ENT 6-2 Entrepreneurism’s Impact on Society

What are some factors contributing to the growth of entrepreneurism and small business start-ups?

• Access to technology

• Globalization of companies and economies

• Independence from traditional corporate roles

• All of the above

What is the gig economy?

• A type of economy where only large corporations dominate

• An economy based on temporary and flexible jobs

• An economy focused on manufacturing and production

• An economy driven by government policies

Why is competition considered beneficial for entrepreneurism?

• Competition leads to higher profits for entrepreneurs

• Competition helps entrepreneurs become more innovative

• Competition discourages people from starting their own businesses

• Competition has no impact on entrepreneurism

What is one of the reasons small businesses have a positive impact on society?

• Small businesses contribute to economic activity

• Small businesses discourage innovation

• Small businesses have no impact on employment

• Small businesses rely on government funding

What percentage of private sector employees do small businesses employ in the United States?

• Less than 10%

• Around 25%

• Over 50%

• Nearly 90%

How do small businesses contribute to the economy?

• By paying taxes

• By providing charitable donations

• By sponsoring local sports teams

• All of the above

What is one way small businesses support their communities?

• By exporting goods to other countries

• By providing scholarships and grants

• By investing in large corporations

• By promoting economic inequality

Which group of people are particularly inclined towards pursuing entrepreneurism?

• Generation X

• Baby Boomers

• Generation Y and Z

• Retirees

What role do small businesses play in innovation?

• Small businesses are not involved in innovation

• Small businesses contribute to a small percentage of patents

• Small businesses are the major source of innovation

• Large businesses are solely responsible for innovation

What is the main reason entrepreneurs start and run businesses?

• To have an impact on society

• To accumulate personal wealth

• To compete with large corporations

• To avoid traditional employment