A budding entrepreneur who is looking to set up a new enterprise is concerned that the business might not provide enough of a stable income to maintain his current standard of living. Which of the following best describes this risk?
1.1.1 & 1.1.2 Dynamic nature of business & risk and reward

Quiz
•
Business
•
9th - 10th Grade
•
Medium
P Bell
Used 235+ times
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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Inability to break even
Lack of security
Business failure
Lack of independence
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sara decided to start-up a business as a personal trainer, due to her passion for fitness.
Which of the following is the main reason behind Sara’s business idea?
Earn more money
Pursue an interest
Be her own boss
Work more flexible hours
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Increased concern from consumers over the environment has led to new business start-ups developing products from recycled materials. These business ideas have come about due to:
Services that have become obsolete
Products that have become obsolete
Changes in consumer demand
Changes in the interest rate
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements best describes the term, reward?
The probability that something will go wrong
The chance of loss or damage
When a hoped for outcome does not happen
The benefits gained through business activity
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An entrepreneur has developed a unique product to launch into the market. Which of the following best describes how this new business idea came about?
An original idea
Adapting an existing product
Adapting an existing service
Adapting an existing idea
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a financial reason why an entrepreneur might start-up a new business?
To make a profit
To pursue a skill or interest
To have more freedom in decision-making
To achieve a work-life balance
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes the term, obsolete? When consumers:
Demand more of a particular product or service
Want, and can afford, to buy more products and services
Can no longer afford to buy a particular product or service
No longer want to buy a particular product or service
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