Exam 4: What Entrepreneurs Need to Know Before They Start: Acquiring and Interpreting Information About Markets Competitors and Government

In which type of corporation do profits and losses remain in the company,and the corporation pays taxes on any declared profits?

If someone lodges a complaint against a company with the Equal Employment Opportunity Commission,the burden of proof

Research findings show that decisions made by groups are safer and more accurate than decisions made by individuals.

Which of the following questions could be asked by a potential employer without violating government regulations and laws protecting employees from discrimination?

Say that you have an idea for a new product. Before you start a business to produce it,you want to see if people might actually buy it. You build a prototype of the product and show it to people. By doing this,you are conducting a

The process which helps an entrepreneur answer the question,"Is this idea for a new business really viable?" is called

The government designed a program to help minority-owned businesses enter the economic mainstream. It seeks to accomplish this goal by encouraging federal agencies to award a certain percentage of their contracts to what are known as small,disadvantaged businesses. This program is called the

Cognitive science indicates that we are all subject to a strong

Before launching a new company,entrepreneurs need to gather basic information that will let them know

I am thinking about starting a new business to sell a product that I have developed. Part of what I am thinking about is how the potential customers will use the product. However,since I am quite familiar with the needs that this product will satisfy,I believe that the potential customers will use it the same way that I do. This form of thinking represents the (a)

The higher the marginal tax rate in the United States,the lower the rate of self-employment.

When making a decision in a group,sometimes the members of the group will shift toward views that are more extreme than the ones with which they began. This is known as

The first-mover advantage always results in financial success for the business that achieves it.

Many new ventures chose to make their company a Subchapter S corporation,but then,if they grow and prosper,switch to regular status.

Information on how potential customers will evaluate and react to the products or services entrepreneurs provide,and who these potential customers really are is called

Entrepreneurs have had a growing voice in shaping government policy mainly because their contribution to the strength of the economy has been increasingly recognized.

List and describe four factors that can badly distort the interpretation of information when making decisions in a group.

In which type of corporation do profits and losses flow through to the shareholders,and they pay any taxes due as individuals,according to their own tax bracket?

Assume that you are part of a student group that must write a paper for a class. The first part of the project is to state a conclusion about a situation. Several group members have done that,and they have stated their conclusion strongly. You believe just as strongly that the conclusion is in error. However,since most of the other group members have stated their conclusion strongly,you don't want to risk "tearing the group apart." Also,you are now starting to question if you might be "wrong." (In reality,the conclusion stated by the group is in error.) This situation demonstrates