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Bus 508 Chapter 6 Week 3 Quiz (All Correct)

Question 1

 Some entrepreneurs do not find creative ways to obtain equity financing.

Answer

True

False

Question 2

 The freedom to make all the decisions—being your own boss—is one of the biggest lures of entrepreneurship.

Answer

True

False

Question 3

 Growth in entrepreneurship is not a worldwide phenomenon.

Answer

True

False

Question 4

 Bill Gates and Paul Allen launched ________ with the vision of a computer on every desk and in every home, all running software.

Answer

Apple

Google

Yahoo

Microsoft

Question 5

 Dealing with unexpected events is not the norm for most entrepreneurs.

Answer

True

False

Question 7

 ________ has further transformed the business environment for entrepreneurs.

Answer

Project management

Social networking

Commercials

Entrepreneurship

Question 8

 An ________ is a risk taker in the private enterprise system, a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business.

Answer

Consumer

Entrepreneur

Executive

Employee

Question 9

 Growth in entrepreneurship is not a worldwide phenomenon.

Answer

True

False

Question 10

 Even entrepreneurs who have not previously received funding from banks have experienced a credit crunch in recent years.

Answer

True

False

Question 11

 To secure ________, entrepreneurs exchange a share of ownership in their company for money supplied by one or more investors.

Answer

Equity financing

Quality financing

Open financing

Closed financing

Question 12

 ________ are wealthy individuals who invest money directly in new ventures in exchange for equity, are a larger source of investment capital for start-up firms.

Answer

Logical investors

Angel investors

Small investors

Cooperative investors

Question 13

 The following can be classified as the different types of entrepreneurs, except:

Answer

Class entrepreneurs

Serial entrepreneurs

Social  entrepreneurs

Basic entrepreneurs

Question 14

 ________ are employees who direct the efforts of others to achieve an organization’s goals.

Answer

Customers

Managers

Owners

Partnerships

Question 15

 Demographic trends—including the aging of the U.S. population, the growth of ethnic groups, and the predominance of two-income families—create opportunities for entrepreneurs.

Answer

True

False

Question 16

 A ________ project is initiated by an employee who conceives an idea, convinces top management of its potential, and then recruits human and other resources from within the company to turn the idea into a commercial project.

Answer

Skunkworks

Cooperative

Open market

Innovation

Question 17

 ________ seems to be the key to business start-ups, especially in rapidly changing markets.

Answer

Competitiveness

Flexibility

Financing

Capital

Question 18

 Entrepreneurs have an internal locus of control, which means they believe that they control their own destinies.

Answer

True

False

Question 19

 Many Boomers also plan to work after retirement from traditional jobs or careers, either because they want to or in order to boost income and savings.

Answer

True

False

Question 20

 Like buying an established business, buying a franchise offers a less risky way to begin a business than starting an entirely new firm.

Answer

True

 

False 

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