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Business Knowledge Quiz

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Questions and Answers

What is the primary origin of the word 'entrepreneur'?

Latin

Greek

French (correct)

Italic

What is the main purpose of a SWOT analysis in business?

To measure customer satisfaction and loyalty

To assess internal and external factors affecting a business (correct)

To evaluate the financial health of a company

To identify strengths and weaknesses within the competition

Which financial statement provides information about a company's profitability over a specific period?

Balance sheet

Statement of retained earnings

Income statement (correct)

Cash flow statement

What could provide an individual with the motivation to start a new business venture?

A desire to be independent Signup and view all the answers

In the context of marketing, what is the purpose of the 'marketing mix' (4Ps)?

To plan and implement a marketing strategy Signup and view all the answers

What is the primary focus of entrepreneurship?

Creating new products or services and adding value Signup and view all the answers

Where can entrepreneurs obtain information about competitors?

Websites and company reports Signup and view all the answers

What is the primary purpose of the 'marketing mix' (4Ps)?

Planning and implementing a marketing strategy Signup and view all the answers

What does entrepreneurship involve in terms of risk?

Taking significant risks in a business context Signup and view all the answers

What is a key aspect of successful entrepreneurship?

Innovating and adapting to market needs Signup and view all the answers