Question 1

____________is the process of promoting innovation within an established company.

Accepted Answer

A) lifestyle entrepreneur 
B) globalization 
C) angel investor 
D) enterprise zone 
E) debt financing.
F)internal locus of control
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology 
A) lifestyle entrepreneur 
B) globalization 
C) angel investor 
D) enterprise zone 
E) debt financing.
F)internal locus of control
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Question 2

Social entrepreneurs recognize a societal problem and use business principles to develop innovative solutions.

Accepted Answer

A) True 
 B)False

Question 3

Venture capitalists take an equity stake in businesses in which they invest their funds.

Accepted Answer

A) True 
 B)False

Question 4

Although entrepreneurs can reap huge profits,job seekers would be better off looking to large corporations for employment opportunities.

Accepted Answer

A) True 
 B)False

Question 5

In the past,most entrepreneurs started their ventures without creating formal business plans.

Accepted Answer

A) True 
 B)False

Question 6

Paterno routinely bids on contracts even though most of the other bidders are extremely large firms.Paterno believes his company offers better service at lower prices.He is exhibiting which personality trait common in entrepreneurs?

Accepted Answer

A)  creativity 
B)  tolerance for failure 
C)  high energy level 
D)  self-confidence 
A)  creativity 
B)  tolerance for failure 
C)  high energy level 
D)  self-confidence

Question 7

Angel investors seek out successful businesses with established profits.

Accepted Answer

A) True 
 B)False

Question 8

Classic entrepreneurs identify business opportunities and allocate available resources to tap into those markets.

Accepted Answer

A) True 
 B)False

Question 9

_____ are specific geographic areas designated for economic revitalization.

Accepted Answer

A)  Economic stimulus zones 
B)  Investor zones 
C)  Enterprise zones 
D)  Commerce areas 
A)  Economic stimulus zones 
B)  Investor zones 
C)  Enterprise zones 
D)  Commerce areas

Question 10

Which of the following is a major consideration in selecting a business idea?

Accepted Answer

A)  Make sure no company is currently offering the product/service. 
B)  Select something that appeals to people around the globe. 
C)  Find something you love to do and are good at doing. 
D)  Choose a product/service that is inexpensive to sell. 
A)  Make sure no company is currently offering the product/service. 
B)  Select something that appeals to people around the globe. 
C)  Find something you love to do and are good at doing. 
D)  Choose a product/service that is inexpensive to sell.

Question 11

Jada is opening her own bakery.Jada is an example of a(n)________.

Accepted Answer

A)  manager 
B)  entrepreneur 
C)  minority executive 
D)  venture capitalist 
A)  manager 
B)  entrepreneur 
C)  minority executive 
D)  venture capitalist

Question 12

Which of the following countries has the highest level of total entrepreneurial activity?

Accepted Answer

A)  Thailand 
B)  United Kingdom 
C)  United States 
D)  Canada 
A)  Thailand 
B)  United Kingdom 
C)  United States 
D)  Canada

Question 13

Many colleges and universities offer programs in entrepreneurship.

Accepted Answer

A) True 
 B)False

Question 14

All of the following are major advantages of buying an existing business over starting a new business EXCEPT:

Accepted Answer

A)  less risk is involved. 
B)  product or service is not known in the marketplace. 
C)  obtaining financing is often easier. 
D)  existing suppliers and employees are in place. 
A)  less risk is involved. 
B)  product or service is not known in the marketplace. 
C)  obtaining financing is often easier. 
D)  existing suppliers and employees are in place.

Question 15

Michael is a successful financial advisor looking to invest money directly into a new consulting business in return for equity in the company.Michael is an example of a(n)________.

Accepted Answer

A)  aerial entrepreneur 
B)  entrepreneur 
C)  angel investor 
D)  intrapreneur 
A)  aerial entrepreneur 
B)  entrepreneur 
C)  angel investor 
D)  intrapreneur

Question 16

A(n)_____ recognizes a societal problem and uses business principles to develop innovative solutions.

