OpenStax Entrepreneurship Test Bank
Chapter 14: Fundamentals of Resource Planning
Chapter 14: Fundamentals of Resource Planning
* = Correct answer
Multiple Choice/Fill in the Blank
1. Assets that have a physical form are called ________.
A. intangible
B. intellectual property
C. necessary
D. tangible*
Difficulty: Easy
2. All of the following are examples tangible resources except ________.
A. computers
B. raw materials
C. trademarks*
D. vehicles
Difficulty: Easy
3. Which of the following is a word, phrase, symbol, or graphic that identifies the origin or
source of a service?
A. copyright
B. patent
C. service mark*
D. trademark
Difficulty: Easy
4. PEST stands for ________.
A. patents, economies, sales, technology
B. persistence, earnings, sales, technologies
C. political, economic, sociocultural, technological*
D. political, earnings, sociocultural, trademarks
Difficulty: Easy
5. At which stage in the business cycle are resources most scarce?
A. decline
B. maturity
C. rapid growth
D. startup*
Page 1 of 10
, OpenStax Entrepreneurship Test Bank
Chapter 14: Fundamentals of Resource Planning
Difficulty: Easy
6. Which of the following is a good starting point for developing a job description?
A. advertising on a job search website
B. determining the skills and experience the team should have*
C. deciding how many employees you might need
D. setting the hours of operation
Difficulty: Moderate
7. All of the following are political factors to consider except ________.
A. environmental laws
B. inflation*
C. insurance costs
D. tax laws
Difficulty: Difficult
8. Which of the following refers to limiting the number of items entering a country?
A. inflation
B. quota*
C. tariffs
D. trademark
Difficulty: Easy
9. Intangible resources are ________.
A. assets that cannot be seen, touched, or felt*
B. assets that have a physical form
C. monetary resources necessary to start and operate a business
D. the amount of money that a bank allows a business to borrow on demand
Difficulty: Easy
10. Which of the following is (are) the cost(s) of all the resources needed to open the business to
the public?
A. funding sources
B. line of credit
C. pre-launch costs*
D. tariffs
Difficulty: Easy
11. How can SCORE contribute to the needed resources for the entrepreneur?
A. SCORE provides monetary contributions.
B. SCORE provides qualified employees.
Page 2 of 10
Chapter 14: Fundamentals of Resource Planning
Chapter 14: Fundamentals of Resource Planning
* = Correct answer
Multiple Choice/Fill in the Blank
1. Assets that have a physical form are called ________.
A. intangible
B. intellectual property
C. necessary
D. tangible*
Difficulty: Easy
2. All of the following are examples tangible resources except ________.
A. computers
B. raw materials
C. trademarks*
D. vehicles
Difficulty: Easy
3. Which of the following is a word, phrase, symbol, or graphic that identifies the origin or
source of a service?
A. copyright
B. patent
C. service mark*
D. trademark
Difficulty: Easy
4. PEST stands for ________.
A. patents, economies, sales, technology
B. persistence, earnings, sales, technologies
C. political, economic, sociocultural, technological*
D. political, earnings, sociocultural, trademarks
Difficulty: Easy
5. At which stage in the business cycle are resources most scarce?
A. decline
B. maturity
C. rapid growth
D. startup*
Page 1 of 10
, OpenStax Entrepreneurship Test Bank
Chapter 14: Fundamentals of Resource Planning
Difficulty: Easy
6. Which of the following is a good starting point for developing a job description?
A. advertising on a job search website
B. determining the skills and experience the team should have*
C. deciding how many employees you might need
D. setting the hours of operation
Difficulty: Moderate
7. All of the following are political factors to consider except ________.
A. environmental laws
B. inflation*
C. insurance costs
D. tax laws
Difficulty: Difficult
8. Which of the following refers to limiting the number of items entering a country?
A. inflation
B. quota*
C. tariffs
D. trademark
Difficulty: Easy
9. Intangible resources are ________.
A. assets that cannot be seen, touched, or felt*
B. assets that have a physical form
C. monetary resources necessary to start and operate a business
D. the amount of money that a bank allows a business to borrow on demand
Difficulty: Easy
10. Which of the following is (are) the cost(s) of all the resources needed to open the business to
the public?
A. funding sources
B. line of credit
C. pre-launch costs*
D. tariffs
Difficulty: Easy
11. How can SCORE contribute to the needed resources for the entrepreneur?
A. SCORE provides monetary contributions.
B. SCORE provides qualified employees.
Page 2 of 10
