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- 1. Multiple ChoiceIn the early stages of a start-up business, entrepreneurs assume sole responsibility forglobal economic growth rates.all aspects of their businessesthe daily activities of competitorsreducing the need for financial records products.
- 2. Multiple ChoiceWhile managers help to make entrepreneurs’ visions a reality, they are NOT required toformulate company policyestablish business objectives.assume the risk involvedimplement procedures
- 3. Multiple ChoiceMany businesses fail due to insufficient capital. Insufficient capital is also known as a lack ofadvertising.moneyemployees.commitment
- 4. Multiple ChoiceWhat is a disadvantage of entrepreneurship?Personal satisfactionUncertain incomeLower taxesFlexible schedule
- 5. Multiple ChoiceTechnological advancements have made it possible for some entrepreneurs toeliminate the need to pay taxesreduce the need for financial records.run their businesses with no resourcesoperate their businesses entirely from their computers
- 6. Multiple ChoiceSuccessful entrepreneurs enjoy their work and often start their businesses so that they can share their interests and enthusiasm with others. In other words, successful entrepreneurs have _______________ what they do.passion forconcerns aboutapathy forreservations about
- 7. Multiple ChoiceEven though there is a significant chance that his business will fail, Sidney intends to open a sports memorabilia shop. What entrepreneurial trait is Sidney exhibiting?OrganizationCreativityOpen-mindednessWillingness to take risks
- 8. Multiple ChoiceBefore starting their business ventures, which of the following would entrepreneurs recognize first:RegulationsOpportunityAssociationsLiability
- 9. Multiple ChoiceEntrepreneurs often discover business start-up ideas by looking for gaps between what is currently being done andwhat was done in the pasthow things are being donewhat needs to be done.when changes were last made
- 10. Multiple ChoiceEntrepreneurs who are aware of their personal strengths and weaknesses increase their chances ofoutsourcingsuccessempathyproductivity
- 11. Multiple ChoiceWhat makes a "small business owner" different from an “entrepreneur”?Small business owners are not risk takers and entrepreneurs are risk takersSmall business owners think big, & entrepreneurs think biggerSmall business owners are content and want to make a living and entrepreneurs want to change the worldBusiness owners do not use technology and entrepreneurs are using the newest and best technology
- 12. Multiple ChoiceWhat is the importance of an entrepreneur in the economy?Entrepreneurs are our community leaders.Entrepreneurs help stabilize and grow the economy with their ability to discover new business.Entrepreneurs make all their own rules and new products come from them.Entrepreneurs rely only on themselves and do not hire anyone else
- 13. Multiple ChoiceJorge is an entrepreneur and owner of 2 successful businesses. Jorge’s colleagues value his ability to come up with new ways of doing things and to find solutions to seemingly impossible problems. What entrepreneurial trait do Jorge' colleagues admire?initiativegoal settingintegritycreativity
- 14. Multiple ChoiceMichelle’s primary reason for starting her own business is her desire to make her own schedule. Michelle is looking forward to the _____________ she hopes to have as an entrepreneur.tax breaks and deductionsflexibility and independenceadvanced technologypersonal commitment
- 15. Multiple ChoiceHow do entrepreneurs develop their skills?By seeking little or no advice from othersBy reducing their flexibilityBy training and continuous practiceBy becoming an autocratic leader
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