Question 1

Franchise is a type of license purchased by a franchisee from a franchisor to allow them to trade under the name of that business.

Accepted Answer

A) True 
 B)False  True

Question 2

Professor Yunus of the Grameen Bank placed borrowers into small groups and lent to a few; the others would qualify for their loans when the first group began paying their loans back.This process created ______.

Accepted Answer

A) motivation, accountability, and empowerment 
B) competition and greed 
C) respect among the women in this cultural setting 
D) respect from the men 
A) motivation, accountability, and empowerment 
B) competition and greed 
C) respect among the women in this cultural setting 
D) respect from the men A

Question 3

Serial entrepreneurs are ______.

Accepted Answer

A) in real estate linking real estate purchases in a series of several LLCs attached with similar names like "Neck Properties I," "Neck Properties II," " Neck Properties III," and so on 
B) people who start several businesses, whether at the same time or one after another 
C) business owners in the IT market 
D) business owners developing their business vertically from source to sale 
A) in real estate linking real estate purchases in a series of several LLCs attached with similar names like "Neck Properties I," "Neck Properties II," " Neck Properties III," and so on 
B) people who start several businesses, whether at the same time or one after another 
C) business owners in the IT market 
D) business owners developing their business vertically from source to sale B

Question 4

Bob, a young person with ideas for his own business, is from a small town and he has no hope of becoming a successful entrepreneur because he does not have the media presence of Gates, Jobs, Zuckerberg, or Musk.This faulty thinking is due to ______.

Accepted Answer

A) media images of entrepreneurs 
B) lack of confidence 
C) not living in one of the largest cities in the United States 
D) not knowing any politicians 
A) media images of entrepreneurs 
B) lack of confidence 
C) not living in one of the largest cities in the United States 
D) not knowing any politicians

Question 5

A family enterprise is ______.

Accepted Answer

A) a family farm that has been in the family for generations and does things the same way it always has 
B) owned and managed by multiple family members. Each generation has an opportunity to bring the organization forward in new, innovative ways. 
C) another name for a partnership between husband and wife 
D) a sole proprietorship that hires the owner's spouse and children 
A) a family farm that has been in the family for generations and does things the same way it always has 
B) owned and managed by multiple family members. Each generation has an opportunity to bring the organization forward in new, innovative ways. 
C) another name for a partnership between husband and wife 
D) a sole proprietorship that hires the owner's spouse and children

Question 6

In the knowledge economy, ______.

Accepted Answer

A) patent laws were enacted to protect the legal ownership of intangible properties 
B) changes in patent laws made it easier for entrepreneurs to register their inventions 
C) libraries were created 
D) cloud services were created 
A) patent laws were enacted to protect the legal ownership of intangible properties 
B) changes in patent laws made it easier for entrepreneurs to register their inventions 
C) libraries were created 
D) cloud services were created

Question 7

Women want to become entrepreneurs ______.

Accepted Answer

A) for the same reasons as men: to support themselves and their families,  to attain fulfillment of having a career, and to satisfy a desire for financial independence 
B) for universal reasons worldwide, to attain fulfillment of having a career, and financial independence 
C) to not fear poverty 
D) so they can fall back on their husbands and family members if they fail 
A) for the same reasons as men: to support themselves and their families,  to attain fulfillment of having a career, and to satisfy a desire for financial independence 
B) for universal reasons worldwide, to attain fulfillment of having a career, and financial independence 
C) to not fear poverty 
D) so they can fall back on their husbands and family members if they fail

Question 8

Which of the following is NOT a truth about entrepreneurship?

Accepted Answer

A) Entrepreneurship is reserved for startups. 
B) Entrepreneurship can be taught, as it is a method that requires practice. 
C) Entrepreneurs collaborate more than they compete. 
D) Entrepreneurship is a life skill. 
A) Entrepreneurship is reserved for startups. 
B) Entrepreneurship can be taught, as it is a method that requires practice. 
C) Entrepreneurs collaborate more than they compete. 
D) Entrepreneurship is a life skill.

Question 9

Sources of funding of small amounts, for a very short time, available in developing countries are called ______.

Accepted Answer

A) charitable contributions 
B) business loans 
C) microloans 
D) miniloans 
A) charitable contributions 
B) business loans 
C) microloans 
D) miniloans

Question 10

Microloans are loans of any size given to individual in a small market.

