Economic 100 - 127 | Take the Quiz

An illustration of a diverse group of entrepreneurs brainstorming ideas in a modern office environment, with visual representations of business concepts such as charts, graphs, and innovative products.

Entrepreneurial Knowledge Quiz

Test your understanding of entrepreneurship and economic principles with this engaging quiz! Designed for aspiring entrepreneurs and seasoned professionals alike, this quiz evaluates your grasp of key concepts, from business planning to financing strategies.

Get ready to:

Explore fundamental entrepreneurial skills.
Enhance your knowledge of business structures.
Improve your strategic thinking in the world of entrepreneurship.

21 Questions5 MinutesCreated by InnovatingMind321

Bobby believes that what takes place within his new company is mostly the result of fate or factors that are outside of his control. It could be stated that Bobby possesses a/an ______.

The entrepreneur who is committed to the entrepreneurial effort because it makes good business sense is classed as a/an

Melissa is one of the newest and most successful entrepreneurs in the technology industry. She handles numerous dealings with other companies for the exchange of goods and services. Her primary goal is to ensure that all parties involved receive favorable and acceptable terms. Melissa is most probably excellent at the entrepreneurial skill of _______.

The steps involved in an entrepreneurial endeavor include all but which one of the following?

The ideas for new businesses that are obtained by entrepreneurs are derived from many sources. These various sources include all but _______.

Common reasons for entrepreneurial failure include all but which one of the following?

A/An ________ is defined as the blueprint describing the business strategy for entering the marketplace and explains the business to potential investors

Of the following, which one is not considered a key component of a business plan?

A(n) ________ is defined as a form of business that is an association of two or more people acting as co-owners of a business.

Which one of the following would not be considered a disadvantage of a corporation?

Limited continuality of life of enterprise

Extensive government regulations of activities

High incorporation fees

Corporate capital, profits, dividends, and salaries are double taxed

Activities limited to those stated in charter

Entrepreneurships require financial backing in order to get started in the business world. Which of the following is not one of the methods commonly utilized to obtain the financial resources needed?

_________ financing is raising money by selling part of the ownership of the business to investors.

Of the following, which one would not be considered an alternative to independent entrepreneurship?

Of the following, which is best identified as an independent entrepreneurship that produces a product or service that originated in a large company?

Of the following, which is best identified when a business with an established name and product is sold to additional owners along with the rights to distribute product?

______ is best described as doing something differently and has been described as discontinuous or complementary change.

In franchising, the entrepreneur assumes fewer risks because the franchise provides all but which one of the following?

Established market for the product

Management assistance in operating the business

Economies of scale for purchasing

Oversale of rights

Favorable image for the product

A/An ______ is best described by stating it is any business that is independently owned and operated and is not dominate in its market.

The 4 main elements of Diffusion are:

Innovation, Communication Channels, Social System, Observability

Initiation, Communication Channels, Social System, Observability

Innovation, Communication Channels, Social Systems, Time

Innovation, Community Involvement, Social Services, Thyme

The material wealth of a society is equal to the sum of _________.

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Economic 100 - 127

Entrepreneurial Knowledge Quiz

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