Exam 1: Introduction to Entrepreneurship

According to the Global Entrepreneurship Monitor (GEM) 2010 survey, about ________ of adults in the United States are either starting a business or are running a business that has been in existence for less than 3 1/2 years.

At the high school and younger level, according to a Harris Interactive Survey, ________ said they'd like to start their own business someday.

The number one characteristic shared by successful entrepreneurs is:

Pacific Printing LLC is a startup that is working on a new technology for the printing industry. Because the technology it's working on is highly proprietary, the company is located in the warehouse district of a large western city. Pacific's founder, Jan Sims, rarely gives interviews, and is careful to not divulge much about what the company is doing. Which of the following common myths about entrepreneurs does the behavior of its founder, Jan Sims, dispel?

In terms of the "types" of startup firms, entrepreneurial firms bring new products and services to market.

Which of the following is not a personality trait or characteristic common among entrepreneurs?

Kentucky Soup and Salad is a casual dining restaurant that has been owned by Kenneth Peterson for the past 11 years. The restaurant offers a menu that is typical for casual dining restaurants and affords Kenneth a level of income that is similar to what he would earn in a conventional job. According to the textbook, Kentucky Soup and Salad is an example of a(n):

According to the textbook, there are three types of startup firms: entrepreneurial firms, lifestyle firms, and:

Over the past 10 years, the demographic makeup of entrepreneurial firms has remained fairly stable in the United States and around the world.

Identify and discuss the three primary reasons that entrepreneurial behavior has a strong impact on the United States economy.

Which of the following statement is correct regarding entrepreneurial activity and age ranges?

The four main characteristics of successful entrepreneurs are: passion for the business, execution intelligence, product/customer focus, and tenacity despite failure.

GiftZip, the company profiled in the opening feature for Chapter 1, makes money via:

According to the textbook, the biggest jump in entrepreneurial activity, by age range, from 1996 to 2010 is among entrepreneurs in the:

What is entrepreneurship? What is the essence of entrepreneurial behavior?

Which of the following was not given in the textbook as a reason for the increase in the number of senior entrepreneurs?

Apple Inc. is a firm that is proactive, innovative and risk-taking. From this description, we can most accurately conclude that Apple has a high level of:

According to the consensus of the research, some people are genetically predisposed to be entrepreneurs.

Of the 27.5 million businesses in the United States, women, minorities, seniors, and young people increasingly own a smaller number of them.

Chad and Allison Druxman launched a firm several years ago and have been particularly successful in introducing new products to the marketplace. One thing that Chad and Allison are particularly good at is translating their thoughts, creativity, and imaginations into products that reach the marketplace. The ability to make this happen is most closely related to which of the following characteristics of successful entrepreneurs?