Business Studies Quiz

What is an entrepreneur?

• Someone who works for a large corporation

• A person who invests in stocks

• An individual with a new business idea who is willing to take risks

• A government employee

What is entrepreneurship?

• Investing in real estate

• Working as an employee in a company

• Providing a unique way of offering a good or service

• Starting a charity organization

What is a characteristic of successful entrepreneurs?

• Risk-averse

• Avoid networking opportunities

• Introverted and shy

• Results-driven

What is included in the contents of a business plan?

• Recipes for healthy meals

• Current weather forecast and sports news

• Market research and financial forecasts

• Details of the entrepreneur and their favorite hobbies

How do business plans assist entrepreneurs?

• Provide entertainment during meetings

• Persuade lenders to provide finance and set targets for the business

• Create unnecessary paperwork

• Increase the number of coffee breaks

Why do governments support business start-ups?

• To reduce competition

• To limit consumer choice

• To create jobs and promote competition

• To increase prices for consumers

How can a business grow?

• Through internal and external growth strategies

• By ignoring market trends

• By staying stagnant and not making any changes

• By avoiding any form of expansion

What are some problems linked to business growth?

• No fear of job loss for employees

• Lack of control in decision-making

• Conflict between management and employees

• Fast internal growth

Why do some businesses remain small?

• To increase market share

• To have a lifestyle choice and provide personal service

• To dominate the market

• To access more capital easily

What is the importance of market research for entrepreneurs?

• To waste time and resources

• To understand customer needs and preferences

• To avoid competition

• To limit business growth