{"id":5153,"date":"2023-02-22T21:06:39","date_gmt":"2023-02-22T21:06:39","guid":{"rendered":"https:\/\/course.oeru.org\/ient101\/?page_id=5153"},"modified":"2023-02-22T21:06:39","modified_gmt":"2023-02-22T21:06:39","slug":"quiz","status":"publish","type":"page","link":"https:\/\/course.oeru.org\/ient101\/learning-pathways\/entrepreneurs-as-small-business-owners\/quiz\/","title":{"rendered":"Quiz"},"content":{"rendered":"<div id=\"content\" class=\"mw-body container\" role=\"main\">\n<div class=\"row\">\n<div class=\"col-md-12\">\n<div class=\"panel\">\n<div class=\"panel-body\">\n<div id=\"bodyContent\">\n<div id=\"mw-content-text\" lang=\"en\" dir=\"ltr\" class=\"mw-content-ltr\">\n<p>\n<\/p>\n<div class=\"floatright\"><a href=\"https:\/\/wikieducator.org\/File:Test_sign.jpg\" class=\"image\"><img loading=\"lazy\" decoding=\"async\" alt=\"Test sign.jpg\" src=\"\/\/wikieducator.org\/images\/thumb\/e\/eb\/Test_sign.jpg\/320px-Test_sign.jpg\" width=\"320\" height=\"226\" class=\"img-responsive\"><\/a><\/div>\n<p>The questions which follow provide a basic knowledge test of selected concepts covered in this learning pathway: <i>Entrepreneurs as small business owners<\/i>.<\/p>\n<p>The questions published at the end of each learning pathway are re-used for the knowledge test for learners interested in earning a digital badge or certificate of participation for the <i>Introduction to entrepreneurship<\/i> (IENT101) micro-course. Please consult the <a href=\"https:\/\/wikieducator.org\/Introduction_to_entrepreneurship\/IENT101\/Assessment\/Certify_participation\" title=\"Introduction to entrepreneurship\/IENT101\/Assessment\/Certify participation\">Certify participation page<\/a> for more information.<br style=\"clear:both;\">\n<\/p>\n<div class=\"panel iDevice WEquizMultipleChoice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"assessment\" src=\"https:\/\/course.oeru.org\/ient101\/wp-content\/themes\/oeru_course\/idevices\/Icon_qmark.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>True - false questions<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t\n<p>Indicate whether the following statements are true or false:\n<\/p>\n<ul>\n<li>Most small businesses are publicly owned.\n<ul>\n<li>True\n<ul>\n<li>That is not the right answer.\n<\/li>\n<\/ul>\n<\/li>\n<li>False\n<ul>\n<li>Well done &#8211; you are right.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Small business owners usually have someone else managing their business, so that they can focus on strategy.\n<ul>\n<li>True\n<ul>\n<li>That is not the right answer.\n<\/li>\n<\/ul>\n<\/li>\n<li>False\n<ul>\n<li>Well done &#8211; that statement is false.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Small business owners and entrepreneurs generally have different leadership styles.\n<ul>\n<li>True\n<ul>\n<li>Yes, this statement is true.\n<\/li>\n<\/ul>\n<\/li>\n<li>False\n<ul>\n<li>Think again &#8211; this statement is true.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Small businesses help contribute to their local community.\n<ul>\n<li>True\n<ul>\n<li>Well done.\n<\/li>\n<\/ul>\n<\/li>\n<li>False\n<ul>\n<li>Incorrect &#8211; this statement is true.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>The financial risks are low for small business owners.\n<ul>\n<li>True\n<ul>\n<li>This statement is not true &#8211; the financial risks are often high for small business owners.\n<\/li>\n<\/ul>\n<\/li>\n<li>False\n<ul>\n<li>Well done &#8211; this statement is false.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div><\/p>\n<p>\n<\/p>\n<div class=\"panel iDevice WEquizMultipleChoice WEquizMix\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"assessment\" src=\"https:\/\/course.oeru.org\/ient101\/wp-content\/themes\/oeru_course\/idevices\/Icon_qmark.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Multiple choice questions<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t\n<ul>\n<li>Which ONE of these is an advantage of small business ownership?\n<ul>\n<li>Time\n<ul>\n<li>This is unlikely! Running your own business is very time-consuming.\n<\/li>\n<\/ul>\n<\/li>\n<li>You\u2019ll enjoy every aspect of your work\n<ul>\n<li>No, try again. As a small business owner, there may be many aspects of your role that you won\u2019t enjoy, such as hiring and firing people, or keeping company accounts.\n<\/li>\n<\/ul>\n<\/li>\n<li>Learning opportunities\n<ul>\n<li>Yes, that\u2019s right. Running your own business provides many learning opportunities.\n<\/li>\n<\/ul>\n<\/li>\n<li>Stress-free lifestyle\n<ul>\n<li>No, not really &#8211; although being your own boss can be an enjoyable lifestyle for many people, there are also multiple things to think about, and you are responsible for everything.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>SWOT stands for:\n<ul>\n<li>Saving, Working, Owning, Trading\n<ul>\n<li>No, try again.\n<\/li>\n<\/ul>\n<\/li>\n<li>Strengths, Weaknesses, Opportunities, Threats\n<ul>\n<li>Yes, that\u2019s right. Analysing these things can help you to identify internal and external factors that could affect your business.