Entrepreneurship Fall/2021 Test #1

Question 1

Goals should establish ways to measure your progress; fits under which letter of SMART goals

Accepted Answer

Measurable

Question 2

According to the Small Business Administration's Office of Advocacy, how many businesses survive for at least 2 years?

Accepted Answer

67%

Question 3

A dry cleaners is an example of which type of business?

Accepted Answer

service business

Question 4

Possibilities that arise from existing conditions are called ideas?

Accepted Answer

False

Question 5

The plant where Nike sneakers are made is an example of which type of business?

Accepted Answer

manufacturer

Question 6

Special meeting at which companies of the same industry or related industries display their products:

Accepted Answer

trade show

Question 7

Goals should not be too far out of reach fits what letter in SMART goals?

Accepted Answer

Attainable

Question 8

All are reasons why new businesses fail except for?

Accepted Answer

Owner willing to put in the time

Question 9

Arthur Blank and Bernie Marcus founded Home Depot.

Accepted Answer

True

Question 10

An evaluation of your strengths and weaknesses is called?

Accepted Answer

self assessment

Question 11

All are characteristics of a Good Team except for:

Accepted Answer

Non commitment

Question 12

Which of the following is not an advantage of entrepreneurship?

Accepted Answer

take all risks

Question 13

People who own, operate, and take risk of a business venture is called?

Accepted Answer

entrepreneur

Question 14

Non financial goals are far more than monetary gain. Example is giving back to the community.

Accepted Answer

True

Question 15

All are methods or ways to find or explore an entrepreneurial opportunity except for:

Accepted Answer

Just keep working

Question 16

People who work for someone else is?

Accepted Answer

employee

Question 17

Which questions should you not ask yourself when deciding on an entrepreneurial opportunity?

Accepted Answer

All are questions to ask

Question 18

All are steps in the problem solving method except for:

Accepted Answer

Ignoring your Action

Question 19

This is a creative problem solving technique that involves generating a large number of fresh ideas.

Accepted Answer

brainstorming

Question 20

All are characteristics of a successful entrepreneur except for?

Accepted Answer

All are characteristics

Questions 20