This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise – Quiz 8 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 8 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is an organisation called if it is controlled by all it's members? A) Corporation. B) International. C) Magnate. D) Cooperative. Show Answer Correct Answer: D) Cooperative. 2. Which of the following is a characteristic of a successful business leader? A) Indecisiveness. B) Strong communication skills. C) Inability to adapt. D) Disregard for team input. Show Answer Correct Answer: B) Strong communication skills. 3. Amber and Dan are discussing the significance of using new technologies in their enterprise. What is the main benefit they are likely to experience? A) To increase operational costs. B) To maintain traditional methods. C) To enhance efficiency and innovation. D) To complicate processes. Show Answer Correct Answer: C) To enhance efficiency and innovation. 4. Which of the following is an example of the role of an entrepreneur? A) Producing goods or services. B) Meeting customer needs. C) Organising resources. D) Offering customer convenience. Show Answer Correct Answer: C) Organising resources. 5. Charlie and Lillie are working on a new business idea. What is the role of creativity in their enterprise? A) To replicate existing products. B) To meet customers' needs and aspirations. C) To reduce costs. D) To avoid risks. Show Answer Correct Answer: B) To meet customers' needs and aspirations. 6. An example of a WANT is A) Water. B) Clothing. C) TV. D) Shelter. Show Answer Correct Answer: C) TV. 7. The most important difference between social enterprises and profit-seeking businesses is: A) Social enterprises never aim to make a profit. B) Social enterprises will have objectives other than profit. C) Profit-seeking businesses will always make a profit. D) Social enterprises do not sell goods and services but profit seeking businesses do. Show Answer Correct Answer: B) Social enterprises will have objectives other than profit. 8. Compared to a bank loan, an online loan is: A) Less expensive (lower interest rate). B) Much easier to obtain. C) Only for companies in certain industries. D) Approximately equal in terms of interest rates. Show Answer Correct Answer: B) Much easier to obtain. 9. Social enterprises are known for dealing with what kinds of issues? A) Educational. B) World hunger & poverty. C) Social & environmental. D) Business. Show Answer Correct Answer: C) Social & environmental. 10. Which of the following is a benefit of being an entrepreneur? A) Guaranteed success. B) Flexible working hours. C) No financial risks. D) No need for planning. Show Answer Correct Answer: B) Flexible working hours. 11. Identify the natural resources that are being exploited in the primary sector? (REM) A) Agriculture. B) Fishing. C) Forestry. D) All the above. Show Answer Correct Answer: D) All the above. 12. Governments can help new start up businesses by offering advice and support sessions to entrepreneurs A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 13. Which of the following is a non-financial risk for a business? A) Economic recession. B) Poor customer service. C) High interest rates. D) Exchange rate fluctuations. Show Answer Correct Answer: B) Poor customer service. 14. What is meant by a commercial risk? A) Businesses rely on equipment 24/7. If this breaks down this leads to lower production and repair costs. B) Setting up a business can mean you lose your own or the banks money. C) It is critical that suppliers supply equipment to businesses. Customers need to pay for goods/services. D) Blockbusters failed to address the threat of Netflix as they had no digital content available online. Show Answer Correct Answer: C) It is critical that suppliers supply equipment to businesses. Customers need to pay for goods/services. 15. In order to make its products stand our from those of its competitors, a small chocolate manufacturer produces organic, gluten free chocolate bars. This is classed as adding value through: A) Customer service. B) A unique selling point. C) Branding. D) Convenience. Show Answer Correct Answer: B) A unique selling point. 16. In a free enterprise system, the spending habits of ..... determine which products and services to offer: A) Consumers. B) Government. C) Professors. D) Politicians. Show Answer Correct Answer: A) Consumers. 17. One advantage of establishing a new company as some type of a corporation is: A) Reduces paperwork the owners have to complete. B) Guarantees the company will be profitable. C) Guarantees higher revenues. D) Ability to shield owners from liabilities of or judgments against the company. Show Answer Correct Answer: D) Ability to shield owners from liabilities of or judgments against the company. 18. A charity will need to be selected as part of this course. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 19. What is a cashflow? A) The amount of cash which the company receives or gives out by the way of payment(s) to creditors. B) The amount of cash which the company receives. C) The amount of cash which the company moves into another business. D) None of the above. Show Answer Correct Answer: A) The amount of cash which the company receives or gives out by the way of payment(s) to creditors. 20. It is a business whose primary objective is to serve a purpose that has a positive social impact. A) Entrepreneurship. B) Social Enterprise. C) Social Entrepreneurship. D) Business Administration. Show Answer Correct Answer: B) Social Enterprise. 21. What is a common method for a business to gain a competitive advantage? A) Offering lower quality products. B) Providing unique value to customers. C) Ignoring customer feedback. D) Increasing prices without reason. Show Answer Correct Answer: B) Providing unique value to customers. 22. Which of these is NOT a social enterprise A) The Eden Project. B) Cancer Research UK. C) Fifteen. D) The Big Issue. Show Answer Correct Answer: B) Cancer Research UK. 23. If more than one person sells similar products to consumers, how do consumers benefit? A) The price of the product will most likely go up. B) The quality of the product will remain the same. C) The amount of goods available will be lower. D) The price of the product will most likely go down. Show Answer Correct Answer: D) The price of the product will most likely go down. 24. A ..... is not usually one of the contents of a business plan A) Description of the market. B) Description of the physical location. C) Job description. D) Cash flow forecast. Show Answer Correct Answer: C) Job description. 25. Other types of debt that you owe someone other than a mortgage A) Notes payable. B) Liquid assets. C) Lien. D) Securities. Show Answer Correct Answer: A) Notes payable. ← PreviousNext →Related QuizzesClass 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 1Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 2Class 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 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