Exam 7: Small Business and Entrepreneurship: Economic Rocket Fuel

Jacob is in urgent need of financing for his rapidly-growing online travel business, Travelmuch. Since Jacob does not usually pay off his loans on time, his credit score is very low. He feels overwhelmed and thinks that it would be ideal if he gets some guidance on how to run the business. Given his situation, which of the following key sources of funding would be ideal for Jacob?

Marion has an innovative idea for better disposal of garbage. Hence, he starts a business to implement this idea that he believes will succeed.He is also aware of the risks involved in starting the business. However, Marion tends to put in only six hours a day into building his business; some days, he finds it difficult to put in any time. Which of the following entrepreneurial characteristics does Marion lack?

A _________ is a formal document that describes a business concept and outlines the core business objectives while detailing the strategies and timelines for achieving those objectives.

Which of the following statements is true of the impact of federal regulations on entrepreneurship?

Which of the following pieces of information is found in the Small Business Administration (SBA)resources?

Dominic feels that an incredible string of bad luck has affected his personal life. He also feels that his boss is subjecting him to unfair treatment at work for no fault of his own. Dominic's perceptions suggest that he has an external locus of control.

Xavi develops a cell phone battery that can be charged by a solar panel and can run efficiently for up to three hours. His friends point out that it would be difficult to get cell phone manufacturers to adopt this new technology and that it could take a long time for people to start relying on it. However, Xavi is convinced that he can make his idea popular and successful. He plans to start a new company called EnerMob Inc.that would promote and sell the cell phone battery to the public.In this scenario, Xavi is said to be demonstrating _____.

While raising start-up funds from friends and family, it is:

Deborah dreams of owning a pub in the heart of the city she lives in. She wants to have a music band right next to the bar playing her favorite rock ballads. She also has creative ideas for the food on the menu. Since Deborah already has the funds needed to start the pub, which of the following suggestions is most likely to help Deborah realize her dream?

David is a high school senior interested in starting his own computer repair business. David's interest in starting his own business will have no effect on the long-term recovery of the economy.