Business Studies Multiple Choice Question – 15 January 2022

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Business Studies
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Lucy is the founder of Guinea Pig Love, a very successful global brand. She has won many awards including Staffordshire Young Entrepreneur of the Year in 2021.

Which one of the following is least likely to be a characteristic of a successful entrepreneur?

Select ONE answer:

  1. Self-confident
  2. Risk-taker
  3. Resilient
  4. Indecisive

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

  1. Not correct – because an entrepreneur has to be self-confident and believe in their ideas and decision making, particularly when faced with difficult choices/decisions.
  2. Not correct – because entrepreneurs do take risks which are balanced against rewards.
  3. Not correct – because resilience means not giving up, which is crucial for a successful entrepreneur as businesses often struggle/fail, especially in the first year.
  4. Correct – what is an entrepreneur e.g. someone who combines the factors of production in order to create a business/willingness to take risks involved in running a business. Many successful entrepreneurs have to be able to make many quick decisions for the survival of their business. If decisions are not made quickly vital opportunities would be lost thereby risking the success of the business.

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Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

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