Business Fundamentals: Chapter 6

What percent of all Americans aged 18-64 is involved in some type of entrepreneurial activity?

• 5
• 10
• 25
• 50

At what age do many entrepreneurs own their first business?

• In their teens
• In their 30s
• In their 50s
• When they retire

The American private enterprise system ___________ risk-taking and innovation:

• Encourages
• Discourages

Most entrepreneurs have a _____ tolerance for ambiguity:

• Low
• High

Which of the following is a good example of an entrepreneur?

• Police officer
• Coffee shop owner
• Walmart cashier
• FedEx delivery driver

Where does most of the money needed to start a new business come from?

• Corporate bonds
• Bank loans
• Personal savings + family and friends
• Who needs money? Starting a business is free!

The majority of Americans are employed by:

• Small businesses
• Large businesses

Where do business ideas come from?

• Books
• Business experiences
• Interests
• All of these

According to the SBA, a small business has less than ___ employees:

• 500
• 100
• 50
• 10

The most important step in starting a business is:

• Developing charisma and confidence
• Hiring employees
• Preparation and planning
• Advertising