Question 1

Michael is a franchise restaurant owner.He has which of the following costs?

Accepted Answer

A) franchise fee to start plus a monthly royalty as a percentage of sales, plus other operational costs 
B) a royalty to the franchisor calculated as a percentage of income plus other operational costs 
C) his costs are the same as any other restaurant owner 
D) his costs equal his sales, that is, the matching principle from accounting 
A) franchise fee to start plus a monthly royalty as a percentage of sales, plus other operational costs 
B) a royalty to the franchisor calculated as a percentage of income plus other operational costs 
C) his costs are the same as any other restaurant owner 
D) his costs equal his sales, that is, the matching principle from accounting

Question 2

______ is defined as the entrepreneur buying out the existing owner and taking over operations and is sometimes seen as less risky.

Accepted Answer

A) Going into a partnership with the owner 
B) Buying a franchise from a franchise company 
C) Buying a small business 
D) Purchasing stock from a broker 
A) Going into a partnership with the owner 
B) Buying a franchise from a franchise company 
C) Buying a small business 
D) Purchasing stock from a broker

Question 3

Social entrepreneurship is reflected in the percentage of the population of each country between 18 and 64 who are either a nascent entrepreneur or an owner-manager of a new business.

Accepted Answer

A) True 
 B)False

Question 4

The entrepreneurial method requires consistent practice so that ______ can be continuously developed and applied to future endeavors.

Accepted Answer

A) a strong business plan 
B) education and application 
C) business processes 
D) knowledge and expertise 
A) a strong business plan 
B) education and application 
C) business processes 
D) knowledge and expertise

Question 5

What percentage of business organizations worldwide are family owned?

Accepted Answer

A) 50% 
B) 60-70% 
C) 70-80% 
D) 80-90% 
A) 50% 
B) 60-70% 
C) 70-80% 
D) 80-90%

Question 6

Entrepreneurs are not extreme risk-takers ______.

Accepted Answer

A) is not a true statement because the nature of starting something new, a business, is risky 
B) is true because risk can be offset by planning and research 
C) is a true statement because new businesses have a high rate of failure 
D) because entrepreneurship has nothing to do with risk 
A) is not a true statement because the nature of starting something new, a business, is risky 
B) is true because risk can be offset by planning and research 
C) is a true statement because new businesses have a high rate of failure 
D) because entrepreneurship has nothing to do with risk

Question 7

In the Pinnacle of Entrepreneurship (Second Industrial Revolution), the entrepreneur ______.

Accepted Answer

A) was not well respected as all should be working in the factories resulting from the Industrial Revolution 
B) were considered self-made men and were glorified in novels; their rags-to-riches stories captivated the soul of Americans 
C) worked harder than even before 
D) paid higher taxes than their neighbors working in the factories 
A) was not well respected as all should be working in the factories resulting from the Industrial Revolution 
B) were considered self-made men and were glorified in novels; their rags-to-riches stories captivated the soul of Americans 
C) worked harder than even before 
D) paid higher taxes than their neighbors working in the factories

Question 8

Examples of the Second Industrial Revolution of meeting consumer needs to be more connected with others, live in comfort, and be more efficient include which of the following?

Accepted Answer

A) telephone 
B) cell phone 
C) laptop 
D) automobile 
A) telephone 
B) cell phone 
C) laptop 
D) automobile

Question 9

Robert has a business that he wants to pass down to others in his family to run.Robert has ______.

Accepted Answer

A) an entrepreneurship 
B) a family enterprise 
C) a role as a an entrepreneur inside 
D) interest in a benefit corporation 
A) an entrepreneurship 
B) a family enterprise 
C) a role as a an entrepreneur inside 
D) interest in a benefit corporation

Question 10

Rahul, an immigrant from the Middle East, wants to start a spice business in the United States but wants a secure framework with experts in property rights, accounting, law, investment banking, and technology.Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, he needs ______.

Accepted Answer

A) cultural and social norms 
B) physical infrastructure 
C) entry regulation 
D) commercial and legal infrastructure 
A) cultural and social norms 
B) physical infrastructure 
C) entry regulation 
D) commercial and legal infrastructure

Question 11

The global experiment, Unreasonable at Sea, ______.

