Question 1

Growing numbers of businesses are using social media tools.

Accepted Answer

A) True 
 B)False

Question 2

Explain the differences among classic entrepreneurs, serial entrepreneurs, and social entrepreneurs.

Accepted Answer

The answer of Explain the differences among classic entrepreneurs, serial...

Question 3

Complete the following using the terms listed below.
-A(n) ______ is an individual who lends money to new ventures in exchange for an equity stake.

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

Question 4

Collin works for a large bank that recently merged with another financial institution. Word of layoffs has been discussed. Collin is most likely to become an entrepreneur in order to ______.

Accepted Answer

A)  become his own boss 
B)  obtain job security 
C)  succeed financially 
D)  improve his quality of life

Question 5

Entrepreneurs possess all of the following traits EXCEPT ______.

Accepted Answer

A)  tolerance for ambiguity 
B)  creativity 
C)  low self-confidence 
D)  vision

Question 6

Complete the following using the terms listed below.
-A person who identifies a business opportunity and allocates available resources to tap that market is a(n) ______.

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

Question 7

Mention and explain two motives that drive people to become entrepreneurs. Explain with examples.

Accepted Answer

The answer of Mention and explain two motives that drive...

Question 8

What makes entrepreneurs unique is their overwhelming desire to ______.

Accepted Answer

A)  become successful 
B)  utilize their creative energy 
C)  manage employees 
D)  make their business grow

Question 9

People should NOT attempt to convert their hobbies into a business, since starting a business is a serious venture.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following persons is least likely to become an entrepreneur?

Accepted Answer

A)  an inquisitive person 
B)  an intelligent person 
C)  a calm, low-energy person 
D)  a flexible person

Question 11

Entrepreneurs take necessary risks to set up and operate a business.

Accepted Answer

A) True 
 B)False

Question 12

Enterprise zones encourage investment by offering tax advantages and incentives to businesses locating within the zones.

Accepted Answer

A) True 
 B)False

Question 13

Lifestyle entrepreneurs are energized to set up businesses because of the need for ______.

Accepted Answer

A)  flexibility in working and control over their life 
B)  the desire to invest their monies 
C)  desire to invest irrespective of making profit or loss 
D)  to gain popularity

Question 14

Overall, the outlook for becoming an entrepreneur is NOT positive at this time.

Accepted Answer

A) True 
 B)False

Question 15

To what extent is a code of ethics important to a newly established business?

Accepted Answer

The answer of To what extent is a code of...

Question 16

Which of the following has contributed the least to the boom in entrepreneurship?

Accepted Answer

A)  information technology 
B)  demographic and economic trends 
C)  education 
D)  the rise of service industries

Question 17

Demographic information offers opportunity to identify differing needs of customers. What are some of the demographic factors and how will you use those to identify opportunities for investment?

Accepted Answer

The answer of Demographic information offers opportunity to identify differing...

Question 18

Katherine is a successful entrepreneur. She stays close to her customers and is constantly looking for effective strategies. She is also willing to make adjustments when necessary. Katherine is demonstrating ______.

Accepted Answer

A)  internal locus of control 
B)  creativity 
C)  vision 
D)  tolerance for ambiguity

Question 19

Financial success ______.

Accepted Answer

A)  plays little role in motivating people to become entrepreneurs 
B)  is virtually guaranteed if people work hard enough starting their own businesses 
C)  rarely results from starting a business 
D)  is part of the appeal of becoming an entrepreneur

Question 20

Complete the following using the terms listed below.
-______ helps entrepreneurs work quickly and efficiently, provide attentive customer service, increase sales, and project professional images.

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

Exam 6: Starting Your Own Business: the Entrepreneurship Alternative

Growing numbers of businesses are using social media tools.

Explain the differences among classic entrepreneurs, serial entrepreneurs, and social entrepreneurs.

Complete the following using the terms listed below. -A(n) ______ is an individual who lends money to new ventures in exchange for an equity stake.

Collin works for a large bank that recently merged with another financial institution. Word of layoffs has been discussed. Collin is most likely to become an entrepreneur in order to ______.

Entrepreneurs possess all of the following traits EXCEPT ______.

Complete the following using the terms listed below. -A person who identifies a business opportunity and allocates available resources to tap that market is a(n) ______.

Mention and explain two motives that drive people to become entrepreneurs. Explain with examples.

What makes entrepreneurs unique is their overwhelming desire to ______.

People should NOT attempt to convert their hobbies into a business, since starting a business is a serious venture.

Which of the following persons is least likely to become an entrepreneur?

Entrepreneurs take necessary risks to set up and operate a business.

Enterprise zones encourage investment by offering tax advantages and incentives to businesses locating within the zones.

Lifestyle entrepreneurs are energized to set up businesses because of the need for ______.

Overall, the outlook for becoming an entrepreneur is NOT positive at this time.

To what extent is a code of ethics important to a newly established business?

Which of the following has contributed the least to the boom in entrepreneurship?

Demographic information offers opportunity to identify differing needs of customers. What are some of the demographic factors and how will you use those to identify opportunities for investment?

Katherine is a successful entrepreneur. She stays close to her customers and is constantly looking for effective strategies. She is also willing to make adjustments when necessary. Katherine is demonstrating ______.

Financial success ______.

Complete the following using the terms listed below. -______ helps entrepreneurs work quickly and efficiently, provide attentive customer service, increase sales, and project professional images.