Which of the following statements about entrepreneurship and small business growth are true?

Many people start businesses during economic recessions

What trend would affect the growth of entrepreneurial ventures?

A higher demand for more convenience products

Government can encourage entrepreneurial development by?

deregulating and reducing taxes

"Mom and Pops" small business are strongly promoted and supported by local government because?

They are important to the economy

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Ent Test 1 Review (1.01-1.04)

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Ent Review 1.01-1.04

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Answers

1
Which statement is most likely to have a negative effect on domestic small business growth?
Involuntary tax reductions
low interest rates
restrictive loan policies
slow inflation
2
Which of the following statements about entrepreneurship and small business growth are true?
Trade regulation have little effect on small business growth
Consumer spending is a strong factor that influences success
Many people start businesses during economic recessions
3
A entrepreneur would go to what source to find info on starting up a self-serve laundromat?
small business adminstration
service corps of retired executives
local chamber of commerce
coin laundry trade association
4
What trend would affect the growth of entrepreneurial ventures?
The shift to an agricultural-based society
the reduced need for health care and related services
A higher demand for more convenience products
a rise in consumers' desire for delayed-response times
5
What component is important to include in all types of inquiry letters?
attention getting title
project specifications
contact information
personal qualifications
6
Government can encourage entrepreneurial development by?
passing more legislation with strict guidelines
deregulating and reducing taxes
increasing interest rates on loans
establishing higher ethical standards
7
Starting a business at home is attractive to people because the business usually __________?
yield higher profit margins
have lower start-up costs
provide owners a steady income
require less technical training
8
"Mom and Pops" small business are strongly promoted and supported by local government because?
They may become a big business
They serve only their local communities
They are owned by one person
They are important to the economy
9
Raleigh CrossFit has a positive effect on the local community because they:
limit job growth
Pay taxes
reduce competition
charge interest
10
In a letter of inquiry, when should you identify the purpose of your letter?
after describing your company
At the beginning of the letter
once the recipient has agreed to meet with you
11
Entrepreneurs look for what is currently being done and _________________?
what was done in the past
when changes were last made
how things are being done
what needs to be done
12
What is a disadvantage of entrepreneurship?
self-approval
Less resources
Lower taxes
uncertain income
13
Which of the following is a financial concern for entrepreneurs and their new business?
shorter vacations
Irregular paychecks
long working hours
lower production standards

Ent Test 1 Review (1.01-1.04) Flashcards | StudBud