Measuring Economic Change

Question 1

Which phrase best describes the entrepreneurial quality of self-discipline?

Revolt · Accepted Answer

C: working regularly and steadily to improve the business

Question 2

Hakeem developed an idea for a phone app that matches local artists with businesses interested in purchasing artwork for their buildings and properties. Hakeem receives a small percentage from the profits of each local artist who completes a job found through the app.

Revolt · Accepted Answer

D: He earns money connecting consumers and producers in his community.

Question 3

In Ana Sofía’s neighborhood, a lot of people take public transportation to go their jobs very early in the morning. There are no places open early enough for people who want coffee and a snack as they head to work. For this reason, Ana Sofía started a business providing food-and-beverage trucks at bus stops around town. Her business has grown from three trucks to ten trucks over a period of only two years.

Revolt · Accepted Answer

D: supplying a service to meet consumer needs

Question 4

Mariana invented an exciting new device to help visually impaired people read. The cost of bringing this device to the marketplace was $200,000 in land (natural resources), $400,000 in capital (money, buildings, equipment), and $200,000 in labor (employees). In the company’s first year, Mariana sold $2 million worth of the devices.

Revolt · Accepted Answer

A: $800,000

Question 5

Which statement best explains the role of entrepreneurs in a market economy?

Revolt · Accepted Answer

D: They produce innovative goods to meet consumer needs and wants.

Question 6

Review the photo.Danica’s community experienced a strong storm that caused many people to lose electricity for several weeks. As a result, they were not able to keep food fresh in their refrigerators and freezers. Danica decided to collect donations so she could purchase fresh food from farmers in nearby areas and deliver it to the people in her community who needed it. Her entrepreneurship was featured on the local news, which brought in a lot more donations.

Revolt · Accepted Answer

B: addressing a social issue

Question 7

Which scenario best describes a social entrepreneur?

Revolt · Accepted Answer

C: Callie uses her business skills to help address poverty in her community.

Question 8

Read the quotation from Paul Allen, cofounder of Microsoft."In my experience, each failure contains the seeds of your next success—if you are willing to learn from it.”Which statement best explains how this quotation can be applied to entrepreneurship?

Revolt · Accepted Answer

D: Entrepreneurs face challenges that they figure out how to overcome.

Question 9

In 1975, Gary Dahl collected rocks from Mexico’s Rosarita Beach, packaged them with a "training manual,” and sold them as Pet Rocks. In the short time that his business existed, Dahl sold one million Pet Rocks at $4 each.What was Dahl’s most likely motivation for starting his business?

Revolt · Accepted Answer

C: making a financial profit

Question 10

Review the photograph.

Revolt · Accepted Answer

D: They want to earn money while serving their community.

Measuring Economic Change Answers

TRY EDGENUITY HACKS