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Entrepreneurship unit 1 review Flashcards | StudBud
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Entrepreneurship unit 1 review
Entrepreneurship unit 1 review
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Flashcards
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Questions
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Answers
1
Which of the following is most likely to have a negative effect on small-business growth
Slow inflation
Involuntary tax reductions
Low interest rates
Restrictive loan policies
2
Discover business start-up ideas by looking for gaps between what is currently being
done and:
how things are being done
when changes were last made
what was done in the past
what needs to be done
3
A reliable source of general business start-up information is:
Small BusinessAdministration
National Retail Federation
Wikipedia
the Project Management Institute
4
Which of the following statements is true about entrepreneurship and small business growth:
Trade regulations have little effect on business growth
Many people start ventures during times of recession
5
A person sees the possibility of an undesirable outcome and
continues to work toward a goal
Self-discipline
Creativity
Risk Taking
Flexibility
6
Governments can encourage entrepreneurial development by:
C. establishing higher ethical standards.
deregulating and reducingtaxes
increasing interest rates on loans.
C. passing more legislation with strict guidelines.
7
she looking at the glass as half full rather than half empty.
Innovation
Determination
Optimism
8
Small businesses have a positive effect on the local community because they:
reduce competition
limit job growth
charge interest
pay taxes
9
What is a disadvantage of entrepreneurship?
A. Fewer resources
Personal satisfact
Uncertain income
Lower taxes
10
A financial concern that entrepreneurs often face when starting new businesses:
Irregular paychecks
B. Shorter vacations
B. Lower production standards
B. Long working hours
11
Home-based businesses are attractive to many people because the businesses generally
require less technical training.
provide owners a steady income
have lower start-up costs
yield higher profit margins.
12
What is one of the main reasons why small businesses are promoted and supported by government?
They serve only their local communities
They are owned by one person
hey are important to the economy.
