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- Multiple ChoicePlease save your changes before editing any questions.An entrepreneurworks for someone elsemust employ more than five employeesis responsible for his or her business successmust take college level courses
- Multiple ChoicePlease save your changes before editing any questions.Entrepreneurs have a great need forpersonal freedomtaking risksmaking a lot of moneyall the above
- Multiple ChoicePlease save your changes before editing any questions.Which of the following is a reward of being an entrepreneur?making your own hoursacting on your own decisionsdoing work you enjoyall the above
- Multiple ChoicePlease save your changes before editing any questions.________ is the chance of losing somethingRiskRewardenginebusiness
- Multiple ChoicePlease save your changes before editing any questions.The Small Business Administration defines a small, non-manufacturing business as having fewer than ________ employees2550100200
- Multiple ChoicePlease save your changes before editing any questions.The ability to perform a specific kind of task after practice is referred to as havingan aptitudea skillan attitudeself-esteem
- Multiple ChoicePlease save your changes before editing any questions.Which of the following is not generally a personal characteristic of a successful entrepreneur?couragecautiousnesscreativitycuriosity
- Multiple ChoicePlease save your changes before editing any questions.What percentage of business owners used money of their own, or from their families, to start or buy a business?less than 20 %between 20% and 40%between 40% and 60%more than 60 %
- Multiple ChoicePlease save your changes before editing any questions.Which of the following would not be provided by a mentor?guidancetutoringfinancial securitysuggestions for achieving goals
- Multiple ChoicePlease save your changes before editing any questions.One of the characteristics of a successful entrepreneur is ________, a commitment to being truthful and sincere with others.honestybookkeepingcomputer skillscreativity
- Multiple ChoicePlease save your changes before editing any questions.A characteristic of a successful entrepreneur is ________—inventing new ways of doing things and "thinking outside the box."honestybookkeepingcomputer skillscreativity
- Multiple ChoicePlease save your changes before editing any questions.According to Small Business Administration research, the number of women and minority entrepreneurs has steadily ________ in recent years.increaseddecreasedstayed the samejumped
- Multiple ChoicePlease save your changes before editing any questions.Successful entrepreneurs need _______ skills so they can create budgetscommunicationmathwritingexecutive
- Multiple ChoicePlease save your changes before editing any questions.Another name for "business" iscapitalenterpriseeconomic systemexchange
- Multiple ChoicePlease save your changes before editing any questions.The United States has which type of economic system?commandsocialistmarketcommunist
- Multiple ChoicePlease save your changes before editing any questions.Economics isa social sciencethe study of how economies workthe study of how people satisfy their wants and needsall of the above
- Multiple ChoicePlease save your changes before editing any questions.In economic terms, scarcity occurs whentoo much money is chasing too many goods or servicesthere is not enough of a good or service to meet the demand for itnot enough money is available for people to buy thingsnatural resources have been used up
- Multiple ChoicePlease save your changes before editing any questions.In a command economy, the government controlspricesownershippropertyall of the above
- Multiple ChoicePlease save your changes before editing any questions.
The fastest growing category of industries in the U.S. is ________ industry
local
service
retail
manufacturing
- Multiple ChoicePlease save your changes before editing any questions.One of the first questions an entrepreneur must answer is: Is there a(n) ________ for my product or service?servicecapitalismdemandcommand
- Multiple ChoicePlease save your changes before editing any questions.When a musical work is created, it is protected by acopyrightpatenttrademarknone of the above
- Multiple ChoicePlease save your changes before editing any questions.A device or process can be protected by atrademarkcopyrightpatentall of the above
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is the of "C" of a business plan that deals with the business idea?
cash
cooperation
concept
competition
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is NOT one of "The Three C's" of a business plan?
