Entrepreneurship Chapter 1

Almost all entrepreneurs are middle-aged people with prior business experience.

• True

• False

Though there are more small businesses in the United States than large businesses, it is the large businesses that create the most jobs.

• True

• False

“I will learn more about starting my own business” is a good example of a SMART goal.

• True

• False

More than half of all new businesses do not survive beyond four years.

• True

• False

People who own, operate, and take the risk of a business venture are called

• Employees

• Executives

• Entrepreneurs

• Managers

Small firms with fewer than 500 employees represent about _____ percent of all businesses in the United States.

• 25

• 50

• 75

• 99

Which of the following would generally NOT be considered a desirable characteristic of a good team member?

• Committed

• Cooperative

• Confrontational

• Creative

The FINAL step of the problem-solving model is to

• evaluate the action

• gather information

• take action

• select the best option

Thoughts or concepts that come from creative thinking are called

• advantages

• opportunities

• insights

• ideas

Of the 16 businesses located at the Tri-City Shopping Center, one-quarter are service businesses. How many service businesses are located at the shopping center

• 1

• 2

• 3

• 4