Entrepreneurship Test Review

A ______________ is a quick description of your business that you use to explain it to potential investors.

• sales forecast
• business picth
• business analysis 
• business plan

__________________ are the operating expenses that a business must pay regardless of how many sales are made.

• fixed operating expenses
• variable expenses
• profits
• production cost

___________ is a potential group of customers, people, or businesses that are able and willing to purchase a particular product or service.

• an indirect competiter
• the market
• sales force
• a direct competitor 

___________ is an organized way to gather and understand information needed to make informed business decisions based on the potential customers and competitors that exist in the market.

• audience analysis
• competition report
• market research
• a customer report

The amount of money that an entrepreneur earns when total costs are subtracted from total sales is called ______________.

• overhead
• profit
• salary
• contribution margin

What does a SWOT analysis evaluate?

• trengths, Weaknesses, Opposition, Threats
• Strengths, Weaknesses, Opportunities, Targets
• Symptoms, Weaknesses, Opportunities, Threats
• Which of the following is NOT considered a risk of being an entrepreneur?

Which of the following is NOT considered a risk of being an entrepreneur?

• potential business failure
• financial insecurity
• long hours and hard work
• providing value to others

What is the definition of an entrepreneur?

• An entrepreneur is someone who manages a business.
• An entrepreneur is someone who creates a business and potentially makes money and runs the business.
• An entrepreneur is someone who owns a business and makes profit from that business
• none of these

Which of the following is NOT true about an entrepreneur?

• An entrepreneur gets to act as his own boss.
• An entrepreneur has ownership in the business
• An entrepreneur's salary is evaluated based on his ability to complete the tasks assigned to him
• An entrepreneur is responsible for the success of their business

Which of the following are assests?

• a car
• money
• time
• all the above