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Entrepreneurship 1 Objectives 1.01-1.04 questions Flashcards | StudBud
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Entrepreneurship 1 Objectives 1.01-1.04 questions
Entrepreneurship 1 Objectives 1.01-1.04 questions
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1.01, 1.02, 1.03 & 1.04 quiz questions.
Flashcards
19 cards
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Questions
19
Answers
1
Home-based businesses are attractive to many people because of which factor? They usually:
require less technical training.
provide owners a steady income.
have lower start-up costs.
yield higher profit margins.
2
Successful entrepreneurs have which characteristic for what they do?
Concerns
Passion
Apathy
Reservations
3
Which statement is true about entrepreneurship and small-business growth?
Consumer spending is a factor that influences success.
Small businesses are taxed higher than big companies.
Regulations have little effect on small-business growth.
People start ventures during times of economic recession.
4
When writing a letter of inquiry, when should the purpose of the letter be revealed?
After describing the company
Once the recipient has agreed to meet
At the beginning of the letter
After identifying what prompted the inquiry
5
When times are tough for Caitlin venture, shes positive. What characteristic is Caitlin showing
Optimism
Organization
Determination
Innovation
6
Which statement is
most likely
to have a negative effect on domestic small-business growth?
Low interest rates
Restrictive loan policies
Slow inflation
Involuntary tax reductions
7
Which statement is true regarding training for entrepreneurial ventures?
Type of training they need depends on business.
They must pass state exams to operate their business.
Most successful entrepreneurs have degrees .
Once trained they rarely need further learning.
8
Which positive effect do small businesses have on the local community?
Pay in of taxes
Limitation on job growth
Charging of interest
Reduction of competition
9
What is a trend that
most likely
affects the growth of entrepreneurial ventures?
A rise in the 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
10
Which source of startup info would an entrepreneur look for startup and costs for a laundromat
Local chamber of commerce
Coin Laundry Trade Association
Service Corps of Retired Executives
Small business administration
11
Which is a financial concern that entrepreneurs often face when starting new businesses?
Shorter vacations
Lower production standards
Irregular paychecks
Long working hours
12
Entrepreneurs discover startup ideas by looking for between what is being done and...
What needs to be done
How things are being done
When changes were last made
What was done in the past
13
Alaina needs help a business. Jack will guide the start-up process. Jack serves what role?
Entrepreneur
Intermediary
Mentor
Apprentice
14
What behavior displayed when someone recognizes the possibility of a bad outcome and continues?
Flexibility
Self-discipline
Risk-taking
Creativity
15
Governments can encourage entrepreneurial development by performing which action?
Passing more legislation with strict guidelines
Establishing higher ethical standards
Deregulating and reducing taxes
Increasing interest rates on loans
16
Which is considered a reliable information source for a business start-up?
The Small Business Administration (www.sba.gov)
The National Retail Federation (www.nrf.com)
The Project Management Institute (www.pmi.org)
Wikipedia (www.wikipedia.org/wiki/Entrepreneurship)
17
Local governments strongly promote and support small businesses mainly due to which factor?
Businesses are owned by one person.
Businesses serve only the local communities.
Businesses are important to the economy.
Businesses may become big businesses.
18
What component is important to include in all types of inquiry letters?
Attention-getting title
Project specifications
Contact information
Personal qualifications
19
What is a
disadvantage
of entrepreneurship?
Personal satisfaction
Lower taxes
Uncertain income
Fewer resources
