Quiz - Chapter 5 Entrepreneurship

What is true of a long-term investment?

• A "long term" is for less than two years

• The investment includes a savings account

• The value of the investment fluctuates over time.

• "Long-term investing" means "to retire"

Who would NOT be considered an entrepreneur?

• a doctor who starts own practice

• a doctor who is employed by a hospital

• a doctor who writes a book in his spare time

• a doctor who works as a consultant

Which would most likely describe a successful entrepreneur?

• lazy

• shy

• bossy

• self-starter

Which is NOT a small business

• a babysitting team

• a web store

• a fast food chain

• a delivery service consisting of ten teens with bikes

Which is often especially important to a small business?

• creativity

• digitizing

• electronics

• accounting

What is a corporation?

• a business owned by one person

• a person owned by two people

• a business bought out by someone new

• a business with many owners

Which is NOT a reward of entrepreneurship?

• being the boss

• risking capital resources

• doing what you enjoy

• being creative

Why do people have trouble getting money to start their own businesses?

• Banks don't give loans to entrepreneurs.

• Banks give more money to corporations.

• Banks are concerned that they won't be repaid.

• Banks want to own the entrepreneur's business.

What is the most important reason many small businesses fail?

• entrepreneurs feel insecure.

• entrepreneurs sometimes don't start with good financial planning.

• Entrepreneurs work alone too often.

• Entrepreneurs get bought out by bigger companies

What is the immediate future of virtual, or online, businesses?

• More and more are coming on the scene.

• They are on the decline.

• No one can predict what will happen next.

• People aren't as interested in starting them now.