Have an account?
Skip to Content
20 questions
Show Answers
See Preview
- Multiple ChoicePlease save your changes before editing any questions.
Who is an entrepreneur?
businessman
innovator
gentleman
trader
- Multiple ChoicePlease save your changes before editing any questions.
A creative ________, he was continually dreaming up new projects.
trader
merchant
entreprenuer
seller
- Multiple ChoicePlease save your changes before editing any questions.A target market is a group of _______ that the _______ has decided to aim its marketing efforts and ultimately its merchandise towards.Companies, BusinessCompanies, ResearchCustomer, BusinessBusiness, Customer
- Multiple ChoicePlease save your changes before editing any questions.
What is a business plan?
Written document that only outlines the business practices of the new business.
Written document that describes the financial aspects of the business.
Written document that only describes the ownership of the business.
Written document that describes all the steps necessary for opening and operating a successful business.
- Multiple ChoicePlease save your changes before editing any questions.
All partnerships must be 50 - 50?
True
False
- Multiple ChoicePlease save your changes before editing any questions.
Items that can be seen and touched are known as...
Goods
Services
- Multiple ChoicePlease save your changes before editing any questions.
People who are part owners of a company are known as...
Stakeholders
Shareholders
Customers
People
- Multiple ChoicePlease save your changes before editing any questions.
Someone who starts, operates and assumes the risk of a business is known as an...
Investor
Interest person
Entrepreneur
Business inventor
- Multiple ChoicePlease save your changes before editing any questions.
A business with less than 20 employees can be classified as a...
Small business
Medium business
Large business
extra small business
- Multiple ChoicePlease save your changes before editing any questions.
Services that have been traditionally been performed at home are part of which industry?
Tertiary
Primary
Quinary
Secondary
- Multiple ChoicePlease save your changes before editing any questions.
A business that is owned and operated by a single person is known as a...
Partnership
Sole trader
Private company
Public company
- Multiple ChoicePlease save your changes before editing any questions.
The owner of a business being responsible for all debts is known as....
Limited liability
Unlimited liability
- Multiple ChoicePlease save your changes before editing any questions.
Environmental factors over which businesses have very little control over are known as...
internal
existing
external
international
- Multiple ChoicePlease save your changes before editing any questions.
Periods of growth in the economic cycle are known as...
Recession
troughs
busts
booms
- Multiple ChoicePlease save your changes before editing any questions.
What is the first stage of the business life cycle?
Post-maturity
growth
maturity
establishment
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following best describes the term limited liability? If the business fails:
Personal possessions of the owner can be taken to pay any debts
The owner is personally liable for all the debts of the business
There is no limit on the amount the owner has to pay to settle debts
The owner only loses the amount invested in the business
- Multiple ChoicePlease save your changes before editing any questions.
What are the owners of private and public limited companies called?
Stakeholders
Managers
Board of directors
Shareholders
- Multiple ChoicePlease save your changes before editing any questions.
What can a business sell?
goods
services
goods and services
- Multiple ChoicePlease save your changes before editing any questions.
Who is an entrepreneur?
someone who works for a large company
someone who studies business in University
someone who starts their own business
- Multiple ChoicePlease save your changes before editing any questions.
What is profit?
the money you spend - the price you sell it for
the price you sell if for- the money you spend
the price you sell it for + the money you spend