Reference no: EM133333645
1. Which of the following is not a potential benefit of entrepreneurship?
Control over Compensation
Uncertain revenue
Self-esteem
Contribution to Society
2. Match the following.
consists of advertising, publicity, and other methods.
should meet or creating customer need.
its about reaching the door of the customer.
should be realistic and in connection to the benefit.
1. Product
2. Price
3. Promotion
4. Place
3. Balance sheet is a financial statement summarizing the assets, liabilities, and net worth of a business.
True
False
4. A person who recognizes an opportunity and organizes and manages a business, assuming the risk for the sake of potential return is..
An intrapreneur
A leader
An entrepreneur
A manager
5. A brief, written statement that informs customers and employees what an organization's goal is and describes the strategy and tactics to meet it is..
mission statement
mission
vision statement
vision
6. Which of the following is NOT a barriers to entry?
Economies of scale
Unable to access the distribution channels
Huge capital requirements
Low profits
7. Which of the following correctly refers to the term 'Mass market'?
None of the given.
Large, broadly similar group of customers
narrow, specialized, specific group of customers
groups with slightly different needs and problems
8. The value of something which must be given up in order to obtain something else is know as..
Choice
Opportunity cost
Focus
Value creation cost
9. ____________ is labor or expertise exchanged for money, and is intangible in nature.
A service
A physical product
An experience
An idea
10. An economic system in which businesses are privately owned and operate relatively free of government interference is..
Free economy
Organic economy
No government intervention
Free-enterprise
11. Business activities that avoid harm to the environment or help to protect it in some way are..
Green entrepreneurship
Organic entrepreneurship
Environmental entrepreneurship
Ethical entrepreneurship