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Entrepreneurship Final Exam Review

Quiz by NeKeisha King Price

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50 questions
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  • Q1
    What is the term for the process of starting a new business?
    Marketing
    Innovation
    Sustainability
    Entrepreneurship
    30s
  • Q2
    What is a business plan?
    A financial statement
    A road map for the future of a business
    A list of potential customers
    A marketing campaign
    30s
  • Q3
    Which of the following is a characteristic of successful entrepreneurs?
    Conformity
    Complacency
    Conservatism
    Risk-taking
    30s
  • Q4
    What is the term for an individual who organizes, manages, and takes on the risks of a business?
    Consumer
    Investor
    Entrepreneur
    Employee
    30s
  • Q5
    What is the term for the practice of developing and creating new ideas or solutions to problems?
    Tradition
    Innovation
    Stagnation
    Repetition
    30s
  • Q6
    What is market research in entrepreneurship?
    Creating a pricing strategy
    The process of manufacturing products
    Gathering and analyzing information about potential customers and competitors
    Promoting a business through advertising
    30s
  • Q7
    What is a business model in entrepreneurship?
    A location for a business
    A legal registration document
    A plan that outlines how a business will generate revenue and achieve profitability
    A list of potential business names
    30s
  • Q8
    What does the term 'bootstrapping' mean in entrepreneurship?
    Promoting a business through social media
    Acquiring a large amount of venture capital
    Expanding a business through franchising
    Building and growing a business with minimal external funding or resources
    30s
  • Q9
    What is a target market in entrepreneurship?
    The physical location of a business
    The amount of revenue a business aims to generate
    The process of hiring employees
    A specific group of customers that a business aims to serve
    30s
  • Q10
    What is considered to be the most important principle in ethical research?
    Maximizing profits
    Achieving personal gain
    Obtaining accurate results
    Respect for human dignity
    30s
  • Q11
    What is an example of an ethical issue in business?
    Low product quality
    Customer service
    Advertising campaigns
    Unfair treatment of employees
    30s
  • Q12
    What is the purpose of obtaining informed consent in research?
    To manipulate participants' responses
    To expedite the research process
    To exclude certain individuals from participating
    To ensure voluntary participation and understanding
    30s
  • Q13
    Which of the following is an ethical consideration in entrepreneurship?
    Maximizing profit at all costs
    Treating employees fairly and with respect
    Exploiting customers for personal gain
    Copying ideas from competitors
    30s
  • Q14
    What is an example of ethical behavior in entrepreneurship?
    Being transparent and honest with stakeholders
    Engaging in price-fixing practices
    Exaggerating product benefits in marketing
    Avoiding paying taxes
    30s
  • Q15
    Which of the following is an ethical issue in entrepreneurship?
    Implementing sustainable business practices
    Providing excellent customer service
    Offering fair prices for products/services
    Engaging in unfair competition practices
    30s

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