Accepted Answer

A) asked each time the ship stopped at a new country, "What is the one thing you want more than anything else in the world?" and one result was Pencils of Promise 
B) tried to creatively solve the conflicts in the Middle East 
C) asked for each challenge, "What is the worst thing that could happen as a result of this decision?" 
D) lasted only 5 years but started the microloan movement in India 
A) asked each time the ship stopped at a new country, "What is the one thing you want more than anything else in the world?" and one result was Pencils of Promise 
B) tried to creatively solve the conflicts in the Middle East 
C) asked for each challenge, "What is the worst thing that could happen as a result of this decision?" 
D) lasted only 5 years but started the microloan movement in India

Question 12

Sally has an idea for her own business.Which statement is true about Sally's business venture?

Accepted Answer

A) If her business is successful, the startup does not remain a startup. 
B) Her business can develop into a larger organization. 
C) Her business can be merged with or acquired by another business. 
D) all of these 
A) If her business is successful, the startup does not remain a startup. 
B) Her business can develop into a larger organization. 
C) Her business can be merged with or acquired by another business. 
D) all of these

Question 13

A benefit corporation (or B-Corp) is an organization certified by the nonprofit B Lab to ensure strict standards of social and environmental performance, accountability, and transparency are met.According to the book, which of the following statements is true?

Accepted Answer

A) Large non-profits are leaders in this movement. 
B) To host a telethon to raise money, the organization must be a B-Corp. 
C) The Buy One Give One promotions are effective in generating sales and improving the level of awareness of specific social issues. 
D) all of these 
A) Large non-profits are leaders in this movement. 
B) To host a telethon to raise money, the organization must be a B-Corp. 
C) The Buy One Give One promotions are effective in generating sales and improving the level of awareness of specific social issues. 
D) all of these

Question 14

Programs such as the Ernst and Young's EY Entrepreneurial Winning Women program and Springboard have helped to raise the profile of women entrepreneurs by supporting, training, and showcasing women entrepreneurs to the venture capital community through sponsored events and forums.This helps offset one of the findings from the 2014 Diana Project that suggests ______.

Accepted Answer

A) women need help developing their skills and innate abilities 
B) it is not the women entrepreneurs who need to adapt, but rather the venture capital model, which needs to be re-evaluated and updated to keep up with the changing landscape of women's entrepreneurship. 
C) women worldwide are less educated than men 
D) women are more homebound and need more help to develop products to impact their lives 
A) women need help developing their skills and innate abilities 
B) it is not the women entrepreneurs who need to adapt, but rather the venture capital model, which needs to be re-evaluated and updated to keep up with the changing landscape of women's entrepreneurship. 
C) women worldwide are less educated than men 
D) women are more homebound and need more help to develop products to impact their lives

Question 15

Anthony wants to start a restaurant but needs help with learning about being an entrepreneur.Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, he needs ______.

Accepted Answer

A) financial resources 
B) support from government 
C) entrepreneurship education 
D) research and development transfer 
A) financial resources 
B) support from government 
C) entrepreneurship education 
D) research and development transfer

Question 16

Effectual entrepreneurs focus on ______.

Accepted Answer

A) being effective in their markets 
B) creating a future rather than predicting it 
C) the tech industry 
D) establishing profitable, conservative businesses 
A) being effective in their markets 
B) creating a future rather than predicting it 
C) the tech industry 
D) establishing profitable, conservative businesses

Question 17

Analyze the benefit corporation (B Corp.) and describe its purpose and role for entrepreneurs.

Accepted Answer

A sub-category of social entrepreneurshi

Question 18

Sam loves opportunities and looks for one wherever he goes.He saw a need, developed a product, and did this on the side to increase his income.Sam is ______.

Accepted Answer

A) working two jobs 
B) an opportunity-based entrepreneur 
C) the definition of an entrepreneur 
D) a natural-born salesman 
A) working two jobs 
B) an opportunity-based entrepreneur 
C) the definition of an entrepreneur 
D) a natural-born salesman

Question 19

Global Entrepreneurship Monitor focuses its study on the level of total entrepreneurial activity (TEA) in different countries, ______.

