Exam 6: Starting Your Own Business

________ are pioneers of innovations thatbenefit humanity.

Discuss the four motives frequently cited as major reasons why people become entrepreneurs.

David began a lumber company and ran it for five years.Afterward,he started up a paper company and then an office company.David is a social entrepreneur.

Most entrepreneurs are skeptical of using social media to promote their businesses.

As a rule,entrepreneurs believe in their ability to succeed.

Describe the differences between entrepreneurs and small-business owners and managers

In some ways,creating a franchise is less risky than establishing an entire new firm.

There is very little the government can do to encourage entrepreneurship.

List the three factors that have contributed to the expansion in entrepreneurship.

Entrepreneurs take credit for both their successes and failures.

Elon Musk,founder of PayPal,is a serial entrepreneur.

Venture capitalists take an equity stake in businesses in which they invest their funds.

Collin works for a large bank that recently merged with another financial institution.Word of layoffs has been discussed.Collin is most likely to become an entrepreneur in order to ________.

Most entrepreneurs believe that:

Pat routinely bids on contracts even though most of the other bidders are extremely large firms.Pat believes his company offers better service at lower prices.He is exhibiting which personality trait common in entrepreneurs?

Entrepreneurs are always managers,but managers are NOT always entrepreneurs

An important part of launching any new business is establishing a code of ethics.

After starting a web design company while still in college,Rodrigo sold the company after graduation.He then opened a computer repair shop;and most recently,he has started a marketing firm that specializes in social media.Rodrigo is an example of a(n):

Which of the following has contributed the LEAST to the boom in entrepreneurship?

Dina is a single mother who is required to work evenings and weekends at a local retail store.She is thinking of starting a consulting business primarily so she can ________.