Entrepreneurship, Business Ethics & Global Business

What is the primary characteristic of an entrepreneur?

• High salary

• Risk-averse nature

• Innovation and risk-taking

• Job stability

Which of the following is not a common source of financing for a new venture?

• Personal savings

• Bank loans

• Venture capital

• Friend salary

Which of the following is a characteristic of a sole proprietorship?

• Limited liability for the owner

• Separate legal entity from the owner

• Simple to set up and manage

• Unlimited number of owners

What does "business ethics" refer to?

• Maximizing profits at any cost

• The principles and values that guide business behavior

• Government regulations on business operations

• Employee productivity and efficiency

What is corporate social responsibility (CSR)?

• A government program for regulating businesses

• The legal obligations of a corporation

• A voluntary commitment by a company to act ethically and contribute to the well-being of society

• Maximizing shareholder profits

Which of the following is an example of unethical behavior in business?

• Providing accurate financial statements to shareholders

• Offering fair compensation to employees

• Engaging in price-fixing with competitors

• Donating to charitable organizations

What is globalization in the context of business?

• A strategy to limit business activities to a single country

• The process of expanding business operations and activities internationally

• A focus on domestic markets only

• The avoidance of international trade

What is the term for a business expanding its operations to other countries?

• Localization

• Internationalization

• Domestication

• Isolation

What does "import" mean in the context of global business?

• Selling products to other countries

• Buying products from other countries

• Manufacturing products locally

• Distributing products in the domestic market

What is the term for the exchange of goods and services between countries?

• International trade

• Domestic trade

• Local trade

• Barter trade