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Exam 1: The Twenty-First-Century Entrepreneur

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Question 51

Multiple Choice

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What is the percentage of self-employed people in the workforce?

A) 10
B) 20
C) 30
D) 40

E) All of the above
F) B) and C)

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Question 52

True/False

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A small business's harvest plan is to put the profits back into the company.

A) True
B) False

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Question 53

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Facebook and LinkedIn were founded as entrepreneurial businesses, but they are more accurately described as venture capital-backed businesses.

What is "economies of scale"? Compare the impact of economies of scale on both large and small businesses.

The Great Depression of the 1930s encouraged industrial concentration.

________ aid(s) , counsel(s) , assist(s) , and protect(s) the interests of small business concerns.

The development plan of a venture capital start-up is oriented around positive cash flow.

Entrepreneurial businesses have the ability to make greater profits in markets that have been ignored by larger corporations.

Characteristics of a small business start-up include all EXCEPT which one of the following?

Which of the following was the outcome of the Great Depression of the 1930s?

The rate of small-business failure has declined.

________ are often worth only a few dollars and they are given to entrepreneurs, especially women.

Heather Schuck, owner of Glamajama, is an example of how women can concentrate on more than one facet of life.

During the 1970s and 1980s, the ________ occupied the dominant economic position in the world.

According to the U.S.government, a small business is classified as any business with fewer than 500 employees.

Which of the following terms describes a plan to exit a small business?

Each business plan, like every business, should have its own voice, feel, and style.

Profit margins are key to successful businesses.

________ are individuals or other organizations that impact the success of a business.

In the context of the initial developments of the industrial base in the United States, which of the following statements is true about robber barons?