Governments can encourage entrepreneurial development by

deregulating and reducing taxes

What is a trend that affects the growth of entrepreneurial ventures?

A higher demand for more convenience products

Which statement is true about entrepreneurship and small business growth?

Businesses start during time of economic recession

What is one of the reasons small businesses are strongly supported by the government?

They are important to the economy

Which of the following statements is true regarding training for entrepreneurial ventures?

the type of training depends on the nature of the business

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EI - Objective 1.01 and 1.02

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Review questions for EI Objectives 1.01 and 1.02

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Questions 14

Answers

1
Home-based businesses are attractive to many people because the business generally
provide owners a steady income
require less technical training
yield higher profit margins
have lower start-up costs
2
Governments can encourage entrepreneurial development by
passing more legislation with strict guidelines
deregulating and reducing taxes
establishing higher ethical standards
increasing interest rates on loans
3
What is a trend that affects the growth of entrepreneurial ventures?
a rise in consumers' desire for slow response times
The reduced need for health care and related services
A higher demand for more convenience products
the shift to an agricultural-based society
4
What is a financial concern that entrepreneurs often face when starting a new business?
Irregular paychecks
Lower production standards
Shorter vacations
Long working hours
5
Small businesses have a positive effect on the local ecommunity because they:
Pay taxes
Charge interest
Limit job growth
Reduce competition
6
Which statement is true about entrepreneurship and small business growth?
Small business startups are taxed higher
Consumer spending is a primary factor
Businesses start during time of economic recession
Trade regulations do not effect small business growth
7
What is one of the reasons small businesses are strongly supported by the government?
They are important to the economy
They serve only their local communities
They are owned by one person
They may become a big business
8
Entrepreneurs often discover start up ideas by looking for gaps between what is being done and
what was done in the past
when changes were last made
what needs to be done
how things are being done
9
Even during tough times, a business owner remains positive (looks at the glass as half full)?
Determination
Organization
Innovation
Optimism
10
Entrepreneurs that enjoy their work and often start a business that share their interests...
concerns about
reservations about
passion for
apathy for
11
A person recognizes the possibility of an undesirable outcome and continues anyway.
self-discipline
risk taking
flexibility
creativity
12
Which is most likely to have a negative effect on small business growth?
Slow inflation
Low interest rates
Restrictive loan policies
Involuntary tax reductions
13
What is a disadvantage of entrepreneurship?
uncertain income
fewer resources
lower taxes
personal satisfaction
14
Which of the following statements is true regarding training for entrepreneurial ventures?
the type of training depends on the nature of the business
No further education is ever needed
Most successful entrepreneurs have four year college degrees
Entrepreneurs must pass state-mandated exams

EI - Objective 1.01 and 1.02 Flashcards | StudBud