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Intro To Business Ch6
Test Description: Good Luck!
Instructions: Answer all questions to get your test result.
1) A good example of an entrepreneur is a(n)
A
UPS delivery guy
B
police officer
C
gift shop owner
D
checkout clerk at Target
2) Personal characteristics of successful entrepreneurs include
A
recklessness
B
greed
C
persistence
D
pessimism
3) New businesses are often discontinued becuase of
A
all of the above
B
higher than expected expenses
C
low sales
D
competitive
4) According to the Small Business Administration, a small business is an independent business with fewer than _____ employees.
A
500
B
100
C
10
D
50
5) Small businesses
A
must focus on products and services that meet the needs of as large a group of customers as possible
B
all of the above
C
are enerally forced to sell products and services at lower prices than large businesses to compete effectively
D
have an advantage when customers want more individual attention
6) Business ideas can come from
A
books and magazines.
B
hobbies and interests
C
all of the above
D
business experiences
7) The obligation to complete specific work is called
A
authority
B
span of control
C
accountabliilty
D
responsiblity
8) Most successful entrepreneurs have a lower tolerance for ambiguity.
A
true
B
false
9) most of the money needed to start a new business comes from the entrepreneur and his or her own family.
A
false
B
true
10) The American private enterprise system discourages risk-taking and innovation.
A
true
B
false
*select an answer for all questions
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