Entrepreneurs Quiz 17 (20 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. These people don't stop and watch unless they are learning and comparing

Correct Answer: A) Leaders.

2. The most likely reason an individual might turn a woodworking hobby into a business is because of

Correct Answer: B) Personal satisfaction.

3. Risk is

Correct Answer: D) Both an advantage and a disadvantage of entrepreneurship.

4. Entrepreneurs work until a job is done. They are determined to overcome problems.

Correct Answer: A) Persistent.

5. In times of ....., political instability and economic difficulty consumers tend to save not spend.

Correct Answer: A) Recession.

6. Which of the following countries has the biggest number of start up companies?

Correct Answer: A) USA.

7. What is the number 1 industry in Georgia?

Correct Answer: D) Agriculture.

8. This refers to the quantity of a product that producers are willing and able to produce at a given price.

Correct Answer: C) Supply.

9. Which characteristic of entrepreneurs states that they must be able to think, act and plan without a boss or team to lean on?

Correct Answer: C) Self-Confident.

10. Who founded Lego?

Correct Answer: A) Ole Kirch Christiansen.

11. A ..... entrepreneur will lookfor new ways to solve oldproblems.

Correct Answer: A) Creative.

12. The private ownership of resources by individuals rather than by the government is known as:

Correct Answer: C) Capitalism.

13. A merchandise shipment of laptops were destroyed in transit. This is an example of a(n)

Correct Answer: C) Accident.

14. The reward for enterprise is?

Correct Answer: A) Profit.

15. An entrepreneur never stops learning

Correct Answer: D) Yearning to learn.

16. Entrepreneurs often discover business start-up ideas by looking for gaps between what is currently being done and.

Correct Answer: D) What needs to be done.

17. How much a product costs.

Correct Answer: B) Pricing.

18. Profit is beneficial to entrepreneurs because

Correct Answer: A) Profit builds wealth and financial independence.

19. Any activity designed to create a favorable image of a business, its products, or its policies.

Correct Answer: A) Public relations.

20. Which of the following entrepreneur starts his own venture as a family business?

Correct Answer: D) Classical entrepreneur.