This quiz works best with JavaScript enabled. Home > Entrepreneurship > General > Entrepreneurs – Quiz 23 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Entrepreneurs Quiz 23 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... entrepreneur are those who are totally opposed to changes unfolding in the environment A) Technical. B) Pure. C) Drone. D) Fabian. Show Answer Correct Answer: C) Drone. 2. What is a market? A) Where you get your groceries. B) Where individuals buy things. C) A place where suppliers of and those who demand a certain product can make exchanges. D) Where individuals/companies supply products. Show Answer Correct Answer: C) A place where suppliers of and those who demand a certain product can make exchanges. 3. Before starting their business ventures, which of the following would entrepreneurs recognize first: A) Regulations. B) Opportunity. C) Associations. D) Liability. Show Answer Correct Answer: B) Opportunity. 4. Why do people want to become entrepreneurs? A) Make a guaranteed amount of money. B) To be their own boss and make decsions. C) To work longer hours. D) To show off how talented they are. Show Answer Correct Answer: B) To be their own boss and make decsions. 5. Choose the statement that is NOT suitable to the entrepreneurship concept ..... A) Entrepreneur always think of profit. B) Entrepreneur distributes item. C) Entrepreneur tries to develop the business. D) Entrepreneur is the efficient in doing is doing his job. Show Answer Correct Answer: A) Entrepreneur always think of profit. 6. Placing the right product in the right hands at the right time and providing information or samples to influential individuals. A) Product seeding. B) Social media marketing. C) Viral marketing. D) Guerrilla marketing. Show Answer Correct Answer: A) Product seeding. 7. Colonel Sander's secret chicken recipe was rejected how many times before it was accepted by a restaurant? A) 9. B) 209. C) 509. D) 1009. Show Answer Correct Answer: D) 1009. 8. Pick odd one out A) Business. B) Trading. C) Industrial. D) Interview. Show Answer Correct Answer: D) Interview. 9. How many steps are there in the entrepreneurial discovery process? A) 4. B) 5. C) 6. D) 7. Show Answer Correct Answer: A) 4. 10. A local economy is best described as A) The flow of goods and services within a community. B) The flow of goods and services in international trade. C) An economic system based on foreign exchange rates. D) An economic system dominated by non-profit organizations. Show Answer Correct Answer: A) The flow of goods and services within a community. 11. One of the defining traits of entrepreneurship is the ability to spot an opportunity and imagine something where others haven't. What is the name of this critical attribute? A) Innovation. B) Vision. C) Creativity. D) View. Show Answer Correct Answer: B) Vision. 12. A basic understanding of how the economy works and fundamental concepts of finance, marketing, and management. A) Math Skills. B) Technical Skills. C) Basic Business Skills. D) Communication Skills. Show Answer Correct Answer: C) Basic Business Skills. 13. Importing and exporting are activities primarily associated with A) Nonprofit organizations. B) The profit motives. C) The economics of one unit. D) The global economy. Show Answer Correct Answer: D) The global economy. 14. They have a great picture in mind on what kind of future they want and have a great vision for their business. They already have predictions of possible outcomes. A) Visionary. B) Goal-oriented. C) Success-oriented. D) Undivided focus. Show Answer Correct Answer: A) Visionary. 15. Entrepreneurs look for challenging opportunities and are not afraid of the possibility of failure. A) Risk Taker. B) Goal Oriented. C) Creative. D) Responsible. Show Answer Correct Answer: A) Risk Taker. 16. The amount of money that an entrepreneur earns when total costs are subtracted from total sales is called ..... A) Profit. B) Salary. C) . Sales force. D) Contribution margin. Show Answer Correct Answer: A) Profit. 17. This is any form of communication the entrepreneur uses to inform, persuade, or remind consumers about its products or services. A) Advertising. B) Promotion. C) Personal Selling. D) Communication. Show Answer Correct Answer: B) Promotion. 18. A business owned by one person. A) Corporation. B) Franchise. C) Partnership. D) Sole Proprietorship. Show Answer Correct Answer: D) Sole Proprietorship. 19. Sam Walton's business was sucessful because he.. A) Left his employees alone to do what they wanted. B) Sold groceries at high prices. C) Valued his employees. D) Maded his employees work for little pay. Show Answer Correct Answer: C) Valued his employees. 20. The most complex business structure. A) Sole Proprietorship. B) Partnership. C) Corporation. D) Limited Liability Corporation. Show Answer Correct Answer: C) Corporation. ← PreviousNext →Related QuizzesEntrepreneurship QuizzesEntrepreneurs Quiz 1Entrepreneurs Quiz 2Entrepreneurs Quiz 3Entrepreneurs Quiz 4Entrepreneurs Quiz 5Entrepreneurs Quiz 6Entrepreneurs Quiz 7Entrepreneurs Quiz 8Entrepreneurs Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books