This quiz works best with JavaScript enabled. Home > Entrepreneurship > General > Entrepreneurs – Quiz 29 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Entrepreneurs Quiz 29 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Entrepreneurs often start their business while working for another company, this allows them: A) To increase their income. B) To practice community service. C) Spread themselves too thin. D) Focus 100% on their new venture. Show Answer Correct Answer: A) To increase their income. 2. Basic knowledge of record keeping and the ability to make profit and other calculations. A) Communication Skills. B) Math Skills. C) Human Relations Skills. D) Problem Solving Skills. Show Answer Correct Answer: B) Math Skills. 3. In the innovation stage of the entrepreneurial process, what happens? A) Create a plan. B) Take a small business to big(ger). C) Discover opportunities. D) Building and managing. Show Answer Correct Answer: C) Discover opportunities. 4. According to the textbook, entrepreneurs are ..... A) Gamblers. B) Moderate risk takers. C) Aggressive risk takers. D) Minimal risk takers. Show Answer Correct Answer: B) Moderate risk takers. 5. What is left after the business pays for everything it uses to provide goods and services. A) Cash. B) Capital. C) Profit. D) Resource. Show Answer Correct Answer: C) Profit. 6. Which trait does this refer to? "Entrepreneurs are ..... They create new goods and services by combining resources in new ways." A) Passionate. B) Creative. C) Visionaries. D) Innovators. Show Answer Correct Answer: D) Innovators. 7. How do Entrepreneurs help the economy? A) Creates the ability to buy anything. B) Puts you higher on the "money scale" for businesses. C) Adds jobs to economy. D) None of above. Show Answer Correct Answer: C) Adds jobs to economy. 8. Which of the choices is NOT part of the environmental factors? A) Political. B) Weather condition. C) Climate. D) Family background of the manager. Show Answer Correct Answer: D) Family background of the manager. 9. What does the owner of a miniature golf business provide her customers with? a) b) c) A) A service. B) A promotion. C) A good. D) An exchange. Show Answer Correct Answer: A) A service. 10. The potential for profit offsets the ..... ? A) Risk of failure. B) Labor. C) Stress. D) Cost. Show Answer Correct Answer: A) Risk of failure. 11. Technological advancements have made it possible for some entrepreneurs to A) Eliminate the need to pay taxes. B) Reduce the need for financial records. C) Run their businesses with no resources. D) Operate their businesses entirely from their computers. Show Answer Correct Answer: D) Operate their businesses entirely from their computers. 12. This is any form of communication a business or organization uses to inform, persuade, or remind consumers about its products or services. A) Product. B) Price. C) Place. D) Promotion. Show Answer Correct Answer: D) Promotion. 13. Who can develop entrepreneurial traits? Where do successful entrepreneurs generally come from? A) Only experienced small business owners. B) Just presidents and/or chief executive officers of successful corporations. C) College graduates. D) You. Show Answer Correct Answer: D) You. 14. The ..... section of the business plan should be written last. A) Financial statements. B) Executive summary. C) Appendices. D) None of above. Show Answer Correct Answer: B) Executive summary. 15. Who started Puma & Adidas? A) Adolf Damschlein. B) Adolf Dellons. C) Adolf Dassler. D) Adolf Dissinger. Show Answer Correct Answer: C) Adolf Dassler. 16. A ..... entrepreneur must know what they want for their business from the beginning, at present, and in the future A) Legitimate. B) Resourceful. C) Passionate. D) Goal-oriented. Show Answer Correct Answer: D) Goal-oriented. 17. One who takes advantage of the country's social problems and turn them to profitable institutions with the intention of helping the disadvantaged community rather than making a profit. A) Extrapreneur. B) Technopreneur. C) Intrapreneur. D) Social entrepreneur. Show Answer Correct Answer: D) Social entrepreneur. 18. SBA helps entrepreneurs by providing resources regarding business plans, loans, etc. SBA stands for A) Small Business Alliance. B) Smith Blackwell Association. C) Small Business Association. D) Small Brand Association. Show Answer Correct Answer: C) Small Business Association. 19. Of ..... fail in the first three years A) Coffee shops. B) Restaurants. C) Retail shops. D) Manufacturing plants. Show Answer Correct Answer: B) Restaurants. 20. A reward for running your own business is ..... A) Suppliers might not deliver the goods to when you need them. B) Machinery might break down. C) You could lose money. D) You can't get fired. Show Answer Correct Answer: D) You can't get fired. ← 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