concept
challenge
customer
capital
- Multiple ChoicePlease save your changes before editing any questions.Values shared by all cultures throughout history are called ________ values.universalchallengingtransparentcompetition
- Multiple ChoicePlease save your changes before editing any questions.You can recognize potential business ideas from which of the following sources?changes in lawsnew discoveriesproblems that need solvedall of the above
- Multiple ChoicePlease save your changes before editing any questions.Which of the following attitudes make it difficult to be creative?being judgmentalbeing afraid of failurebeing inflexibleall of the above
- Multiple ChoicePlease save your changes before editing any questions.The first step in creating a new business is the ________ phaseideationsillyinnovationresistance
- Multiple ChoicePlease save your changes before editing any questions.The franchise buyer, the right to sell the company’s products or services in a particular location for a specified amount of time.leaseefranchiseefranchisor
- Multiple ChoicePlease save your changes before editing any questions.Your hobbies, talents, & interest are __ of opportunityexternalinternalexisiting
- Multiple ChoicePlease save your changes before editing any questions.Which of the following is NOT a screening question?Does the idea fill a need or want not being met?Do I like my idea?Where will they buy it? (location or online)
- Multiple ChoicePlease save your changes before editing any questions.
Trade shows are a(n)___ source of opportunity
external
internal
a waste of time
monetary
- Multiple ChoicePlease save your changes before editing any questions.Which of the following is not part of a SWOT analysis?strengthsweaknessesthreatsorganizations
- Multiple ChoicePlease save your changes before editing any questions.When performing a SWOT analysis of a business opportunity, your competitors would be classified as astrengthoptionweaknessthreat
- Multiple ChoicePlease save your changes before editing any questions.A(n) _____ risk is one that has been carefully evaluated using such tools as cost/benefit analysis or SWOT analysisstronglowcalculatedthreat
- Multiple ChoicePlease save your changes before editing any questions.
A business that converts materials into goods and then sells those goods to others
manufacturing
service
retail
wholesale
- Multiple ChoicePlease save your changes before editing any questions.
The business type that sells & provides Internet service to residential customers.
manufacturer
service provider
retailer
wholesaler
- Multiple ChoicePlease save your changes before editing any questions.______ businesses buy goods and resell them in small quantities directly to consumers, who are the final buyersmanufacturingserviceretailwholesale
- Multiple ChoicePlease save your changes before editing any questions.
______ businesses buy goods in very large batches and resell the goods in batches to customers who are not the final buyers
manufacturing
service
retail
wholesale
- Multiple ChoicePlease save your changes before editing any questions.A legally defined type of business ownership in which a single individual owns the businesssole proprietorshippartnernershipLLCcorporation
- Multiple ChoicePlease save your changes before editing any questions.A legally defined business organization in which at least two individuals share the management, profit, and liability of a businesssole proprietorshippartnernershipLLCcorporation
- Multiple ChoicePlease save your changes before editing any questions.A legally defined type of business ownership in which the business is considered a “person” under the law, and limited liability is granted to the business owner(s).sole proprietorshippartnernershipLLCcorporation
- Multiple ChoicePlease save your changes before editing any questions.When businesses act in ways that balance profit and growth with the good of society.mission statementvision statementsocial responsibilitycorporation
- Multiple ChoicePlease save your changes before editing any questions.A statement describes why a company exists and guides a company’s work and actionsmission statementvision statementsocial responsibilitycorporation
- Multiple ChoicePlease save your changes before editing any questions.
The goal of a business is stated in the Mission statement and then it is supported in the _____.
mission statement
vision statement
social responsibility
corporation
- Multiple ChoicePlease save your changes before editing any questions.
Businesses have an obligation (of good faith/business) to
employees
customers
suppliers
all of the above
- Multiple ChoicePlease save your changes before editing any questions.
Using a cause or charity to promote your business.
philanthropy
volunteering
sponsorship
cause marketing
- Multiple ChoicePlease save your changes before editing any questions.Your _______ measures the amount of carbon you use and thus release into the atmospherecarbon footprintcarbon handprintgreenwashingphilanthropy
- Multiple ChoicePlease save your changes before editing any questions.One way to lower expenses while helping the environment includesUsing environmentally friendly transportationDoing business electronicallyBuying supplies in bulkall of the above
- Multiple ChoicePlease save your changes before editing any questions.
Approximately __% of people work for small businesses and small businesses make up approximately ___% of the GDP.
20%, 40%
90%, 50%
60%, 40%
75%, 20%