The three economic questions are what to produce? how to produce? and:

for whom should it be produced?

1. A reliable source of general business start-up information is:

the Small Business Administration

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

People start entrepreneurial biz during economic recession

A main reason why small businesses are strongly promoted and supported by local government?

They are important to the economy

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Entrepre 1.01 & 1.03 Test review

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#Entrepreneurship I

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Questions 9

Answers

1
Which statement is most likely to have a negative effect on domestic small business growth?
Low inflation
Restrictive loan policies
Low interest rates
Involuntary tax reduction
2
What is a disadvantage of entrepreneurship?
Personal satisfaction
lower taxes
uncertain income
Working fewer hours
3
The three economic questions are what to produce? how to produce? and:
for whom should it be produced?
why should we produce?
how are we going to pay for it?
when to produce?
4
1. A reliable source of general business start-up information is:
the Project Management Institute
the National Retail Federation
the Small Business Administration
Wikipedia.
5
The government describes a small business as having:
fewer than 1,000 employees
fewer than 10,000 employees
fewer than 100 employees
fewer than 10 employees
6
Small businesses have a positive effect on the local community because they:
reduce competition.
pay taxes.
charge interest
limit job growth
7
Which of the following statements is true about entrepreneurship and small business growth?
People start entrepreneurial biz during economic recession
Small business are taxed higher than multinational companies
Trade regulation have little effect on small business growth
Consumer spending is a primary factor entrepreneurial succes
8
A main reason why small businesses are strongly promoted and supported by local government?
They serve only their local communities
They are owned by one person
They are important to the economy
The may become a big business
9
The best source of start-up info would be best entrepreneur to start a self-serve laundromat?
Local Chamber of Commerce
Coin laundry trade association
Small Business Administration
Service Corps of Retired Executives

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