Entrepreneurship Question Preview (ID: 22558)


Characteristics And Traits Of An Entrepreneur. TEACHERS: click here for quick copy question ID numbers.

What could cause a new business to not be able to keep up with the demand for its new service?
a) Failure to apply for a loan or a grant
b) Failure to pay taxes for the new business
c) Lack of a good advertising campaign
d) Shortage of trained employees

What could cause a new business to have very few sales during its first year?
a) Failure to pay taxes for the new business
b) Failure to apply for a loan or a grant
c) Lack of a good advertising campaign
d) Lack of a trademark for the company logo

Listing people and businesses who might give money to start the business, completing an application for a business loan at the bank, and advertising for people to work in the new business are all classified as which stage of the entrepreneurial proce
a) Discovery
b) Concept Development
c) Resourcing
d) Actualization

What is an example of an activity that is performed during the actualization phase of the entrepreneurial process?
a) Conduct a survey of potential customers
b) Hold a clearance sale to reduce inventory
c) Sell stock to the public through the NYSE
d) Decide to locate the business in Charlotte

What could cause a new business to run short of cash during its first year?
a) Failure to apply for a loan or a grant
b) Failure to pay taxes for the new business
c) Failure to secure proper permits and licenses
d) Shortage of trained employees

Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs want to make their own decisions, set their own schedules, and can work without supervision?
a) Goal-Oriented
b) Independent
c) Risk-Takers
d) Self-Confident

Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs are accountable for their actions?
a) Creative
b) Inquisitive
c) Persistent
d) Responsible

Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs work until the job is done?
a) Creative
b) Inquisitve
c) Persistent
d) Self-Confident

Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs develop a plan of action and make decisions to help achieve that plan?
a) Goal-oriented
b) Independent
c) Risk-Takers
d) Self-Confident

Emma and Ivy are considering beginning a jewelry-making business. They have been collecting, reviewing, and interpreting the surveys they distributed last week about their business idea. Emma and Ivy are in what stage of the entrepreneurial process?
a) Actualization
b) Concept Development
c) Discovery
d) Harvesting

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