Chapter 5: Starting & Growing a Business

Quiz
•
Business
•
9th - 12th Grade
•
Medium
Brian Burke
Used 24+ times
FREE Resource
33 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_________ is the process of creating and managing a business to achieve desired objectives. *
Entrepreneurship
Innovation
Brainstorming
Risk-Taking
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A small business is any independently owned business that employs not more than people. (BEST ANSWER)
25
100
250
500
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People become entrepreneurs because of all the following reasons except:
Want the challenge of building a business
Loved working for someone else
Wanted to be their own boss
Believed it was the best route to financial independence
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Salma owns a Lebanese restaurant that employs around 25 people. She is solely responsible for the management of the restaurant. Her business has to compete with a larger chain of restaurants that offer the same cuisine. Salma's restaurant can be classified as a:
multinational corporation
small business
conglomerate
franchise
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is true about the role of small businesses in the American economy? *
They only represent about 25% of all employer firms.
There has been a decline in the number of small businesses owned by minorities.
They employ more than 1000 employees.
They play a significant role in a healthy economy.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following reasons makes retailing an attractive industry for small businesses? *
Retailing eliminates the need for any entrepreneurial skills.
Retailing offers high barriers to entry.
Retailing requires low initial financing.
Retailing eliminates the need to engage with customers.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best illustrates a small business operating in a retail industry as opposed to wholesaling its products?
Neon Love Inc. imports candles and directly sells them to customers through its stores.
Pink Cult, an apparel company, sells its merchandise through Kohl's, Macy's, & Target.
BC Inc. manufactures stationery and sells it in bulk to book shops and supermarkets.
Janet bakes cakes and sells them to other restaurants and cafes in malls.
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