Question 1

Five percent of American adults report they "invested" in someone else's venture in the last three years.

Accepted Answer

A) True 
 B)False

Question 2

According to the GEM model, how many sets of activities create the basis for national economic growth?

Accepted Answer

A)  2 
B)  3 
C)  4 
D)  5 
E)  6 
A)  2 
B)  3 
C)  4 
D)  5 
E)  6

Question 3

Norway is among the leading countries, in terms of entrepreneurial activity.

Accepted Answer

A) True 
 B)False

Question 4

The amount of venture capital under management has grown from $3.7 billion in 1980 to $156.5 billion in 2015.

Accepted Answer

A) True 
 B)False

Question 5

What percentage of new business ventures typically survive their first 5 years of operation?

Accepted Answer

A)  100 
B)  81 
C)  65 
D)  40 
E)  25 
A)  100 
B)  81 
C)  65 
D)  40 
E)  25

Question 6

At the turn of the 20th century, about 50% of US workers worked in either the agricultural or the domestic service spheres. Approximately 100 years later that percentage had decreased to which of the following figures?

Accepted Answer

A)  4% 
B)  10% 
C)  16% 
D)  22% 
E)  35% 
A)  4% 
B)  10% 
C)  16% 
D)  22% 
E)  35%

Question 7

Baby business managers are owners-managers who are actively trying to start a new business but who have not yet done so.

Accepted Answer

A) True 
 B)False

Question 8

In general, businesses with 100-500 employees are considered "medium-sized businesses."

Accepted Answer

A) True 
 B)False

Question 9

What was the world's largest corporation in 2012?

Accepted Answer

A)  Southwest Airlines 
B)  General Motors 
C)  Walmart 
D)  Google 
E)  Apple 
A)  Southwest Airlines 
B)  General Motors 
C)  Walmart 
D)  Google 
E)  Apple

Question 10

Baby boomers are not as concerned about job security as were their parents.

Accepted Answer

A) True 
 B)False

Question 11

Churning is a main component of a healthy economy.

Accepted Answer

A) True 
 B)False

Question 12

The Fortune 500 employed 15 percent of the workforce in 2005.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following entrepreneurs was one of the pioneers of the biotechnology industry?

Accepted Answer

A)  Robert Noyce 
B)  Arthur Blank 
C)  Tim Nerners-Lee 
D)  George Gendron 
E)  Robert Swanson 
A)  Robert Noyce 
B)  Arthur Blank 
C)  Tim Nerners-Lee 
D)  George Gendron 
E)  Robert Swanson

Question 14

Which of the following industries was the prime example of venture capital fueling the pace of commercial innovation?

Accepted Answer

A)  Semi-Conductors 
B)  Mini-Computers 
C)  Biotechnology 
D)  Personal Computers 
E)  All of the Above 
A)  Semi-Conductors 
B)  Mini-Computers 
C)  Biotechnology 
D)  Personal Computers 
E)  All of the Above

Question 15

How many business incubators were in the US in 2006?

Accepted Answer

A)  240 
B)  764 
C)  850 
D)  1115 
E)  2076 
A)  240 
B)  764 
C)  850 
D)  1115 
E)  2076

Question 16

Which term is used to describe business churning?

Accepted Answer

A)  Artificial evolution 
B)  Evolving transition 
C)  Making the butter 
D)  Business expansion 
E)  Creative destruction 
A)  Artificial evolution 
B)  Evolving transition 
C)  Making the butter 
D)  Business expansion 
E)  Creative destruction

Question 17

In general, the most important source of capital for a new entrepreneurial venture is which of the following?

Accepted Answer

A)  Informal investors 
B)  Venture Capital 
C)  Banks 
D)  Profits from the venture 
E)  Incubators 
A)  Informal investors 
B)  Venture Capital 
C)  Banks 
D)  Profits from the venture 
E)  Incubators

Question 18

What percent of the workforce did Fortune 500 companies employ in 1960's?

Accepted Answer

A)  10 
B)  15 
C)  20 
D)  25 
E)  30 
A)  10 
B)  15 
C)  20 
D)  25 
E)  30

Question 19

The boom and bust cycle of the dot-com era is similar to other periods of commercial innovation. (no longer in the chapter)

Accepted Answer

A) True 
 B)False

Question 20

What percentage of Americans dream of starting a business?

