Market Research - 2nd Level

Entrepreneurship is the process of

• Starting a business

• Starting a business and operating a business

• Starting a business, operating a business, and growing a business

• None of the above

Many entrepreneurs were influenced early in life by

• teachers who thought they should be self-employed

• recognition for scholastic achievement

• entrepreneurial role models

• the lack of opportunity for work experience

Your notes described 12 characteristics of an entrepreneur. Which one is not a characteristic?

• Goal Oriented

• Responible

• Risk Taker

• Long Hours

Riley is thinking about opening a business. Which of the following is NOT one of the forms of business organizations that she can structure himself as?

• Sole proprietorship

• Corporation

• Partnership

• Family-owned business

What form of business organization can own assets and borrow money without directly involving the people who own it and, therefore, is closely regulated by the government?

• Corporation

• Sole Proprietorship

• Partnership

• Family Owned Business

Zachary is a stockholder in an automobile manufacturing corporation. If the company should experience large financial losses, John would have ____________________ liability.

• Limited

• General

• Full

• Extended

Kyle wants to establish a business that is subject to the least amount of taxation and government regulation? Which type of business ownership will suit him the best?

• Sole proprietorship

• Corporation

• Limited liability

• Franchise

Terra owns 40% of the Jimmy Bar and Grill, and Temidayo owns 60%, what type of business is the Jimmy Bar and Grill?

• general partnership

• sole proprietorship

• limited partnership

• corporation

Melanie wants to open a clothing boutique but she has to consider several factors before she decides if it is a good choice. One thing she must consider is the ________, which force(s) companies to become more efficient to survive.

• Competition

• Products

• Price

• Capital

One reason that Entrepreneurs have unlimited opportunities to open a business in the U.S. is because of the economic choice afforded to them. Economic choice is about

• Setting Goals

• Choosing to own private property

• Finding opportunity

• Competition