Accepted Answer

A) True 
 B)False

Question 11

Corporate entrepreneurs ______.

Accepted Answer

A) are simply employees with an entrepreneurial spirit 
B) cannot exist as corporations and are too huge to manage entrepreneurs 
C) are the backbone for corporations wanting to become public 
D) tend to explore new possibilities and seek ways in which an organization's current structure and process can enable innovation 
A) are simply employees with an entrepreneurial spirit 
B) cannot exist as corporations and are too huge to manage entrepreneurs 
C) are the backbone for corporations wanting to become public 
D) tend to explore new possibilities and seek ways in which an organization's current structure and process can enable innovation

Question 12

Who made the following statement: "You're the job creators, responsible for half of all private sector jobs.You're innovators, producing 13 times more patents per employee than large companies."?

Accepted Answer

A) the Department of Labor and Economic Development Director 
B) President Barack Obama, in the White House ceremony honoring National Small Business Week award winners 
C) the secretary of state of New York 
D) the Secretary-General of the United Nations General Assembly 
A) the Department of Labor and Economic Development Director 
B) President Barack Obama, in the White House ceremony honoring National Small Business Week award winners 
C) the secretary of state of New York 
D) the Secretary-General of the United Nations General Assembly

Question 13

Sally decided to look into buying a franchise as her entrance into entrepreneurism.Which of the following is a benefit of franchising?

Accepted Answer

A) royalties or a percentage of sales to be paid to the franchisor every month 
B) strict franchisors' rules with no wiggle room 
C) Most products and supplies need to be purchased from the franchisor. 
D) technology designed to help manage customers and administration 
A) royalties or a percentage of sales to be paid to the franchisor every month 
B) strict franchisors' rules with no wiggle room 
C) Most products and supplies need to be purchased from the franchisor. 
D) technology designed to help manage customers and administration

Question 14

What makes a country more entrepreneurial than another?

Accepted Answer

A) It is simply a matter of economics and the level to which a country has developed. 
B) Conditions need to be in place to help small and medium businesses to flourish, including support from the government, education, entry regulation, physical infrastructure, and cultural and social norms. 
C) the import-export relationships with the United States and the European Economic Community 
D) The population drives the market; the larger the population, the more supportive a country can be to the entrepreneurs. 
A) It is simply a matter of economics and the level to which a country has developed. 
B) Conditions need to be in place to help small and medium businesses to flourish, including support from the government, education, entry regulation, physical infrastructure, and cultural and social norms. 
C) the import-export relationships with the United States and the European Economic Community 
D) The population drives the market; the larger the population, the more supportive a country can be to the entrepreneurs.

Question 15

Compare and contrast the pros and cons of owning a franchise.

Accepted Answer

The answer of Compare and contrast the pros and cons...

Question 16

Collaboration with which of the following groups can increase efficiency and generate new ideas?

Accepted Answer

A) your employees and family members 
B) your customers 
C) your customers, suppliers, and competitors 
D) your college friends and classmates 
A) your employees and family members 
B) your customers 
C) your customers, suppliers, and competitors 
D) your college friends and classmates

Question 17

Pierre, a farmer using vermiculture techniques, is very thankful that he has the freedom to have developed the confidence to choose to be an entrepreneurial farmer.Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, he needs ______.

Accepted Answer

A) cultural and social norms 
B) physical infrastructure 
C) entry regulation 
D) commercial and legal infrastructure 
A) cultural and social norms 
B) physical infrastructure 
C) entry regulation 
D) commercial and legal infrastructure

Question 18

Sally decided to look into buying a franchise as her entrance into entrepreneurism.Which of the following is NOT a benefit of franchising?

Accepted Answer

A) A whole franchise network exists to reach out to for help and advice. 
B) potential competition from other franchise owners 
C) Real estate resources exist to help source the best location for your franchise. 
D) In-house personnel and field reps are available to help you and your business succeed. 
A) A whole franchise network exists to reach out to for help and advice. 
B) potential competition from other franchise owners 
C) Real estate resources exist to help source the best location for your franchise. 
D) In-house personnel and field reps are available to help you and your business succeed.

Question 19

With the economy shifting from production and manufacturing to a service- and knowledge-based economy, the tech entrepreneur was born and characterized as ______.

