Exam 7: Small Business and Entrepreneurship: Economic Rocket Fuel

Deb is offered a job with a start-up venture named Shop Maestro LLC, which is a retail company. Insurance is included in the pay offered to her. Deb declines the offer because the retail market is quite saturateD)Which of the following small business threats was Deb worried about?

Who among the following individuals is most likely to become a necessity entrepreneur?

The primary reason many people become entrepreneurs is to:

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

Which of the following bodies assists entrepreneurs by guaranteeing loans from local commercial lenders?

People with an external locus of control:

The Small Business Administration microloan program lends an average of $13,000 to start-up businesses through community nonprofit organizations.

Local offices affiliated with the Small Business Administration (SBA)that provide comprehensive management assistance to current and prospective small business owners are known as _________.

Small business start-ups are likely to find that getting commercial loans is:

Which of the following statements is true of necessity entrepreneurship in high-income countries?

Entrepreneurs usually view the world in black and white. They seldom consider the many shades of gray that other people see when they look at the same issues.

Technological developments over the past two decades, such as the rise of the Internet and email, have:

Peter decides to open a large store that sells organic farm produce, but he is not sure about how to obtain the funding he needs to get started.He calculates the start-up funding that he will need as $50,000. What type of funding would be appropriate for this type of business? What are the advantages and disadvantages of this type of funding?

Entrepreneurs find new solutions to old problems and develop new products that people didn't even realize they needed.These entrepreneurs are said to have _____.

Loren LLC is a small bicycle store that competes effectively with much larger companies since it focuses exclusively on selling bicycles for senior citizens and orthopedic patients. The company has been successful since it has:​

When Lucie tells her friends and family about her idea of starting a beauty salon, she does not receive any support and is told that her business would fail. Despite overwhelming negativity, Lucie is certain of her abilities and knowledge on account of her many years of experience in working in a beauty salon. In this case, Lucie displays the entrepreneurial characteristic of _________.

Which of the following is a similarity between venture capital firms and angel investors?

Which of the following is a drawback of buying a franchise?

What three factors explain the wide differences in entrepreneurship rates among countries?

Describe two basic qualities that define successful entrepreneurs.