Accepted Answer

A) identifying the percentage of the population of each country between 18 and 64 who are either nascent entrepreneurs or owner-managers of a new business 
B) quantifying the number of hours a month entrepreneurs work in their business 
C) measuring the opportunities available per country 
D) measuring the financial impact of cultural differences between the countries 
A) identifying the percentage of the population of each country between 18 and 64 who are either nascent entrepreneurs or owner-managers of a new business 
B) quantifying the number of hours a month entrepreneurs work in their business 
C) measuring the opportunities available per country 
D) measuring the financial impact of cultural differences between the countries

Question 20

An entrepreneur can own his or her own business or work in a corporation with an entrepreneurial spirit.

Accepted Answer

A) True 
 B)False

Michael is a franchise restaurant owner.He has which of the following costs?

______ is defined as the entrepreneur buying out the existing owner and taking over operations and is sometimes seen as less risky.

Social entrepreneurship is reflected in the percentage of the population of each country between 18 and 64 who are either a nascent entrepreneur or an owner-manager of a new business.

The entrepreneurial method requires consistent practice so that ______ can be continuously developed and applied to future endeavors.

What percentage of business organizations worldwide are family owned?

Entrepreneurs are not extreme risk-takers ______.

In the Pinnacle of Entrepreneurship (Second Industrial Revolution), the entrepreneur ______.

Examples of the Second Industrial Revolution of meeting consumer needs to be more connected with others, live in comfort, and be more efficient include which of the following?

Robert has a business that he wants to pass down to others in his family to run.Robert has ______.

The global experiment, Unreasonable at Sea, ______.

Sally has an idea for her own business.Which statement is true about Sally's business venture?

A benefit corporation (or B-Corp) is an organization certified by the nonprofit B Lab to ensure strict standards of social and environmental performance, accountability, and transparency are met.According to the book, which of the following statements is true?

Anthony wants to start a restaurant but needs help with learning about being an entrepreneur.Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, he needs ______.

Effectual entrepreneurs focus on ______.

Analyze the benefit corporation (B Corp.) and describe its purpose and role for entrepreneurs.

Sam loves opportunities and looks for one wherever he goes.He saw a need, developed a product, and did this on the side to increase his income.Sam is ______.

Global Entrepreneurship Monitor focuses its study on the level of total entrepreneurial activity (TEA) in different countries, ______.

An entrepreneur can own his or her own business or work in a corporation with an entrepreneurial spirit.

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Planning for Entrepreneurs

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

Filters

Exam 1: Entrepreneurship: a Global Social Movement

Michael is a franchise restaurant owner.He has which of the following costs?

______ is defined as the entrepreneur buying out the existing owner and taking over operations and is sometimes seen as less risky.

Social entrepreneurship is reflected in the percentage of the population of each country between 18 and 64 who are either a nascent entrepreneur or an owner-manager of a new business.

The entrepreneurial method requires consistent practice so that ______ can be continuously developed and applied to future endeavors.

What percentage of business organizations worldwide are family owned?

Entrepreneurs are not extreme risk-takers ______.

In the Pinnacle of Entrepreneurship (Second Industrial Revolution), the entrepreneur ______.

Examples of the Second Industrial Revolution of meeting consumer needs to be more connected with others, live in comfort, and be more efficient include which of the following?

Robert has a business that he wants to pass down to others in his family to run.Robert has ______.

The global experiment, Unreasonable at Sea, ______.

Sally has an idea for her own business.Which statement is true about Sally's business venture?

A benefit corporation (or B-Corp) is an organization certified by the nonprofit B Lab to ensure strict standards of social and environmental performance, accountability, and transparency are met.According to the book, which of the following statements is true?

Anthony wants to start a restaurant but needs help with learning about being an entrepreneur.Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, he needs ______.

Effectual entrepreneurs focus on ______.

Analyze the benefit corporation (B Corp.) and describe its purpose and role for entrepreneurs.

Sam loves opportunities and looks for one wherever he goes.He saw a need, developed a product, and did this on the side to increase his income.Sam is ______.

Global Entrepreneurship Monitor focuses its study on the level of total entrepreneurial activity (TEA) in different countries, ______.

An entrepreneur can own his or her own business or work in a corporation with an entrepreneurial spirit.

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Planning for Entrepreneurs

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

Filters