ENT 101 — WEEK 5 QUIZ
Introduction to Entrepreneurship
Toronto Metropolitan University | 2026 Update
Total Time: 30 Minutes | Total Points: 25
SECTION A: Multiple Choice — 15 Questions (1 point each)
1. The Business Model Canvas (BMC) is a strategic tool that visualizes a business
model through how many building blocks?
A) 6
B) 7
C) 9
D) 12
2. A startup in the Distillery District sells handcrafted leather goods directly to
consumers through its own website and pop-up shops at Toronto markets. This
describes which element of the Business Model Canvas?
A) Key Partnerships
B) Channels
C) Customer Relationships
D) Key Activities
3. FreshBooks, a Toronto-based accounting software company, generates most of
its revenue through monthly subscription fees rather than one-time purchases.
This is an example of which revenue stream type?
A) Transactional
B) Licensing
C) Recurring (subscription)
D) Freemium
4. Which of the following is classified as a FIXED cost for a new restaurant
opening on Queen Street West?
, A) Cost of ingredients per meal
B) Monthly rent
C) Packaging costs per order
D) Delivery fees per transaction
5. A startup in TMU's DMZ incubator partners with a cloud computing provider to
host its platform at a discounted rate. This type of partnership is best described
as:
A) Strategic alliance between non-competitors
B) Joint venture
C) Buyer-supplier relationship
D) Coopetition
6. Which pricing strategy involves setting a low initial price to quickly gain market
share and discourage competitors from entering the market?
A) Cost-plus pricing
B) Value-based pricing
C) Penetration pricing
D) Skimming pricing
7. Shopify, founded in Ottawa but with a massive Toronto presence, provides e-
commerce tools to businesses of all sizes. Shopify primarily serves which
customer segment?
A) Niche market (B2C)
B) Mass market (B2B)
C) Segmented market (B2C)
D) Diversified market (B2B and B2C)
8. In the Business Model Canvas, "Key Resources" does NOT include which of
the following?
A) Physical resources (e.g., equipment, facilities)
B) Intellectual property (e.g., patents, brand)
C) Customer feedback surveys
Introduction to Entrepreneurship
Toronto Metropolitan University | 2026 Update
Total Time: 30 Minutes | Total Points: 25
SECTION A: Multiple Choice — 15 Questions (1 point each)
1. The Business Model Canvas (BMC) is a strategic tool that visualizes a business
model through how many building blocks?
A) 6
B) 7
C) 9
D) 12
2. A startup in the Distillery District sells handcrafted leather goods directly to
consumers through its own website and pop-up shops at Toronto markets. This
describes which element of the Business Model Canvas?
A) Key Partnerships
B) Channels
C) Customer Relationships
D) Key Activities
3. FreshBooks, a Toronto-based accounting software company, generates most of
its revenue through monthly subscription fees rather than one-time purchases.
This is an example of which revenue stream type?
A) Transactional
B) Licensing
C) Recurring (subscription)
D) Freemium
4. Which of the following is classified as a FIXED cost for a new restaurant
opening on Queen Street West?
, A) Cost of ingredients per meal
B) Monthly rent
C) Packaging costs per order
D) Delivery fees per transaction
5. A startup in TMU's DMZ incubator partners with a cloud computing provider to
host its platform at a discounted rate. This type of partnership is best described
as:
A) Strategic alliance between non-competitors
B) Joint venture
C) Buyer-supplier relationship
D) Coopetition
6. Which pricing strategy involves setting a low initial price to quickly gain market
share and discourage competitors from entering the market?
A) Cost-plus pricing
B) Value-based pricing
C) Penetration pricing
D) Skimming pricing
7. Shopify, founded in Ottawa but with a massive Toronto presence, provides e-
commerce tools to businesses of all sizes. Shopify primarily serves which
customer segment?
A) Niche market (B2C)
B) Mass market (B2B)
C) Segmented market (B2C)
D) Diversified market (B2B and B2C)
8. In the Business Model Canvas, "Key Resources" does NOT include which of
the following?
A) Physical resources (e.g., equipment, facilities)
B) Intellectual property (e.g., patents, brand)
C) Customer feedback surveys
