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Business Management and Entrepreneurship Warm-Up 11/13/24

Quiz by Nekeisha King-Price

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10 questions
Show answers
  • Q1
    What is an essential quality of a successful entrepreneur?
    Inflexibility
    Procrastination
    Complacency
    Resilience
    30s
  • Q2
    Which of the following is a common source of funding for new businesses?
    Customer service
    Fixed assets
    Supplier discounts
    Venture capital
    30s
  • Q3
    What does SWOT stand for in business analysis?
    Structure, Workforce, Outlook, Technology
    Sales, Wages, Operations, Trends
    Strengths, Weaknesses, Opportunities, Threats
    System, Workflow, Organization, Timing
    30s
  • Q4
    What is the primary purpose of a business plan?
    To set employee salaries
    To outline a strategy for achieving business objectives
    To determine tax obligations
    To choose office decor
    30s
  • Q5
    Which marketing strategy focuses on building a relationship with customers?
    Push marketing
    Sample marketing
    Mass marketing
    Relationship marketing
    30s
  • Q6
    What is the term for a market structure characterized by a few large firms dominating the market?
    Monopolistic competition
    Perfect competition
    Monopoly
    Oligopoly
    30s
  • Q7
    What is the primary goal of market research?
    To hire new employees
    To set prices for products
    To design a company logo
    To understand consumer needs and preferences
    30s
  • Q8
    What is the term for a small business owned and operated by a single individual?
    Sole proprietorship
    Corporation
    Partnership
    Franchise
    30s
  • Q9
    What is the term for the unique qualities or features that make a product stand out from its competitors?
    Customer segmentation
    Unique Selling Proposition (USP)
    Brand loyalty
    Market share
    30s
  • Q10
    What is the concept of 'entrepreneurship' primarily focused on?
    Working for a large corporation
    Selling products online
    Creating and managing a new business
    Managing finances for an existing business
    30s

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