Entrepreneurship, Franchises & Small Businesses Quiz

Entrepreneurship, Franchises & Small Businesses Quiz

12th Grade

15 Qs

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Entrepreneurship, Franchises & Small Businesses Quiz

Entrepreneurship, Franchises & Small Businesses Quiz

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

Natalie Harmon

Used 6+ times

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15 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

How do small businesses help the economy?

Help keep prices down and the quality of the products and services high by providing more competition.

Helps increase the standard of living

Provide specialized products and services

Provide jobs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three ways to start your own business?

Creating from scratch, purchasing an existing business, buying a franchise

Working for a large company, investing in stocks and bonds, providing services to others

Starting a non-profit organization, becoming a freelancer, investing in real estate

Becoming a government employee, joining a cooperative, starting a social enterprise

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not an example of a service business?

education

manufacturing

law

healthcare

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of business sells their time, skills, and expertise?

Service provider

Manufacturer

Wholesaler

Retailer

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Small Business Administration (SBA) responsible for?

Providing financial, technical, and management assistance

Enforcing business regulations and laws

Promoting large corporations

Supporting non-profit organizations

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of a business plan?

To outline the goals and projections of a business

To secure business insurance coverage

To register with federal, state, and local agencies

To estimate monthly personal expenses

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a franchise?

A legal and commercial relationship between two parties

A type of service business

A government-owned business

A non-profit organization

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