Entrepreneurship Answers
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What is one purpose of writing a business plan before entering the market?
A
to prove that the new company will be successfulB
to show that the enterprise is realistically basedC
to have a useful tool when applying for fundingD
to differentiate the new company from the competition2
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An entrepreneur’s first business fails, but their second attempt at the business is succeeding. You can assume that
A
they learned from their mistakes.B
they are willing to take fewer risks.C
their products or services were unneeded.D
they were unwilling to take financial responsibility.3
Read the graph.
A
Fewer new businesses were started in 2010 than in other years.B
The opening of new businesses peaked between 2007 and 2008.C
More new businesses were started in 2006 than in 2005.D
The number of new businesses remained constant between 2006 and 2009.4
What is a main reason why entrepreneurs experience daily stress?
A
They have considerable responsibility.B
They need to spend time training employees.C
They need to have sufficient income to pay loans.D
They have to contribute both to the market and society.5
What must an entrepreneur do after creating a business plan?
A
open the businessB
finance the businessC
file the right paperworkD
identify an opportunity6
Which characteristic of being an entrepreneur could be seen as both a benefit and a drawback?
A
job security.B
personal fulfillment.C
financial risk.D
a flexible working environment.7
An entrepreneur must accept being accountable for the failure of the company because the entrepreneur is
A
part of the management team.B
responsible for organizing the business.C
expected to contribute positively to society.D
expected to dedicate the most hours to the business.8
How are Bill Gates and Henry Ford similar? Check all that apply.
A
They both streamlined factory production.B
They both became wealthy and successful.C
They both helped better the lifestyles of others.D
They both developed products that filled a human need or needs.E
They both founded a company when they were very young.Did you find these answers helpful?
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