Entrepreneurship 1 Standard 1.01-1.04

Small businesses have a positive effect on the local community because they:

• A. reduce competition.
• B. pay taxes.
• C. limit job growth.
• D. charge interest

What is one of the main reasons why small businesses are strongly promoted and supported by local government?

• A. They serve only their local communities.
• B. They are owned by one person.
• C. They may become a big business.
• D. They are important to the economy.

Which of the following statements is most likely to have a negative effect on domestic small-business growth:

• A. Involuntary tax reductions
• B. Restrictive loan policies
• C. Low interest rates
• D. Slow inflation

Which of the following statements is true about entrepreneurship and small business growth:NCCTE.9_12.SH.ME11.1.01RBT:..

• A. Trade regulations have very little effect on small-business growth
• B. Many people start entrepreneurial ventures during times of economic recession.
• C. Small business start-ups are taxed at a higher rate than multinational companies
• D. Consumer spending is a primary factor that influences entrepreneurial success.

Even when times are tough for Caitlin's business venture, she tends to remain positive- she looks at the glassas half full rather than half empty. What characteristic of entrepreneurship is Caitlin exhibiting?

• A. Organization
• B. Optimism
• C. Innovation
• D. Determination

Home-based businesses are attractive to many people because the businesses generally.

• A. yield higher profit margins
• B. provide owners a steady income.
• C. have lower start-up costs.
• D. require less technical training.

Successful entrepreneurs enjoy their work and often start their businesses so that they can share theirinterests and enthusiasm with others. In other words, successful entrepreneurs have __________ what they do.

• A. reservations about
• B. concerns about
• C. apathy for
• D. passion for

Which of the following is a financial concern that entrepreneurs often face when starting new businesses:

• A. Irregular paychecks
• B. Long working hours
• C. Shorter vacations
• D. Lower production standards

Which of the following statements is true regarding training for entrepreneurial ventures:

• A. Once entrepreneurs are educated or trained in their business field, they rarely need further education.
• B. Most successful entrepreneurs have degrees from four-year colleges or universities.
• C.The type of training and education that entrepreneurs need depends on the nature of the start-up business.
• D. Most entrepreneurs must pass state-mandated exams to operate their business.

What behavior is exhibited when an individual recognizes the possibility of an undesirable outcome and continues to work toward a goal?

• A. Creativity
• B. Self-discipline
• C. Risk taking
• D. Flexibility