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| 1 | |
Only one person in 50 starts their own business, even though at any given moment roughly half the U.S. adults think about owning their own business. |
| | A) | True |
| | B) | False |
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| 2 | |
Business models, products, and services that imitate those of other businesses are characterizations of entrepreneurial businesses. |
| | A) | True |
| | B) | False |
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| 3 | |
An entrepreneur is considered the person who creates or has created the new business. |
| | A) | True |
| | B) | False |
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| 4 | |
Flexibility, fame, and fortune are three rewards that nearly all entrepreneurs discuss. |
| | A) | True |
| | B) | False |
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| 5 | |
In terms of number of businesses, people employed, and amount of revenue generated, service industries represent the biggest business sector today. |
| | A) | True |
| | B) | False |
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| 6 | |
Resources are one of the biggest hurdles to starting a business. The BRIE model can help individuals over come this. |
| | A) | True |
| | B) | False |
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| 7 | |
Small businesses offering supporting services allows high-growth ventures and big businesses to succeed. |
| | A) | True |
| | B) | False |
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| 8 | |
A business whose owner manages on a day-to-day basis and involves ______ people is a small business, according to your text. |
| | A) | at least 500 |
| | B) | 100-200 |
| | C) | between 200 to 500 |
| | D) | 1-50 |
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| 9 | |
______ is a facility which offers subsidized space and business advice to companies in their earliest stages of operation. |
| | A) | Occupational structure |
| | B) | Incubator |
| | C) | Franchise |
| | D) | Small business development center |
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| 10 | |
If a business has fewer than _____ employees, the Small Business Administration categorizes that business as small. |
| | A) | 50 |
| | B) | 300 |
| | C) | 500 |
| | D) | 1000 |
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| 11 | |
______ characterizes entrepreneurial businesses whereas ______ characterizes the nature of small businesses. |
| | A) | Manufacturing; service |
| | B) | High-tech; low tech |
| | C) | Novelty; imitative |
| | D) | Imitation; novel |
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| 12 | |
Which of these represent a small business characteristic? |
| | A) | Focus is on efficiency. |
| | B) | Preferred funding source is other people's money. |
| | C) | Approach to human resource is to professionalize. |
| | D) | Delegation is essential. |
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| 13 | |
Of the millions of business in the world, ______ percent are high-growth ventures. |
| | A) | 91.8% |
| | B) | 3.8% |
| | C) | 32% |
| | D) | 64% |
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| 14 | |
About 12,000 firms make up the __________. |
| | A) | Economic sector |
| | B) | Glamorous sector |
| | C) | High-growth ventures |
| | D) | Slow-growth ventures |
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| 15 | |
In the U.S., more than _____ percent of millionaires are entrepreneurs, and of these, ______ are business owners. |
| | A) | 25; one-fifth |
| | B) | 90; one-half |
| | C) | 75; two-thirds |
| | D) | 50; one-third |
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| 16 | |
______ refers to the ability of business owners to structure life in the way that suits their needs best. |
| | A) | Family rewards |
| | B) | Flexibility rewards |
| | C) | Growth rewards |
| | D) | Wealth rewards |
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| 17 | |
What percent of businesses with employees survive four years or more? |
| | A) | 33 |
| | B) | 50 |
| | C) | 66 |
| | D) | 90 |
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| 18 | |
According to the BRIE model, ______ represents the desire to start a business. |
| | A) | resource |
| | B) | boundary |
| | C) | exchange |
| | D) | intension |
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| 19 | |
______ is one of the biggest hurdles to starting a business. The BRIE model can help an individual deal with this. |
| | A) | Inaction |
| | B) | Get resources |
| | C) | Set boundary |
| | D) | Make an exchange |
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| 20 | |
______ refers to the sequence or organization of jobs and careers in the economy. |
| | A) | Franchising |
| | B) | Creative destruction |
| | C) | Occupational structure |
| | D) | Incubators |
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| 21 | |
Which of these refers to the way newly created goods, services, or firms can hurt existing goods, services, or firms? |
| | A) | Creative destruction |
| | B) | Franchising |
| | C) | Occupational structure |
| | D) | Incubators |
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| 22 | |
Which of these explains why so many innovations come from small business? |
| | A) | Idea |
| | B) | Exchange |
| | C) | Resources |
| | D) | Flexibility |
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| 23 | |
Which of these involves revitalizing government agencies? |
| | A) | Independent entrepreneurship |
| | B) | Public entrepreneurship |
| | C) | Corporate entrepreneurship |
| | D) | PICS entrepreneurship |
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