Chapter 6 Intro to Business Review

The Salvation Army and the United Way are examples of which type of business?

• 
  sole proprietorship

• partnership

• franchise

• nonprofit organization

An possible advantage of entrepreneurship is working from home.

• True

• False

A disadvantage of entrepreneursip is total responsibility for the business.

• true

• false

A small business employs fewer than ______ people.

• 500

• 100

• 50

• 1000

Small businesses generate more than half of the nation's income.

• True

• False

Small businesses account for about ______ percent of jobs in high technology.

• 38

• 48

• 28

• 18

Small businesses employ more than 50% of the total workforce in the United States.

• True

• False

One advantage of a small busines is that when you're a small business owner, you have a large number of people helping you make decisions.

• True

• False

About 4 out of 5 small businesses fail in their first five years.

• True

• False

An advantage of a small business is that as a business owner, you might underprice or overprice your goods or services.

• True

• False