Small Business & Entrepreneurship chapter#5

Front

Which of the following is NOT a role of small business in the American economy according to the slide? Job creation, Innovation, Exporting, Market analysis

Back

Market analysis

Front

Which of the following industries is NOT listed as one that attracts small business?
Retailing and wholesaling, Services, Manufacturing, Agriculture

Back

Agriculture

Front

Which industry is considered attractive to small businesses due to technological advancements?

Back

High Technology

Front

Which of the following is NOT listed as an advantage of small business ownership? Independence, Costs, Flexibility, Market Share

Back

Market Share

Front

What is one of the advantages of small business ownership that can affect the personal satisfaction of the business owner? Options: Independence, Costs, Market Share, Economy of Scale

Back

Independence

Front

Which advantage of small business ownership can lead to a more personalized approach to customers? Options: Economy of Scale, Market Share, Focus, Costs

Back

Focus

Front

What percentage of new businesses fail within the first 5 years according to the slide?

Back

90%

Front

Which of the following is NOT listed as a disadvantage of small-business ownership? High Stress Level, Undercapitalization, Managerial Inexperience, Easy Work-Life Balance

Back

Easy Work-Life Balance

Front

What does undercapitalization refer to in the context of small-business ownership?

Back

Lack of funds to operate a business normally

Front

Which disadvantage of small-business ownership is related to the skills and abilities of the management team?

Back

Managerial Inexperience or Incompetence