Accepted Answer

A) lifestyle entrepreneur 
B) globalization 
C) angel investor 
D) enterprise zone 
E) debt financing.
F)internal locus of control
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology 
A) lifestyle entrepreneur 
B) globalization 
C) angel investor 
D) enterprise zone 
E) debt financing.
F)internal locus of control
G)debt financing
H)classic entrepreneur
I)social entrepreneur
J)seed capital
K)venture capitalist
L)intrapreneurship
M)urban reserve
N)information technology

Question 17

There is very little the government can do to encourage entrepreneurship.

Accepted Answer

A) True 
 B)False

Question 18

Entrepreneurs take credit for their successes,but often blame external conditions for their failures.

Accepted Answer

A) True 
 B)False

Question 19

Studies indicate that most entrepreneurs spend ______ on their new business.

Accepted Answer

A)  more than 60 hours per week 
B)  less than 30 hours a week 
C)  weekends only 
D)  about 40 hours per week 
A)  more than 60 hours per week 
B)  less than 30 hours a week 
C)  weekends only 
D)  about 40 hours per week

Question 20

Studies confirm that the personality traits common to entrepreneurs are very similar to those required for managerial success.

Accepted Answer

A) True 
 B)False

____________is the process of promoting innovation within an established company.

Social entrepreneurs recognize a societal problem and use business principles to develop innovative solutions.

Venture capitalists take an equity stake in businesses in which they invest their funds.

Although entrepreneurs can reap huge profits,job seekers would be better off looking to large corporations for employment opportunities.

In the past,most entrepreneurs started their ventures without creating formal business plans.

Paterno routinely bids on contracts even though most of the other bidders are extremely large firms.Paterno believes his company offers better service at lower prices.He is exhibiting which personality trait common in entrepreneurs?

Angel investors seek out successful businesses with established profits.

Classic entrepreneurs identify business opportunities and allocate available resources to tap into those markets.

_____ are specific geographic areas designated for economic revitalization.

Which of the following is a major consideration in selecting a business idea?

Jada is opening her own bakery.Jada is an example of a(n)________.

Which of the following countries has the highest level of total entrepreneurial activity?

Many colleges and universities offer programs in entrepreneurship.

All of the following are major advantages of buying an existing business over starting a new business EXCEPT:

Michael is a successful financial advisor looking to invest money directly into a new consulting business in return for equity in the company.Michael is an example of a(n)________.

A(n)_____ recognizes a societal problem and uses business principles to develop innovative solutions.

There is very little the government can do to encourage entrepreneurship.

Entrepreneurs take credit for their successes,but often blame external conditions for their failures.

Studies indicate that most entrepreneurs spend ______ on their new business.

Studies confirm that the personality traits common to entrepreneurs are very similar to those required for managerial success.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Forms of Business Ownership and Organization

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labour Relations

Top Performance through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters

Exam 6: Starting Your Own Business: The Entrepreneurship Alternative

____________is the process of promoting innovation within an established company.

Social entrepreneurs recognize a societal problem and use business principles to develop innovative solutions.

Venture capitalists take an equity stake in businesses in which they invest their funds.

Although entrepreneurs can reap huge profits,job seekers would be better off looking to large corporations for employment opportunities.

In the past,most entrepreneurs started their ventures without creating formal business plans.

Paterno routinely bids on contracts even though most of the other bidders are extremely large firms.Paterno believes his company offers better service at lower prices.He is exhibiting which personality trait common in entrepreneurs?

Angel investors seek out successful businesses with established profits.

Classic entrepreneurs identify business opportunities and allocate available resources to tap into those markets.

_____ are specific geographic areas designated for economic revitalization.

Which of the following is a major consideration in selecting a business idea?

Jada is opening her own bakery.Jada is an example of a(n)________.

Which of the following countries has the highest level of total entrepreneurial activity?

Many colleges and universities offer programs in entrepreneurship.

All of the following are major advantages of buying an existing business over starting a new business EXCEPT:

Michael is a successful financial advisor looking to invest money directly into a new consulting business in return for equity in the company.Michael is an example of a(n)________.

A(n)_____ recognizes a societal problem and uses business principles to develop innovative solutions.

There is very little the government can do to encourage entrepreneurship.

Entrepreneurs take credit for their successes,but often blame external conditions for their failures.

Studies indicate that most entrepreneurs spend ______ on their new business.

Studies confirm that the personality traits common to entrepreneurs are very similar to those required for managerial success.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Forms of Business Ownership and Organization

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labour Relations

Top Performance through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters