Exam 7: Small Business Entrepreneurship: Economic Rocket Fuel

Suresh quits his nine-to-five job at a multinational company and starts his own event management company. In his new company, he does not practice a nine-to-five work regime. Instead, he organizes meetings with clients by making appointments that favor his schedule. Which of the following advantages of entrepreneurship is highlighted in the given scenario?

In the context of small business opportunities, which of the following statements is true of market niches?

Which of the following is one of the largest crowdfunding sites in terms of traffic?

Caroline owns an online jewelry store. She has developed a smartphone application for her business that allows her customers to take their pictures and try out virtual jewelry over those pictures before placing the orders. The opportunity of _____ is highlighted in the given scenario.

In low-income countries, a high percentage of entrepreneurs are considered _____.

_____ is a deep-seated sense that forces other than the individual are responsible for what happens in his or her life.

In the context of the U.S. economy, small firms tend to be effective innovators because of the presence of revolutionary new ideas.

Buying an established business is a better plan than starting your business from scratch because:

Which of the following pieces of information is found in the U.S Small Business Administration (SBA) resources?

Self-reliance is a characteristic that most successful entrepreneurs possess.

Vincent runs a small company that manufactures hand-stitched custom leather shoes for men. His products generally attract young, wealthy entrepreneurs who care about their comfort and style. Being a unique business, it does not have much competition and enjoys monopoly. The opportunity of _____ is highlighted in the given scenario.

Which of the following is an advantage of starting a business from scratch?

Which of the following statements is true of people with an external locus of control?

Wendy quit her job as the regional manager of Rubicon Inc., a multinational company, and started her own fashion boutique. Within two years, she began earning more than what she earned during her tenure at Rubicon. Which of the following advantages of entrepreneurship is highlighted in the given scenario?

Who among the following is the most appropriate person to start his or her own venture?

Which of the following funding options provides advice and guidance to start-up businesses along with the funds?

Howard is a young entrepreneur who has invested in creating a new form of social media. He is sure of his idea and believes that it will be successful in the long run. However, he is careful not to be overoptimistic about it and works on other ideas as well. In the given scenario, which of the following statements is true of Howard?

Which of the following statements is true of funding options for small businesses?

The U.S Small Business Administration (SBA) microloan program lends an average of $50,000 to start-up businesses through community nonprofit organizations.

Which of the following statements is true of starting a business from scratch?