problem solving and
9. Which type of business is typically traded on a stock exchange?
10. In a perfect competition, goods are
11. A business owned by people who purchase stock in the company. These businesses are granted a charter by the state in which they are formed.
12. This a process that requires hard work, perseverance, and the willingness to assume some degree of risk.
13. An individual who is in the process of starting a new venture for the first time is described as a:
14. Small businesses have a positive effect on the local community because they:
15. The US economic system is based on all of the following except
16. Current liabilities are
17. This trait means leaving everything to chance or "letting the circumstances take care of itself" .
18. This is someone who takes the initiative to start and operate a new business.
19. Entrepreneurs aim continuous improvement, thus turning something good into something better, and something better into something best in the market.
20. When private entrepreneurs purchase the rights to open and run a location of a larger company.
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