Question 1(Multiple Choice Worth 5 points)
(01.02 LC)
Which of the following describes forward-thinking as a characteristic of an entrepreneurial mindset?
The ability to foresee obstacles, recognize potential for growth, and be proactive in preparing for the future
The ability to think "outside the box" to create and implement new ideas and solutions
The capacity to recognize opportunities in problems, identify trends, and then create innovative solutions
The willingness to openly communicate with others and brainstorm solutions to achieve a common goal
Question 2(Multiple Choice Worth 5 points)
(01.05 MC)
Which example best represents how security and privacy is shaping the future of entrepreneurship?
Using biometrics to secure confidential records
Using mobile apps to order and track supplies
Using users' online buying habits to personalize advertisements
Using online platforms to allow employees to collaborate
Question 3(Multiple Choice Worth 5 points)
(01.04 LC)
Which of the following describes the permission level of a ShareAlike (SA) Creative Commons license?
It allows the licensee to copy, distribute, and display the work without making any derivatives or adaptations.
It allows the licensee to copy, distribute, display, and make derivative works for non-commercial uses only.
It allows the licensee to copy, distribute, display, and make derivative works as long as credit is given to the creator.
It allows the licensee to distribute derivative works under the same terms as the license of the original work.
Question 4(Multiple Choice Worth 5 points)
(01.05 LC)
Which of the following is the state in which supply and demand are balanced and the supply curve and the demand curve intersect?
Equilibrium point
Law of demand
Law of supply
Law of supply and demand
Question 5(Multiple Choice Worth 5 points)
(01.05 LC)
How do entrepreneurs contribute to economic growth?
By creating employment deficiencies
By decreasing competition
By promoting environmental challenges
By responding to unmet needs
Question 6(Multiple Choice Worth 5 points)
(01.02 LC)
The ability to see problems from multiple angles and use high-level thinking to find effective solutions describes which characteristics of an entrepreneurial mindset?
Critical thinking and problem-solving skills
Ethical practices and social responsibility
Grit and growth mindset
Self-reliance and initiative
Question 7(Multiple Choice Worth 5 points)
(01.05 LC)
How do small businesses impact global economic development?
They account for the majority of businesses worldwide, especially in developing countries.
They decrease tax revenue in their local economies.
They decrease competition in their local communities.
They reduce the money spent on goods and services produced in developed economies.
Question 8(Multiple Choice Worth 5 points)
(01.04 MC)
Which of the following is an example of something you would protect with a trademark?
An oil painting
The design for a vehicle
The formula for a medication
The logo for a brand
Question 9(Multiple Choice Worth 5 points)
(01.03 LC)
Which of the following describes how intrapreneurship can benefit aspiring entrepreneurs?
It can create an innovative workforce.
It can provide creative solutions.
It can provide entrepreneurial experience.
It can regulate new opportunities.
Question 10(Multiple Choice Worth 5 points)
(01.05 MC)
When the importation of produce from several countries is banned, citizens are unable get fruits and vegetables not grown in their own country. Which type of scarcity is this an example of?
Demand-induced
Shortage
Structural
Supply-induced
Question 11(Multiple Choice Worth 5 points)
(01.03 LC)
A business that is privately owned with fewer employees and less revenue than large businesses is called
a franchise
a small business
entrepreneurship
intrapreneurship
Question 12(Multiple Choice Worth 5 points)
(01.01 LC)
What is one reason people choose to become entrepreneurs?
They are too creative to be limited by a corporate environment.
They have conventional and unimaginative ideas.
They want a predictable lifestyle with a nine-to-five workday.
They want to avoid challenges.
Question 13(Multiple Choice Worth 5 points)
(01.04 LC)
Which of the following best describes personal ethics?
Actions or behaviors considered unacceptable in day-to-day business operations
One's moral principles applied to business issues and actions
One's personal beliefs about what is right and wrong
The application of moral principles
Question 14(Multiple Choice Worth 5 points)
(01.04 LC)
Unethical business practices can result in
boosting customer confidence
building credibility
increasing morale
losing credibility
Question 15(Multiple Choice Worth 5 points)
(01.04 LC)
Which of the following is an example of personal ethics?
Confidentiality
Honestly
Time management
Transparency
Question 16(Multiple Choice Worth 5 points)
(01.05 MC)
Which of the following is an example of an advantage of the profit motive?
A business lowering its employees' pay to reduce expenses
A business using a lower-quality product to reduce costs
A manufacturer reducing safety standards to save money
Two companies lowering prices to compete with each other
Question 17(Multiple Choice Worth 5 points)
(01.05 LC)
Which of the following is an example of an industrial good?
Bicycle
Furniture
Haircut
Wood
Question 18(Multiple Choice Worth 5 points)
(01.05 MC)
Which of the following examples best represents how an entrepreneur can contribute to society through mentorship?
Creating a foundation that provides access to agricultural markets for farmers in developing countries
Offering an apprenticeship to students who are interested in starting a business
Sponsoring a youth baseball team in return for displaying the business's logo on the jerseys
Teaching free financial literacy classes through a community-based organization
Question 19(Multiple Choice Worth 5 points)
(01.03 MC)
Daphne is on the innovation team at the company she works for. They recently designed and launched a medical device that is expected to surpass anything else on the market. Which type of entrepreneurship is involved?
Buyer
Imitator
Large company
Scalable startup
Question 20(Multiple Choice Worth 5 points)
(01.01 MC)
Choose the best example of an advantage of being self-employed.
Aurora can plan for her bills because she knows exactly how much she will earn each month.
Ezra can follow his passion for styling hair to earn a living.
Felix can take a vacation and not have to worry about missed income.
Freya can use the money she saves on taxes to buy more supplies.
1 answer
1 answer