Accepted Answer

A)  68% 
B)  39% 
C)  48% 
D)  58% 
E)  28% 
A)  68% 
B)  39% 
C)  48% 
D)  58% 
E)  28%

Five percent of American adults report they "invested" in someone else's venture in the last three years.

According to the GEM model, how many sets of activities create the basis for national economic growth?

Norway is among the leading countries, in terms of entrepreneurial activity.

The amount of venture capital under management has grown from $3.7 billion in 1980 to $156.5 billion in 2015.

What percentage of new business ventures typically survive their first 5 years of operation?

At the turn of the 20^th century, about 50% of US workers worked in either the agricultural or the domestic service spheres. Approximately 100 years later that percentage had decreased to which of the following figures?

Baby business managers are owners-managers who are actively trying to start a new business but who have not yet done so.

In general, businesses with 100-500 employees are considered "medium-sized businesses."

What was the world's largest corporation in 2012?

Baby boomers are not as concerned about job security as were their parents.

Churning is a main component of a healthy economy.

The Fortune 500 employed 15 percent of the workforce in 2005.

Which of the following entrepreneurs was one of the pioneers of the biotechnology industry?

Which of the following industries was the prime example of venture capital fueling the pace of commercial innovation?

How many business incubators were in the US in 2006?

Which term is used to describe business churning?

In general, the most important source of capital for a new entrepreneurial venture is which of the following?

What percent of the workforce did Fortune 500 companies employ in 1960's?

The boom and bust cycle of the dot-com era is similar to other periods of commercial innovation. (no longer in the chapter)

What percentage of Americans dream of starting a business?

The Entrepreneurial Process

Opportunity Recognition, Shaping, and Reshaping

Prototyping Your Ideas

Understanding Your Business Model and Developing Your Strategy

Entrepreneurial Marketing

Building the Founding Team

The Business Planning Process

Building Your Pro Forma Financial Statements

Financing Entrepreneurial Ventures Worldwide

Raising Money for Starting and Growing Businesses

Debt and Other Forms of Financing

Legal and Tax Issues, Including Intellectual Property

Entrepreneurial Growth

Social Entrepreneurship

Filters

Exam 1: The Power of Entrepreneurship

Five percent of American adults report they "invested" in someone else's venture in the last three years.

According to the GEM model, how many sets of activities create the basis for national economic growth?

Norway is among the leading countries, in terms of entrepreneurial activity.

The amount of venture capital under management has grown from $3.7 billion in 1980 to $156.5 billion in 2015.

What percentage of new business ventures typically survive their first 5 years of operation?

At the turn of the 20th century, about 50% of US workers worked in either the agricultural or the domestic service spheres. Approximately 100 years later that percentage had decreased to which of the following figures?

Baby business managers are owners-managers who are actively trying to start a new business but who have not yet done so.

In general, businesses with 100-500 employees are considered "medium-sized businesses."

What was the world's largest corporation in 2012?

Baby boomers are not as concerned about job security as were their parents.

Churning is a main component of a healthy economy.

The Fortune 500 employed 15 percent of the workforce in 2005.

Which of the following entrepreneurs was one of the pioneers of the biotechnology industry?

Which of the following industries was the prime example of venture capital fueling the pace of commercial innovation?

How many business incubators were in the US in 2006?

Which term is used to describe business churning?

In general, the most important source of capital for a new entrepreneurial venture is which of the following?

What percent of the workforce did Fortune 500 companies employ in 1960's?

The boom and bust cycle of the dot-com era is similar to other periods of commercial innovation. (no longer in the chapter)

What percentage of Americans dream of starting a business?

The Entrepreneurial Process

Opportunity Recognition, Shaping, and Reshaping

Prototyping Your Ideas

Understanding Your Business Model and Developing Your Strategy

Entrepreneurial Marketing

Building the Founding Team

The Business Planning Process

Building Your Pro Forma Financial Statements

Financing Entrepreneurial Ventures Worldwide

Raising Money for Starting and Growing Businesses

Debt and Other Forms of Financing

Legal and Tax Issues, Including Intellectual Property

Entrepreneurial Growth

Social Entrepreneurship

Filters

At the turn of the 20^th century, about 50% of US workers worked in either the agricultural or the domestic service spheres. Approximately 100 years later that percentage had decreased to which of the following figures?