Entrepreneurship Test Study Guide Questions And Correct Answers

Which of the following is NOT a creative thinking exercise entrepreneurs use to generate ideas? {Ans: Judge Each Idea as Realistic or Not}Which of the following is NOT a true statement about business plans? {Ans: They should never be revised}What is the definition of an entrepreneur? {Ans: An entrepreneur is someone who creates a business and potentially makes money and runs the business.}Which of the following are assests? {Ans: Time/Car/Money}__________________ are the operating expenses that a business must pay regardless of how many sales are made. {Ans: Fixed Operating Expenses}What is the main difference between a personal characteristic and a skill? {Ans: Skills can be learned while characteristics are inherent qualities}Which of the following ensures a good idea for a business is an actual business opportunity? {Ans: The idea solves a unique need or want in the market that a group of customers is willing to buy.}What role do entrepreneurs play in economics? {Ans: Entrepreneurs create the businesses that produce products that meet the wants and needs of consumers}___________ is a potential group of customers, people, or businesses that are able and willing to purchase a particular product or service. {Ans: