Business Ownership/Entrepreneurship Midterm Review #1

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

• True

• False

When an entrepreneur considers whether or not behavior is ethical, both the actions and the result of those actions need to be considered.

• True

• False

A wholesaling business sells products directly to consumer.

• True

• False

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

• True

• False

Entrepreneurial opportunities tend to disappear completely during downturns in the economy.

• True

• False

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

• True

• False

Employees, customers, and creditors are all stakeholders in an entrepreneurs' business.

• True

• False

The Food & Drug Adminstration is an organization that exists to help small businesses and their owners.

• True

• False

"I will learn more about starting a business" is a good example of a SMART goal.

• True

• False

Most people who have their own businesses do so for more than just monetary gain.

• True

• False