Entrepreneurship Quiz

What is the definition of entrepreneurship?

• The process of starting and operating a new business

• The act of buying and selling goods

• The management of a large corporation

• The study of economic theories

Why is small business important in the U.S. economy?

• It creates a monopoly

• It provides employment and innovation

• It reduces competition

• It increases government control

What is one advantage of small-business ownership?

• Limited decision-making power

• High initial investment

• Flexibility and independence

• Guaranteed success

What is a common reason why many small businesses fail?

• Excessive government support

• Lack of market research and planning

• Too much competition

• Overabundance of resources

What is one of the first steps in starting a small business?

• Hiring a large team

• Describing the business idea and resources needed

• Investing in real estate

• Expanding internationally

Which trends should be evaluated to understand the future of small businesses?

• Fashion and design trends

• Demographic, technological, and economic trends

• Political and military trends

• Environmental and agricultural trends

Why are many large businesses trying to "think small"?

• To reduce their workforce

• To increase their market share

• To become more agile and innovative

• To avoid taxes

What is a growing trend in entrepreneurship according to the document?

• Microentrepreneurship

• Social entrepreneurship

• Technological entrepreneurship

• Corporate entrepreneurship

What type of entrepreneurs are emerging as the movement accelerates?

• Macroentrepreneurs

• Microentrepreneurs

• Tech entrepreneurs

• Social entrepreneurs

What has become easier for small businesses to obtain?

• Large-scale funding

• Technology

• Real estate

• International partnerships