Entrepreneurship and small business test
3
Which characteristic would be beneficial to an entrepreneur? - ANS Doesnt give up easily
What are three characteristics of entrepreneurs? - ANS Disciplined, honest, responsible
How would a prospective entrepreneur benefit from a personality self-assessment? - ANS It
can identify strengths and weaknesses in the entrepreneurs leadership style
Which variable should be used by the automotive mechanic to attract these customers? - ANS
Speed of service
Which choice should the entrepreneur make based on this failure? - ANS The entrepreneur
should evaluate why the business failed and identify the strengths and weaknesses of the
business.
Which are the two greatest entrepreneurial risks being taken to start this business? - ANS
Financial uncertainty, loss of free time
Which are three rewards of entrepreneurship? - ANS Doing work your way, potential for
greater wealth, helping the community
Match each business opportunity to its associated benefit and drawback - ANS Buy a
franchise - benefit:branding success
Start a new business - benefit:build your own way
Buy and existing business - benefit: has customers
Which are three reasons to buy a franchise instead of starting a business from scratch? - ANS
Exclusive geographic area, proven system, easier financing
Which two questions should the painter research? - ANS How many competitors are in the
area?
What are the spending patterns of potential customers in the area?
Which cruise add on should be promoted from a revenue perspective? - ANS Shore
excursions
Which method of segmentation is the owner using? - ANS Behavioral
3
Which characteristic would be beneficial to an entrepreneur? - ANS Doesnt give up easily
What are three characteristics of entrepreneurs? - ANS Disciplined, honest, responsible
How would a prospective entrepreneur benefit from a personality self-assessment? - ANS It
can identify strengths and weaknesses in the entrepreneurs leadership style
Which variable should be used by the automotive mechanic to attract these customers? - ANS
Speed of service
Which choice should the entrepreneur make based on this failure? - ANS The entrepreneur
should evaluate why the business failed and identify the strengths and weaknesses of the
business.
Which are the two greatest entrepreneurial risks being taken to start this business? - ANS
Financial uncertainty, loss of free time
Which are three rewards of entrepreneurship? - ANS Doing work your way, potential for
greater wealth, helping the community
Match each business opportunity to its associated benefit and drawback - ANS Buy a
franchise - benefit:branding success
Start a new business - benefit:build your own way
Buy and existing business - benefit: has customers
Which are three reasons to buy a franchise instead of starting a business from scratch? - ANS
Exclusive geographic area, proven system, easier financing
Which two questions should the painter research? - ANS How many competitors are in the
area?
What are the spending patterns of potential customers in the area?
Which cruise add on should be promoted from a revenue perspective? - ANS Shore
excursions
Which method of segmentation is the owner using? - ANS Behavioral
