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Intro to Business - Entrepreneur Review Ch 7 Flashcards | StudBud
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Intro to Business - Entrepreneur Review Ch 7
Intro to Business - Entrepreneur Review Ch 7
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#entrepreneur
Flashcards
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Questions
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Answers
1
An idea that forces other than the individual are responsible for what happens in life.
external locus of control
internal locus of control
2
Which lenders charge the highest interest rates?
alternative lenders
credit union
angel investor
bank
3
In the first five years of operating, almost _____% of small businesses fail.
1
50
75
5
4
Which of the following is included in a business plan?
analysis of competition
financial statements
executive summary
product/service
5
How can a small business excel at customer service?
fewer customers so it is easier
have a partner who is an expert in customer service
more technology makes it possible
6
What do angel investors get when investing in a small business?
part ownership
nothing
royalties
7
Besides money, what else can venture capital firms offer to small businesses?
expertise
loans
office space
capital
8
Which of the following would be a synonym for "entrepreneur"?
risk-taker
inflexible
follower
schedule
9
How does the SBA define small business?
companies with up to 500 employees
companies that invest in start-up businesses
simplest business form under which one can operate business
people who risk time, money, resources to start a business
10
In what type of countries are entrepreneurship rates lower?
countries with more women than men
countries with more government regulation
countries with a high level of employment protection
countries with low per capita income
11
How has technology allowed small business to be more competitive?
more technology means fewer employees are needed
the internet creates opportunities to reach a larger market
it makes training employees easier
technology allows workers to use technical skills more often
12
Where do most entrepreneurs raise start-up funds?
angel investors
alternative lenders
personal resources
venture capital firms
