Gov't
Which positive effect do small businesses have on the local community?
A
Reduction of competition
B
Pay in of taxes
C
Limitation on job growth
D
Charging of interest
B
pay in of taxes
Which is a financial concern that entrepreneurs often face when starting new businesses?
A
Irregular paychecks
B
Long working hours
C
Shorter vacations
D
Lower production standards
A
Irregular paychecks
What component is important to include in all types of inquiry letters?
A
Contact information
B
Personal qualifications
C
Project specifications
D
Attention-getting title
A
Contact information
Which statement is true regarding training for entrepreneurial ventures?
A
Once entrepreneurs are educated or trained in their business field, they rarely need further education.
B
Most successful entrepreneurs have degrees from four-year colleges or universities.
C
The type of training and education that entrepreneurs need depends on the nature of the start-up business.
D
Most entrepreneurs must pass state-mandated exams to operate their business.
C
The type of training and education that entrepreneurs need depends on the nature of the start-up business.
Local governments strongly promote and support small businesses mainly due to which factor?
A
Businesses serve only the local communities.
B
Businesses are owned by one person.
C
Businesses may become big businesses.
D
Businesses are important to the economy.
D
Businesses are important to the economy.
Which statement is true regarding training for entrepreneurial ventures?
A
Organization
B
Optimism
C
Innovation
D
Determination
B
Optimism
When writing a letter of inquiry, when should the purpose of the letter be revealed?
A
At the beginning of the letter
B
After describing the company
C
Once the recipient has agreed to meet
D
After identifying what prompted the inquiry (such as an advertisement)
A
At the beginning of the letter
What behavior is exhibited when an individual recognizes the possibility of an undesirable outcome and continues to work toward a goal?
A
Creativity
B
Self-discipline
C
Risk-taking
D
Flexibility
C
Risk-taking
Governments can encourage entrepreneurial development by performing which action?
A
Increasing interest rates on loans
B
Deregulating and reducing taxes
C
Establishing higher ethical standards
D
Passing more legislation with strict guidelines
B
Deregulating and reducing taxes
Which statement is most likely to have a negative effect on domestic small-business growth?
A
Involuntary tax reductions
B
Restrictive loan policies
C
Low interest rates
D
Slow inflation
B
Restrictive loan policies
Home-based businesses are attractive to many people because of which factor?Home-based businesses usually
A
yield higher profit margins.
B
provide owners a steady income.
C
have lower start-up costs.
D
require less technical training.
C
have a lower start-up cost
What is a disadvantage of entrepreneurship?
A
Fewer resources
B
Personal satisfaction
C
Lower taxes
D
Uncertain income
D
uncertain income
Which statement is true about entrepreneurship and small-business growth?
A
Trade regulations have very little effect on small-business growth.
B
Many people start entrepreneurial ventures during times of economic recession.
C
Small business start-ups are taxed at a higher rate than multinational companies.
D
Consumer spending is a primary factor that influences entrepreneurial success.
B
Many people start entrepreneurial ventures during times of economic recession
Entrepreneurs often discover business start-up ideas by looking for gaps between what is being done and which other factor?
A
How things are being done
B
What was done in the past
C
When changes were last made
D
What needs to be done
D
what needs to be done
Alaina needs advice and assistance in starting her new business, so she contacted the Service Corps of Retired Executives (SCORE). Jack, a SCORE volunteer, agreed to act as her guide in the business start-up process. Jack is serving which role?
A
Intermediary
B
Apprentice
C
Entrepreneur
D
Mentor
D
Mentor
Successful entrepreneurs enjoy their work and often start their businesses so that they can share their interests and enthusiasm with others. In other words, successful entrepreneurs have which characteristic for what they do?
A
Reservations
B
Concerns
C
Apathy
D
Passion
D
Passion
Which source of start-up information would be recommended to an entrepreneur looking for information about the average start-up and operation costs for a self-serve laundromat?
A
Service Corps of Retired Executives
B
Coin Laundry Trade Association
C
Local chamber of commerce
D
Small business administration
B
Coin Laundry Trade Association
What is a trend that most likely affects the growth of entrepreneurial ventures?
A
CA rise in the desire for slow-response times
B
The shift to an agricultural-based society
C
A higher demand for more convenience products
D
The reduced need for health care and related services
C
a higher demand for more convenience products
Which is considered a reliable information source for a business start-up
A
Wikipedia (www.wikipedia.org/wiki/Entrepreneurship)
B
The Project Management Institute (www.pmi.org)
C
The Small Business Administration (www.sba.gov)
D
The National Retail Federation (www.nrf.com)
C
The Small Business Administration (www.sba.gov)