Entrepreneurship — Unit test Answers
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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 business2
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goalproblemloss
A
goalB
problemC
loss3
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.4
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.5
An entrepreneur is someone who
A
starts and runs a business.B
is an employee of a business.C
invents products for other businesses.D
works for multiple developing businesses.6
What led to Henry Ford’s success as an entrepreneur?
A
His personal wealth.B
His innovative production methods.C
His commitment to improving labor laws.D
His desire to pay high wages.7
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.8
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 2009.9
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 competition10
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 responsibilityDid you find these answers helpful?
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