Bus 508 Chapter 6 Week 3 Quiz
Question 1
Some entrepreneurs do not find creative ways to obtain equity financing.
Answer
True
False
Question 2
The freedom to make all the decisions—being your own boss—is one of the biggest lures of entrepreneurship.
Answer
True
False
Question 3
Growth in entrepreneurship is not a worldwide phenomenon.
Answer
True
False
Question 4
Bill Gates and Paul Allen launched ________ with the vision of a computer on every desk and in every home, all running software.
Answer
Apple
Yahoo
Microsoft
Question 5
Dealing with unexpected events is not the norm for most entrepreneurs.
Answer
True
False
Question 7
________ has further transformed the business environment for entrepreneurs.
Answer
Project management
Social networking
Commercials
Entrepreneurship
Question 8
An ________ is a risk taker in the private enterprise system, a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business.
Answer
Consumer
Entrepreneur
Executive
Employee
Question 9
Growth in entrepreneurship is not a worldwide phenomenon.
Answer
True
False
Question 10
Even entrepreneurs who have not previously received funding from banks have experienced a credit crunch in recent years.
Answer
True
False
Question 11
To secure ________, entrepreneurs exchange a share of ownership in their company for money supplied by one or more investors.
Answer
Equity financing
Quality financing
Open financing
Closed financing
Question 12
________ are wealthy individuals who invest money directly in new ventures in exchange for equity, are a larger source of investment capital for start-up firms.
Answer
Logical investors
Angel investors
Small investors
Cooperative investors
Question 13
The following can be classified as the different types of entrepreneurs, except:
Answer
Class entrepreneurs
Serial entrepreneurs
Social entrepreneurs
Basic entrepreneurs
Question 14
________ are employees who direct the efforts of others to achieve an organization’s goals.
Answer
Customers
Managers
Owners
Partnerships
Question 15
Demographic trends—including the aging of the U.S. population, the growth of ethnic groups, and the predominance of two-income families—create opportunities for entrepreneurs.
Answer
True
False
Question 16
A ________ project is initiated by an employee who conceives an idea, convinces top management of its potential, and then recruits human and other resources from within the company to turn the idea into a commercial project.
Answer
Skunkworks
Cooperative
Open market
Innovation
Question 17
________ seems to be the key to business start-ups, especially in rapidly changing markets.
Answer
Competitiveness
Flexibility
Financing
Capital
Question 18
Entrepreneurs have an internal locus of control, which means they believe that they control their own destinies.
Answer
True
False
Question 19
Many Boomers also plan to work after retirement from traditional jobs or careers, either because they want to or in order to boost income and savings.
Answer
True
False
Question 20
Like buying an established business, buying a franchise offers a less risky way to begin a business than starting an entirely new firm.
Answer
True
False
