Mini-Quiz: Basic Types of Entrepreneurial Enterprises

1. What is the biggest risk in starting up a new business?

   Your assumption of the demand for your product or service may be invalidThat is correct. You understand about starting a business. Someone will steal your ideaGood try, but not right. Select another answer. You will have to be the boss over your employeesSorry, not correct. Try another button.

2. Why do people often buy a franchise?

   They hope to steal the ideas, so they can start a competing businessOops! Wrong answer. Re-read the question and try again. Most often they don't know why they took the stepSorry, not correct. Try another button. They see it as a easy way to own a viable and profitable businessCorrect. You are smart!

3. What risk is there in buying an existing business?

   The existing customers may not like your personalityOops! Wrong answer. Re-read the question and try again. There may be hidden problems that are motivating the owners to sellThat is correct. You understand about starting a business. Wal-Mart may open a store next doorGood try, but not right. Select another answer.

Pick an answer to see instant feedback. Re-read the lesson if you miss one.