Question 1

________ are pioneers of innovations thatbenefit humanity.

Accepted Answer

A)  Classic entrepreneurs
B)  Change agents
C)  Atypical entrepreneurs
D)  Social entrepreneurs D

Question 2

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

Accepted Answer

The four main reasons for becoming an entrepreneur include a desire to be your own boss,succeed financially,attain job security,and improve the quality of your life.

Question 3

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.

Accepted Answer

A) True 
 B)False  False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

The answer of Describe the differences between entrepreneurs and small-business...

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

The answer of List the three factors that have contributed...

Question 10

Entrepreneurs take credit for both their successes and failures.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

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 ________.

Accepted Answer

A)  become his own boss
B)  obtain job security
C)  succeed financially
D)  improve his quality of life

Question 14

Most entrepreneurs believe that:

Accepted Answer

A)  They have a product that will change the world
B)  They are smarter than their peers
C)  The 9 to 5 work day is immoral
D)  They won't achieve their greatest success by working for someone else

Question 15

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?

Accepted Answer

A)  creativity
B)  tolerance for failure
C)  high energy level
D)  self-confidence

Question 16

Entrepreneurs are always managers,but managers are NOT always entrepreneurs

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

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):

Accepted Answer

A)  serial entrepreneur.
B)  social entrepreneur.
C)  lifestyle entrepreneur.
D)  classic entrepreneur.

Question 19

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

Accepted Answer

A)  information technology
B)  globalization
C)  education
D)  the rise of service industries

Question 20

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 ________.

Accepted Answer

A)  become her own boss
B)  increase her job security
C)  guarantee her financial success
D)  enjoy a higher quality of life

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 ________.