Entrepreneurship Fall Exam Review

Front

What does the saying, “the buck stops here” imply about the responsibility of small business owners and entrepreneurs?

Back

They are ultimately accountable for every aspect of their businesses.

Front

Small businesses and entrepreneurs are important to society because they:

Back

create jobs

Front

Entrepreneurs usually assume more ____________ than small business owners:

Back

risk

Front

Small business owners are usually more concerned about this than entrepreneurs are: a unique product, a steady income, breakthrough technology, accounting statements

Back

a steady income

Front

Managers help business owners and entrepreneurs by: passing laws, casting a vision, taking risk, implementing policies and procedures

Back

implementing policies and procedures

Front

Small businesses and entrepreneurs are important to society because they: provide for everyday needs, provide economic growth, help us save money to build wealth.

Back

all the above.

Front

What is a key difference between entrepreneurs and small-business owners?

Back

Small-business owners are less focused on scaling (growing) their businesses rapidly.

Front

What percentage of companies in the United States are considered to be “small” businesses? Options: over 500 employees, over 90%, under 50%, 10%

Back

over 90%

Front

Entrepreneurs try to create something ___________ than what is currently available.

Back

different

Front

Which one of the following gives access and opportunity to so many who are considering becoming an entrepreneur? Options: access to technology, the internet, the power of computing, all of the above

Back

all of the above