ENTREPRENEURSHIP

CHAPTER 1 QUIZ

Name:___________________________ Date:___________

I. Match each statement with the term that best defines it.

A. Aptitude F. Ideas
B. Brainstorming G. Opportunities
C. Employees H. Problem-solving model
D. Entrepreneurs I. Self-assessment
E. Entrepreneurship J. Trade shows

C 1. People who work for someone else.

I 2. An evaluation of your strengths and weaknesses.
B 3. A creative problem-solving technique that involves generating a large number of
fresh ideas
J 4. Special meetings at which companies of the same industry or related industries
display their products.
D 5. People who own, operate, and take the risk of a business venture
F 6. Thoughts or concepts that come from creative thinking
A 7. The ability to learn a particular kind of job
E 8. The process of running a business of one’s own

II. Multiple choice

9. .Barbara Wall had a great recipe for sweet bell pepper sauce. Her friend Lynne Wilson
convinced her that they should go into business together and sell the sauce. They now
ship J.T.’s Red Sauce to stores in 35 states. Wall and Wilson are examples of

A. Intrapreneurs C. Employees
B. Entrepreneurs D. Managers

10. Which of the following is not an example of an entrepreneur?

A. Diane Molberg started By Request, a successful home bakery business.
B. Donna Cook started a cleaning service 10 years ago.
C. Gwen Morgan manages The Secret Garden, a business owned by her sister.
D. Elmer Olsen created Bayfi eld Apple Jam and distributes the jam nationally.

11. . Team members who have the right set of skills needed to get the job done are
demonstrating ____.
A. Competency C. Fast leaner
B. Bravery D. Aggressiveness

12. H&R Block tax service is an example of which type of business?

 A. Manufacturing business C. Retailing business
B. Wholesaling business D. Service business

13. The plant where Goodyear tires are made is an example of which type of business?
A. Manufacturing business C. Retailing business
B. Wholesaling business D. Service business

14. According to the Small Business Administration’s Office of Advocacy, how many new
businesses survive for at least two years?
A. 67 percent C. 25 percent
B. 44 percent D. 10 percent

15. Which of the following is not an advantage of entrepreneurship?

A. Entrepreneurs are their own bosses.
B. Entrepreneurs can be creative.
C. Entrepreneurs take all the risks.
D. Entrepreneurs can make large sums of