Entrepreneurship Final Exam Review
Quiz by NeKeisha King Price
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50 questions
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- Q1What is the term for the process of starting a new business?MarketingInnovationSustainabilityEntrepreneurship30s
- Q2What is a business plan?A financial statementA road map for the future of a businessA list of potential customersA marketing campaign30s
- Q3Which of the following is a characteristic of successful entrepreneurs?ConformityComplacencyConservatismRisk-taking30s
- Q4What is the term for an individual who organizes, manages, and takes on the risks of a business?ConsumerInvestorEntrepreneurEmployee30s
- Q5What is the term for the practice of developing and creating new ideas or solutions to problems?TraditionInnovationStagnationRepetition30s
- Q6What is market research in entrepreneurship?Creating a pricing strategyThe process of manufacturing productsGathering and analyzing information about potential customers and competitorsPromoting a business through advertising30s
- Q7What is a business model in entrepreneurship?A location for a businessA legal registration documentA plan that outlines how a business will generate revenue and achieve profitabilityA list of potential business names30s
- Q8What does the term 'bootstrapping' mean in entrepreneurship?Promoting a business through social mediaAcquiring a large amount of venture capitalExpanding a business through franchisingBuilding and growing a business with minimal external funding or resources30s
- Q9What is a target market in entrepreneurship?The physical location of a businessThe amount of revenue a business aims to generateThe process of hiring employeesA specific group of customers that a business aims to serve30s
- Q10What is considered to be the most important principle in ethical research?Maximizing profitsAchieving personal gainObtaining accurate resultsRespect for human dignity30s
- Q11What is an example of an ethical issue in business?Low product qualityCustomer serviceAdvertising campaignsUnfair treatment of employees30s
- Q12What is the purpose of obtaining informed consent in research?To manipulate participants' responsesTo expedite the research processTo exclude certain individuals from participatingTo ensure voluntary participation and understanding30s
- Q13Which of the following is an ethical consideration in entrepreneurship?Maximizing profit at all costsTreating employees fairly and with respectExploiting customers for personal gainCopying ideas from competitors30s
- Q14What is an example of ethical behavior in entrepreneurship?Being transparent and honest with stakeholdersEngaging in price-fixing practicesExaggerating product benefits in marketingAvoiding paying taxes30s
- Q15Which of the following is an ethical issue in entrepreneurship?Implementing sustainable business practicesProviding excellent customer serviceOffering fair prices for products/servicesEngaging in unfair competition practices30s