ENTR Ch 1-3 Review

ENTR Ch 1-3 Review

9th - 12th Grade

60 Qs

quiz-placeholder

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ENTR Ch 1-3 Review

ENTR Ch 1-3 Review

Assessment

Quiz

Life Skills, Business

9th - 12th Grade

Practice Problem

Medium

Created by

Jennifer Newcom

Used 5+ times

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60 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Based on the idea of cost and benefits, which of the following activities is most beneficial?

A) Playing video games
B) Watching a PBS special about nature
C) Seeing a speaker you admire and want to mentor you
D) Going to a movie with your favorite actor/actress
E) Hanging out with friends

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following could be considered an acquisition?

A) Inheriting your father's business
B) Building a new restaurant
C) Inventing a new product and selling it
D) Starting a recycling business
E) Buying a business from a retiring owner

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which is not part of Schumpeter's definition regarding the ways that entrepreneurs find opportunities to create new businesses?

A) Use a new technology to produce a new product
B) Use an existing technology to produce a new product
C) Use an existing technology to produce an old product in a new way
D) Find a new source of resources
E) Find a new market for a new product

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following could not be considered opportunity costs?

A) Time
B) Energy
C) Money
D) Entertainment
E) All of the above can be considered opportunity costs.

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A ________ is a legal and commercial relationship between the owner of a trademark, service mark, trade name or advertising symbol and an individual or group seeking to use that identification in a business.

A) Franchise
B) License
C) Acquisition
D) Merger
E) Opportunity

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is not an economic question listed in the text?

A) What should be produced?
B) How much will it cost to be produced?
C) When will it be produced?
D) Who will produce it?
E) Who gets to have what is produced?

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is not a way to identify business opportunity as discussed in the text?

A) Exploiting changes in the world
B) Seeing opportunity where others see problems
C) Training your mind to recognize opportunity
D) Using your imagination
E) Seeing what is wrong, but not a way to fix it

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