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- 1. Multiple ChoiceSmall businesses have a positive effect on the local community because they:A. reduce competition.B. pay taxes.C. limit job growth.D. charge interest.2.
- 2. Multiple ChoiceWhat is one of the main reasons why small businesses are strongly promoted and supported by local government?A. They serve only their local communities.B. They are owned by one person.C. They may become a big business.D. They are important to the economy.
- 3. Multiple ChoiceWhich of the following statements is most likely to have a negative effect on domestic small-business growth:A. Involuntary tax reductionsB. Restrictive loan policiesC. Low interest ratesD. Slow inflation
- 4. Multiple ChoiceWhich of the following statements is true about entrepreneurship and small business growth:NCCTE.9_12.SH.ME11.1.01RBT:..A. Trade regulations have very little effect on small-business growthB. Many people start entrepreneurial ventures during times of economic recession.C. Small business start-ups are taxed at a higher rate than multinational companiesD. Consumer spending is a primary factor that influences entrepreneurial success.
- 5. Multiple ChoiceEven when times are tough for Caitlin's business venture, she tends to remain positive- she looks at the glassas half full rather than half empty. What characteristic of entrepreneurship is Caitlin exhibiting?A. OrganizationB. OptimismC. InnovationD. Determination
- 6. Multiple ChoiceHome-based businesses are attractive to many people because the businesses generally.A. yield higher profit marginsB. provide owners a steady income.C. have lower start-up costs.D. require less technical training.
- 7. Multiple ChoiceSuccessful entrepreneurs enjoy their work and often start their businesses so that they can share theirinterests and enthusiasm with others. In other words, successful entrepreneurs have __________ what they do.A. reservations aboutB. concerns aboutC. apathy forD. passion for
- 8. Multiple ChoiceWhich of the following is a financial concern that entrepreneurs often face when starting new businesses:A. Irregular paychecksB. Long working hoursC. Shorter vacationsD. Lower production standards
- 9. Multiple ChoiceWhich of the following statements is true regarding training for entrepreneurial ventures:A. Once entrepreneurs are educated or trained in their business field, they rarely need further education.B. Most successful entrepreneurs have degrees from four-year colleges or universities.C.The type of training and education that entrepreneurs need depends on the nature of the start-up business.D. Most entrepreneurs must pass state-mandated exams to operate their business.
- 10. Multiple ChoiceWhat behavior is exhibited when an individual recognizes the possibility of an undesirable outcome and continues to work toward a goal?A. CreativityB. Self-disciplineC. Risk takingD. Flexibility
- 11. Multiple ChoiceGovernments can encourage entrepreneurial development byA. increasing interest rates on loans.B. deregulating and reducing taxes.C. establishing higher ethical standards.D. passing more legislation with strict guidelines
- 12. Multiple ChoiceEntrepreneurs often discover business start-up ideas by looking for gaps between what is currently being done and.A. how things are being doneB. what was done in the past.C. when changes were last made.D. what needs to be done.
- 13. Multiple ChoiceWhat is a trend that affects the growth of entrepreneurial ventures?A. A rise in consumers' desire for slow-response timesB. The shift to an agricultural-based societyC. A higher demand for more convenience productsD. The reduced need for health care and related services
- 14. Multiple ChoiceWhat is a disadvantage of entrepreneurship?A. Fewer resourcesB. Personal satisfactionC. Lower taxesD. Uncertain income
- 15. Multiple ChoiceAlaina needs advice and assistance in starting her new business venture, so she contacted the Service Corpsof Retired Executives (SCORE). Jack, a SCORE volunteer, agreed to act as Alaina's guide in the businessstart-up process. Jack is serving as Alaina'sA. intermediaryB. apprenticeC. entrepreneurD. mentor
- 16. Multiple Choice16.Which of the following sources of start-up information would you recommend to an entrepreneur looking for information about the average start-up and operation costs for a self-serve laundromat:A. Service Corps of Retired ExecutivesB. Coin laundry trade associationC. Local chamber of commerceD. Small business administration
- 17. Multiple Choice17. A reliable source of general business start-up information isA. Wikipedia (www.wikipedia.org/wiki/Entrepreneurship).B. the Project Management Institute (www.pmi.org).C. the Small Business Administration (www.sba.gov).D. the National Retail Federation (www.nrf.com).
- 18. Multiple Choice18.Which of the following is an example of a written business inquiry:A memo outlining an upcoming meeting agendaB. An e-mail requesting vendor pricing and discountsC. A form describing an employee's performance reviewD. A report summarizing annual financial information
- 19. Multiple Choice19.What component is important to include in all types of inquiry letters?A. Contact informationB. Personal qualificationsC. Project specificationsD. Attention-getting title
- 20. Multiple Choice20.When writing a letter of inquiry, when should you identify the purpose of your letter?A. At the beginning of the letterB. After describing your companyC. Once the recipient has agreed to meet with youD. After identifying what prompted your inquiry (such as advertisement)
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