Entrepreneur and Economic Growth Quiz Question and Answer

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  • 1/10 Questions

    What does inflation in the economy mean?

    • To fill with air or gas
    • To release gas from an object
    • A general increase in the price of goods and services
    • To release the cost of production
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About This Quiz

What do you know about entrepreneurship and economic growth? Try this entrepreneur and economic growth quiz with questions and answers to test your updated knowledge. Here, we have got a list of questions on entrepreneurship and economic growth, where you can see how much you know and what new you need to learn. This quiz is helpful for those who wish to become an entrepreneur and have knowledge of economics. All the best for a perfect score on this quiz.

Entrepreneur And Economic Growth Quiz Question And Answer - Quiz

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  • 2. 

    What does entrepreneurship mean?

    • The willingness and innovation needed to risk demolishing a business

    • The willingness and innovation needed for inflation

    • The willingness to earn money

    • The willingness and innovation needed to risk starting a business

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  • 3. 

    What is the measure of the efficiency of the production of goods and services called?

    • Unemployment

    • Productivity

    • Specialization

    • GDP

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  • 4. 

    Unlimited liability for all debts and obligations is a ______ of Sole Proprietorship.

    • Advantage

    • Disadvantage

    • Profit

    • Necessity

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  • 5. 

    A corporation is a business owned by _________ and managed by ______ and __________.

    • Shareholders; Dictators; Executives

    • Dictators; Shareholders; Executives

    • Directors; Shareholders; Executives

    • Shareholders; Directors; Executives

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  • 6. 

    Which of the following determines the rate of unemployment?

    • The number of people over 16 who do not have a job but are actively seeking employment.

    • The number of people over 18 who do not have a job but are not actively seeking employment.

    • The number of people over 15 who do not have a job but are not actively seeking employment.

    • The number of people over 10 who do not have a job but are not actively seeking employment.

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  • 7. 

    What is the 'responsibility' of a business?

    • Engage in fair labor practices and fair competition.

    • Participate in markets for the purpose of exchanging goods and services.

    • Both 

    • None

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  • 8. 

    What is the 'right' of a business in economic terms?

    • Engage in fair labor practices and fair competition.

    • Participate in markets for the purpose of exchanging goods and services.

    • Both

    • None

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  • 9. 

    Which of the following is NOT an economic indicator?

    • Equilibrium Price

    • Unemployment

    • GDP

    • Retail Sales

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  • 10. 

    Which of the following is NOT the cost of the purchase, use, and disposal of personal and business property?

    • Potential profit at sale

    • Associated cost with the upkeep of the property

    • Possible loss of value of property and loss at the time of sale

    • Opportunity cost of what was not purchased

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  • Current Version
  • Aug 16, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Nov 14, 2022
    Quiz Created by
    Sophia Smith
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