Accepted Answer

A) the sons and daughters of prior generations of entrepreneurs 
B) millennials who will make up 75% of the workforce by 2025 and will be the most educated and exposed to entrepreneurial education 
C) a global citizen constantly seeking outsourcing opportunities 
D) focused on developing the next app that will sweep the nation 
A) the sons and daughters of prior generations of entrepreneurs 
B) millennials who will make up 75% of the workforce by 2025 and will be the most educated and exposed to entrepreneurial education 
C) a global citizen constantly seeking outsourcing opportunities 
D) focused on developing the next app that will sweep the nation

Question 20

Bill Gates was an overnight success because it took only three months to become a success.

Accepted Answer

A) True 
 B)False

Franchise is a type of license purchased by a franchisee from a franchisor to allow them to trade under the name of that business.

Professor Yunus of the Grameen Bank placed borrowers into small groups and lent to a few; the others would qualify for their loans when the first group began paying their loans back.This process created ______.

Serial entrepreneurs are ______.

Bob, a young person with ideas for his own business, is from a small town and he has no hope of becoming a successful entrepreneur because he does not have the media presence of Gates, Jobs, Zuckerberg, or Musk.This faulty thinking is due to ______.

A family enterprise is ______.

In the knowledge economy, ______.

Women want to become entrepreneurs ______.

Which of the following is NOT a truth about entrepreneurship?

Sources of funding of small amounts, for a very short time, available in developing countries are called ______.

Microloans are loans of any size given to individual in a small market.

Corporate entrepreneurs ______.

Who made the following statement: "You're the job creators, responsible for half of all private sector jobs.You're innovators, producing 13 times more patents per employee than large companies."?

Sally decided to look into buying a franchise as her entrance into entrepreneurism.Which of the following is a benefit of franchising?

What makes a country more entrepreneurial than another?

Compare and contrast the pros and cons of owning a franchise.

Collaboration with which of the following groups can increase efficiency and generate new ideas?

Pierre, a farmer using vermiculture techniques, is very thankful that he has the freedom to have developed the confidence to choose to be an entrepreneurial farmer.Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, he needs ______.

Sally decided to look into buying a franchise as her entrance into entrepreneurism.Which of the following is NOT a benefit of franchising?

With the economy shifting from production and manufacturing to a service- and knowledge-based economy, the tech entrepreneur was born and characterized as ______.

Bill Gates was an overnight success because it took only three months to become a success.

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Planning for Entrepreneurs

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

Filters

Exam 1: Entrepreneurship: a Global Social Movement

Franchise is a type of license purchased by a franchisee from a franchisor to allow them to trade under the name of that business.

Professor Yunus of the Grameen Bank placed borrowers into small groups and lent to a few; the others would qualify for their loans when the first group began paying their loans back.This process created ______.

Serial entrepreneurs are ______.

Bob, a young person with ideas for his own business, is from a small town and he has no hope of becoming a successful entrepreneur because he does not have the media presence of Gates, Jobs, Zuckerberg, or Musk.This faulty thinking is due to ______.

A family enterprise is ______.

In the knowledge economy, ______.

Women want to become entrepreneurs ______.

Which of the following is NOT a truth about entrepreneurship?

Sources of funding of small amounts, for a very short time, available in developing countries are called ______.

Microloans are loans of any size given to individual in a small market.

Corporate entrepreneurs ______.

Who made the following statement: "You're the job creators, responsible for half of all private sector jobs.You're innovators, producing 13 times more patents per employee than large companies."?

Sally decided to look into buying a franchise as her entrance into entrepreneurism.Which of the following is a benefit of franchising?

What makes a country more entrepreneurial than another?

Compare and contrast the pros and cons of owning a franchise.

Collaboration with which of the following groups can increase efficiency and generate new ideas?

Pierre, a farmer using vermiculture techniques, is very thankful that he has the freedom to have developed the confidence to choose to be an entrepreneurial farmer.Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, he needs ______.

Sally decided to look into buying a franchise as her entrance into entrepreneurism.Which of the following is NOT a benefit of franchising?

With the economy shifting from production and manufacturing to a service- and knowledge-based economy, the tech entrepreneur was born and characterized as ______.

Bill Gates was an overnight success because it took only three months to become a success.

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Planning for Entrepreneurs

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

Filters