\n<\/li>\n<\/ul>\n<\/li>\n<li>Sales, Wages, Objectives, Targets\n<ul>\n<li>No, try again.\n<\/li>\n<\/ul>\n<\/li>\n<li>Safety, Workforce, Organisation, Training\n<ul>\n<li>No, try again.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Why is a SWOT analysis important? (Select the most correct option.)\n<ul>\n<li>It\u2019s the first thing potential investors will want to see\n<ul>\n<li>This is partially true. Potential investors will want to see a business plan, which may refer to strategies based on your SWOT analysis.\n<\/li>\n<\/ul>\n<\/li>\n<li>It allows you to share information easily with your customers\n<ul>\n<li>No, try again.\n<\/li>\n<\/ul>\n<\/li>\n<li>It prioritises issues for you\n<ul>\n<li>No, it can help you identify issues, but it is up to you to determine what your priorities are.\n<\/li>\n<\/ul>\n<\/li>\n<li>It helps you develop\/improve your business strategy and assess any changes in the business environment\n<ul>\n<li>Yes, that\u2019s right. You can conduct a SWOT analysis at any point as a business owner &#8211; it\u2019s something you should do at least once a year.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Indicate which ONE of the following statements about SWOT analysis is FALSE:\n<ul>\n<li>Strengths and Weaknesses are considered as internal factors\n<ul>\n<li>This is true; these are internal to the company (factors like location and reputation).\n<\/li>\n<\/ul>\n<\/li>\n<li>Opportunities and Threats can be either internal or external\n<ul>\n<li>This is false. Opportunities and threats are external factors; things that you cannot change.\n<\/li>\n<\/ul>\n<\/li>\n<li>It is a good idea for a group of people to conduct a SWOT analysis, rather than just one person\n<ul>\n<li>Yes, this is true. Multiple perspectives and insights (e.g. from management, stakeholders, and customers) can be very valuable in a SWOT analysis.\n<\/li>\n<\/ul>\n<\/li>\n<li>Assets belonging to the company, without outstanding debt, are normally considered \u2018Strengths\u2019 in a SWOT analysis\n<ul>\n<li>This is true. Assets include capital, patents, fixed and moveable property, and can be sold to improve liquidity.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div><\/p>\n<p>\n<\/p>\n<p><!-- \nNewPP limit report\nCPU time usage: 0.057 seconds\nReal time usage: 0.064 seconds\nPreprocessor visited node count: 280\/1000000\nPreprocessor generated node count: 1206\/1000000\nPost\u2010expand include size: 27159\/2097152 bytes\nTemplate argument size: 18472\/2097152 bytes\nHighest expansion depth: 10\/40\nExpensive parser function count: 0\/100\n--><\/p>\n<p><!-- Saved in parser cache with key we_en-mw_:pcache:idhash:185305-0!*!0!*!*!2!* and timestamp 20230222021442 and revision id 1066139\n -->\n<\/div>\n<div class=\"visualClear\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-md-12\">\n<ul class=\"pager\">\n<li class=\"previous\">\n            <a href=\"\/ient101\/learning-pathways\/entrepreneurs-as-small-business-owners\/outputs-small-business-swot-challenge\">\u2190 Previous<\/a>\n          <\/li>\n<li class=\"next\">\n            <a href=\"\/ient101\/learning-pathways\/before-starting-your-own-business\/overview\">Next \u2192<\/a>\n          <\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<div id=\"wenote-ids\"><script type='text\/javascript' id='wenotes-ids'>\n    var WEnotesSite = \"https:\/\/wikieducator.org\";\n    var WEnotesPath = \"\/Introduction_to_entrepreneurship\/IENT101\/Small_business\/Quiz\";\n    var WEnotesSiteID = \"0e3d258fbd36841f92259eefcd41d5e9\";\n    var WEnotesPathID = \"36f283eb9879f7cc5d8af455255b333e\";\n    var WEnotesIDs = { site: \"https:\/\/wikieducator.org\", path: \"\/Introduction_to_entrepreneurship\/IENT101\/Small_business\/Quiz\", site_id: \"0e3d258fbd36841f92259eefcd41d5e9\", path_id: \"36f283eb9879f7cc5d8af455255b333e\" };\n<\/script><\/div>\n<\/div>\n<footer><\/footer>\n","protected":false},"excerpt":{"rendered":"<p>The questions which follow provide a basic knowledge test of selected concepts covered in this learning pathway: Entrepreneurs as small business owners. The questions published at the end of each learning pathway are re-used for the knowledge test for learners interested in earning a digital badge or certificate of participation for the Introduction to entrepreneurship [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":5133,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-5153","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/comments?post=5153"}],"version-history":[{"count":1,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5153\/revisions"}],"predecessor-version":[{"id":5154,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5153\/revisions\/5154"}],"up":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5133"}],"wp:attachment":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/media?parent=5153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}