This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 2 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Refers to the words and symbols such as a name, logo, and slogan that represent a business' identity A) Pitch. B) Brand. C) Innovation. D) Marketing. Show Answer Correct Answer: B) Brand. 2. Characteristics of successful entrepreneurs include: A) Grit. B) Submission. C) Self-importance. D) Short attention span. Show Answer Correct Answer: A) Grit. 3. What is the primary goal of risk management in a business? A) To eliminate all risks. B) To identify and minimise potential risks. C) To increase risks. D) To ignore risks. Show Answer Correct Answer: B) To identify and minimise potential risks. 4. Charlie and Grace are starting a new business. What is a key skill they need to succeed in entrepreneurship? A) Avoiding risks at all costs. B) Problem-solving. C) Following trends. D) Delegating all tasks. Show Answer Correct Answer: B) Problem-solving. 5. What can unethical behavior lead to? A) It can lead to business failure and a loss of trust in the system. B) It can lead to business success but a loss of trust in the system. C) It can lead to business failure but loss of trust in the system. D) None of the above. Show Answer Correct Answer: A) It can lead to business failure and a loss of trust in the system. 6. Some businesses remain small because the owner does not want it to expand A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 7. What is a key advantage of conducting market research before launching a product? A) To increase production costs. B) To understand market demand. C) To reduce product quality. D) To ignore customer feedback. Show Answer Correct Answer: B) To understand market demand. 8. What do we call a person who is willing to take the risks of starting a business in order to make a profit? A) Proprieter. B) Partner. C) Entrepreneur. D) Incorporater. Show Answer Correct Answer: C) Entrepreneur. 9. When entrepreneurs spot an opportunity to trade and make a difference to society? A) Business enterprise. B) Trade enterprise. C) Organic enterprise. D) Social enterprise. Show Answer Correct Answer: D) Social enterprise. 10. A reward for running your own business is ..... A) Suppliers might not deliver the goods to when you need them. B) Machinery might break down. C) You could lose money. D) You can't get fired. Show Answer Correct Answer: D) You can't get fired. 11. What do entrepreneurs combine to produce goods and services? A) Only natural resources. B) Only human resources. C) Natural, human, and capital resources. D) Only capital resources. Show Answer Correct Answer: C) Natural, human, and capital resources. 12. Any activity a business does to try and contact potential customers A) Marketing. B) Business Plan. C) Networking. D) Entrepreneur. Show Answer Correct Answer: A) Marketing. 13. Which of the following is an advantage of sole proprietorships: A) Limited liability. B) Unlimited financial power. C) Dual taxation. D) Quick decision making. Show Answer Correct Answer: D) Quick decision making. 14. What role does government play in a free enterprise system? A) It does not interfere at all with businesses. B) It controls the pricing of all goods and services. C) It ensures fair practices and protects property rights. D) It owns and operates all major industries. Show Answer Correct Answer: C) It ensures fair practices and protects property rights. 15. Entrepreneurial problem solvers exhibit the following behaviors: A) Comfort performing under pressure. B) Ability to forget important details. C) Loyalty to standard practices. D) Comfort conceding defeat. Show Answer Correct Answer: A) Comfort performing under pressure. 16. True or False:All business ideas must start with a brand new idea if they are to be successful A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 17. An entrepreneur can choose to have which type of business organization? A) Sole Proprietorship. B) Partnership. C) Corporation. D) All of the above. Show Answer Correct Answer: D) All of the above. 18. Food manufacturing is which sector? A) Primary Sector. B) Secondary Sector. C) Tertiary Sector. D) None of the above. Show Answer Correct Answer: B) Secondary Sector. 19. Cash or securities that can be immediately turned into cash, which can then repay any loan amount outstanding. A) Mortgage. B) Commissions. C) Assets. D) Liquid assets. Show Answer Correct Answer: D) Liquid assets. 20. What is the trade-off that every entrepreneur must sacrifice, except ..... A) Overtime work. B) Have more time. C) Will lost monthly income/salary. D) Need a lot of capital/money. Show Answer Correct Answer: B) Have more time. 21. Which region did factories develop in the United States? A) In the South. B) In the West. C) In the Northeast. D) In the Southwest. Show Answer Correct Answer: C) In the Northeast. 22. Entrepreneurs play a crucial role in the economy by: A) Creating jobs. B) Reducing competition. C) Increasing unemployment. D) Limiting innovation. Show Answer Correct Answer: A) Creating jobs. 23. Enterprise will require work both in class and during lunchtimes. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 24. What is meant by social enterprise? A) Aims to achieve the highest profits for shareholders. B) A social enterprise is owned by one person. C) A social enterprise has ethical considerations at his heart, for the benefit of society. D) A social enterprise is two or more people working together. Show Answer Correct Answer: C) A social enterprise has ethical considerations at his heart, for the benefit of society. 25. What is CSR? A) Corporate Social Responsibility. B) Company Suitability Requirements. C) Customer Saving Request. D) None of the above. Show Answer Correct Answer: A) Corporate Social Responsibility. ← PreviousNext →Related QuizzesClass 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 1Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 3Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 4Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 5Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 6Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 7Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 8Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 9Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 10Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books