OTB Chapter 5

The internet is not a good arena for entrepreneurs to sell products and services.

• True

• False

Business plans should not be completed quickly or without detail.

• True

• False

A vast majority of small businesses fail and are closed within 5 years.

• True

• False

Most businesses in the US are large corporations.

• True

• False

Most entrepreneurs are not risk takers.

• True

• False

Many people start a business when they discover they can fulfill a need or want in society.

• True

• False

Most successful entrepreneurs have no experience.

• True

• False

A self-disciplined worker is one who improves his or her performance when prompted by someone else.

• True

• False

Which part of a business is the owner responsible for?

• Everything

• Only the inventory

• Only the hiring and firing

• Only customer relations

• Only accounting

Which is a disadvantage of being an entrepreneur?

• Working from home

• Working long hours

• Being self-motivated

• Having the freedom to make own choices