Entrepreneurship — Unit test Answers

How does a high unemployment rate affect the economy?

Look at the graph examining the market for graphic T-shirts.

What was the main effect of entrepreneurship in China?

In a mixed market economy, property owned by the government

Read the graph.

A new business should be based on an entrepreneur's individual interests because the entrepreneur must

The amount of goods and services consumers want is called the

A person studying economics chooses to buy an economic textbook for their class, even though it means they cannot afford to buy a video game they want. This shows an understanding of

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This graph shows the changing unemployment rate in the United States.Based on this graph, what can be concluded about the economy between 1991 and 2008?

Which activity would a consumer most likely perform?

An entrepreneur’s first business fails, but their second attempt at the business is succeeding. You can assume that

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Which characteristic of being an entrepreneur could be seen as both a benefit and a drawback?

An entrepreneur must accept being accountable for the failure of the company because the entrepreneur is

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According to the law of demand, price and quantity move

The total amount of a product available in a market at a given price is called the

What must an entrepreneur assume when starting a business?

What is the fundamental problem producers and consumers face?