Question 1

What is one of the key characteristics of entrepreneurship?

Accepted Answer

Taking risks

Answer

Avoiding challenges

Answer

Following instructions

Answer

Conforming to norms

Question 2

Which of the following is an example of a small business in a community?

Accepted Answer

Local bakery

Answer

Nonprofit organization

Answer

International corporation

Answer

Government agency

Question 3

What is a business plan?

Accepted Answer

A written document outlining the goals and strategies of a business

Answer

A contract between business partners

Answer

A government regulation for businesses

Answer

A financial statement of a business

Question 4

What does the term 'market research' refer to in entrepreneurship?

Accepted Answer

Gathering information about potential customers and competitors

Answer

Developing advertising strategies

Answer

Hiring and training employees

Answer

Managing financial resources of a business

Question 5

What is the role of networking in entrepreneurship?

Accepted Answer

Building relationships and connections with professionals and potential partners

Answer

Developing marketing strategies

Answer

Managing finances and accounting

Answer

Evaluating market trends and consumer behavior

Question 6

What is a unique selling proposition (USP) in entrepreneurship?

Accepted Answer

A distinctive feature or benefit that sets a product or business apart from competitors

Answer

The price of a product or service

Answer

The number of employees in a company

Answer

The location of a business

Question 7

What is the meaning of the term 'business model' in entrepreneurship?

Accepted Answer

A framework that outlines how a business creates, delivers, and captures value

Answer

The physical location of a business

Answer

The pricing strategy of a product

Answer

The legal structure of a business

Question 8

What is the role of innovation in entrepreneurship?

Accepted Answer

Creating new or improved products, services, or processes

Answer

Managing financial resources of a business

Answer

Hiring and training employees

Answer

Developing marketing strategies

Question 9

What is a common challenge faced by entrepreneurs in a small community?

Accepted Answer

limited customer base

Answer

unlimited resources

Answer

high competition

Answer

oversaturation of the market

Question 10

What is an important factor for successful entrepreneurship in a small community?

Accepted Answer

community engagement

Answer

ignoring local customers

Answer

strict competition with other businesses

Answer

isolation from the community

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