Have an account?
Skip to Content
Introducing new Paper mode
No student devices needed. Know more
24 questions
Show Answers
See Preview
- Multiple ChoicePlease save your changes before editing any questions.The act of assuming the risk of organizing productive resources to produce goods and services.businesscritical thinkingentrepreneurshiprisk management
- Multiple ChoicePlease save your changes before editing any questions.Which one of these is NOT a characteristic of an entrepreneur?risk takeridea persongeneralistspecialist
- Multiple ChoicePlease save your changes before editing any questions.
Which is a characteristic of a successful entrepreneur? (hint: choose 3 correct answers)
Motivated
Takes very little risk
Passionate
Hard-working
- Multiple ChoicePlease save your changes before editing any questions.
What is a disadvantage of being an entrepreneur?
You have more control over your work
You have a more flexible schedule
You do not always receive a regular paycheck
Your work schedule is always predictable
- Multiple ChoicePlease save your changes before editing any questions.Most entrepreneurs work long hours, but they create their own schedule.TrueFalse
- Multiple ChoicePlease save your changes before editing any questions.
They’re able to not only come up with ingenious ideas, but also turn those ideas into profits.
Creative
Perseverance
Persistence
Self Confidence
- Fill in the BlankPlease save your changes before editing any questions.
The development of the idea for the business is called
- Fill in the BlankPlease save your changes before editing any questions.
The setting up of the business, deciding on the best location, identifying suitable premises, employing workers describe
- Multiple ChoicePlease save your changes before editing any questions.
Ensuring that the business is successful once you have established it is called
operating
evaluating
bearing risk
organizing
- Fill in the BlankPlease save your changes before editing any questions.
The owner must ensure that the business is assessed and make changes where necessary.
- Fill in the BlankPlease save your changes before editing any questions.
_________ is the term used to describe money invested in a business.
- Fill in the BlankPlease save your changes before editing any questions.
The owners desire to gain wealth describes ____________. (reason for starting a busines)
- Multiple ChoicePlease save your changes before editing any questions.
Being in control of your own business describes which of the following reasons for starting a business.
Independence
Income
Redundancy
Poor Job prospects
- Fill in the BlankPlease save your changes before editing any questions.
List one of the first five roles of entrepreneurs in the decision making process.
- Fill in the BlankPlease save your changes before editing any questions.
A feeling of belonging and being part of a nation is called
- Multiple ChoicePlease save your changes before editing any questions.
By providing employment opportunities, enterprises
aid national economic development
decreases their business profits
improves accounting procedures
reduces sales
- Multiple ChoicePlease save your changes before editing any questions.
True or False. Economic Development refers to how advanced an economy is.
True
False
- Multiple ChoicePlease save your changes before editing any questions.
Land includes...
The "gifts of nature" or natural resources not created by human effort.
the tools, equipment, and factories used in production of goods and services
people with all their efforts and abilities
individuals who start a new business or bring a product to market.
- Multiple ChoicePlease save your changes before editing any questions.
Capital refers to...
The "gifts of nature" or natural resources not created by human effort.
people with all their efforts and abilities
the tools, equipment, and factories used in production of goods and services
individuals who start a new business or bring a product to market.
- Multiple ChoicePlease save your changes before editing any questions.
Labor refers to...
people with all their efforts and abilities
individuals who start a new business or bring a product to market.
the tools, equipment, and factories used in production of goods and services.
The "gifts of nature" or natural resources not created by human effort.
- Multiple ChoicePlease save your changes before editing any questions.A bulldozer is an example of...LandLaborEntrepreneursCapital
- Multiple ChoicePlease save your changes before editing any questions.Forests are examples of...LandLaborEntrepreneursCapital
- Multiple ChoicePlease save your changes before editing any questions.
Which of the factors of production is this?
capital
entrepreneur
land
labor
- Multiple ChoicePlease save your changes before editing any questions.
Which factor of production is this?
capital
entrepreneur
land
labor