This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Entrepreneurship Chapter 7 Managing A Growing Enterprise – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Entrepreneurship Chapter 7 Managing A Growing Enterprise Quiz 4 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is a benefit of the "freedom to choose your own job?" A) People are more productive and happier. B) People can afford to make money off the land they own. C) Better Quality Items at Lower Cost. D) Motivates people to work hard. Show Answer Correct Answer: A) People are more productive and happier. 2. Constitutional protection of one's property comes from: A) 13th amendment. B) 1st amendment. C) 16th amendment. D) 14th amendment. Show Answer Correct Answer: D) 14th amendment. 3. TRUE or FALSE:The American economy allows individuals to purchase what they want, work where they want, and change jobs when they want. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 4. Who are those managers responsible for supervising the work of employees? A) Middle managers. B) First-line managers. C) Top managers. D) Operations managers. E) Floor managers. Show Answer Correct Answer: B) First-line managers. 5. What does a free enterprise system promote according to the learning material? A) Monopolies in the market. B) Stagnation of product development. C) A constant supply of newer and better products. D) Decreased competition in the cell phone market. Show Answer Correct Answer: C) A constant supply of newer and better products. 6. What is the opposite of a free enterprise economy? A) Planned economy. B) Mixed economy. C) Command economy. D) Socialist economy. Show Answer Correct Answer: C) Command economy. 7. Government financed agencies are ..... A) Public Sector. B) Private Sector. C) Derived Demand. D) Retailers. Show Answer Correct Answer: A) Public Sector. 8. In a free enterprise system, the government places ..... restrictions on businesses and citizens A) Minimum. B) Maximum. C) Normal. D) Abnormal. Show Answer Correct Answer: A) Minimum. 9. What is a major advantage of incorporating an equine business? A) Fewer state laws affect corporations than other types of businesses. B) It costs to do business in the form of a corporation. C) One person has sole responsibility for the corporation. D) There is limited liability for businesses that are incorporated. Show Answer Correct Answer: D) There is limited liability for businesses that are incorporated. 10. One of the ways that the government intervenes in a free enterprise system is through ..... A) Protecting public safety by ensuring vehicle safety/emissions standards. B) Setting prices for certain goods. C) Setting fixed output quantities for companies. D) Setting wage levels. Show Answer Correct Answer: A) Protecting public safety by ensuring vehicle safety/emissions standards. 11. Which is NOT an "intermediary" in a distribution channel? A) Wholesaler. B) Retailer. C) Importers. D) Producers. Show Answer Correct Answer: D) Producers. 12. One of the characteristics of a capitalist free enterprise economy is ..... A) Minimum Wage. B) Consumerism. C) Voluntary Exchange. D) CentralPlanning. Show Answer Correct Answer: C) Voluntary Exchange. 13. Free contract means that people can chose A) For themselves what legal agreements to enter into. B) For themselves what positive externalities to support. C) To enter and compete in the marketplace. D) To enter into open opportunities. Show Answer Correct Answer: A) For themselves what legal agreements to enter into. 14. Businesses that use raw materials to create goods are called: A) Extractors. B) Tertiary. C) Manufacturers. D) Wholesalers. Show Answer Correct Answer: C) Manufacturers. 15. Which of the following describes social pressures on an enterprise? A) Government and local councils have an influence on how an enterprise operate. B) Communities, customers, business owners have an influence on how an enterprise operates. C) The impact that having a poor year has on an enterprise's employees. D) None of the above. Show Answer Correct Answer: B) Communities, customers, business owners have an influence on how an enterprise operates. 16. True or False. Macroeconomics looks at the behavior and decision making of the entire economy. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 17. Which of the following choices is a NEGATIVE impact of inflation? A) Reduces unemployment. B) Strengthens currency. C) Lowers cost of borrowing money. D) Bills are harder to pay and planning for the future is more difficult. Show Answer Correct Answer: D) Bills are harder to pay and planning for the future is more difficult. 18. What do you call the added cost, you have to pay back, when you borrow money? A) Savings. B) Interest. C) Surplus. D) None of the above. Show Answer Correct Answer: B) Interest. 19. Define wholesaler: A) A business or industry that is managed by independent companies or private individuals rather than by the state. B) A business owned fully or in part by the government. C) A business that buys products from wholesalers then increases the price of the goods to resell them. D) A business that purchases a vast amount of goods from manufacturers to sell them to other businesses. Show Answer Correct Answer: D) A business that purchases a vast amount of goods from manufacturers to sell them to other businesses. 20. A restaurant uses a ..... distribution channel. A) Indirect. B) Direct. C) Specialty. D) None of the above. Show Answer Correct Answer: B) Direct. 21. Private enterprise is based on the idea that everyone is better served when A) Businesses regularly increase their prices. B) Individuals are free to set their own goals. C) Government determines where individuals will work. D) Economic resources are controlled by the government. Show Answer Correct Answer: B) Individuals are free to set their own goals. 22. I work 66 hours how many hours is overtime? A) 16. B) 36. C) 26. D) 46. Show Answer Correct Answer: C) 26. 23. What is the primary goal of a free enterprise system? A) To ensure equal distribution of wealth. B) To maximize individual profit. C) To eliminate competition. D) None of the above. Show Answer Correct Answer: B) To maximize individual profit. 24. One indication that too many horses are being kept at a boarding stable is: A) Clean, fresh water supplied in several troughs. B) Evidence of overcrowding on pastures. C) Several stalls in one barn. D) Stalls with lots of clean bedding. Show Answer Correct Answer: B) Evidence of overcrowding on pastures. 25. The wise use of scarce resources & factors of production describes which of the 7 major economic goals of free enterprise? A) Economic growth. B) Economic efficiency. C) Full employment. D) Economic freedom. Show Answer Correct Answer: B) Economic efficiency. ← PreviousNext →Related QuizzesClass 12 Entrepreneurship Chapter 7 Managing A Growing Enterprise Quiz 1Class 12 Entrepreneurship Chapter 7 Managing A Growing Enterprise Quiz 2Class 12 Entrepreneurship Chapter 7 Managing A Growing Enterprise Quiz 3Class 12 Entrepreneurship Chapter 7 Managing A Growing Enterprise Quiz 5Class 12 Entrepreneurship Chapter 7 Managing A Growing Enterprise Quiz 6Class 12 Entrepreneurship Chapter 7 Managing A Growing Enterprise Quiz 7Class 12 Entrepreneurship Chapter 7 Managing A Growing Enterprise Quiz 8Class 12 Entrepreneurship Chapter 7 Managing A Growing Enterprise Quiz 9Class 12 Entrepreneurship Chapter 7 Managing A Growing Enterprise Quiz 10Class 12 Entrepreneurship Chapter 7 Managing A Growing Enterprise Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books