Entrepreneurship Answers
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An entrepreneur conducted many experiments in a project without success. What characteristic must this person have to succeed?
A
a dedication to hard workB
a willingness to admit failureC
an ability to learn from mistakesD
an assumption of responsibility2
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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.3
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.4
A new business should be based on an entrepreneur's individual interests because the entrepreneur must
A
have sufficient confidence to succeed.B
be willing to take personal responsibility.C
have enough determination to work alone.D
dedicate as many hours as needed to the work.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
Read the graph.
A
A company selling telephones most likely has only a 40 percent chance of surviving for at least four years.B
A company offering physical therapy most likely has only an 80 percent chance of surviving for at least two years.C
A company offering cleaning services most likely has only a 50 percent chance of surviving for at least eight years.D
A company selling diabetes supplies has only a 60 percent chance of surviving for at least three years.7
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.8
What must an entrepreneur assume when starting a business?
A
that the correct location guarantees successB
that every product has a customer who wants itC
that clever market strategies may still fail to sell a productD
that raising funds is the most difficult step in starting a business9
What was the main effect of entrepreneurship in China?
A
Poverty noticeably declined.B
Foreign investment declined.C
New products were invented.D
Product exports exceeded imports.10
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.Did you find these answers helpful?
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