Small Business & Entrepreneurship chapter#5

Which of the following is NOT a role of small business in the American economy according to the slide?

• Job creation

• Innovation

• Exporting

• Market analysis

Which of the following industries is NOT listed as one that attracts small business?

• Retailing and wholesaling

• Services

• Manufacturing

• Agriculture

which industry is considered attractive to small businesses due to technological advancements?

• Retailing and wholesaling

• Services

• Manufacturing

• High Technology

Which of the following is NOT listed as an advantage of small business ownership?

• Independence

• Costs

• Flexibility

• Market Share

What is one of the advantages of small business ownership that can affect the personal satisfaction of the business owner?

• Independence

• Costs

• Market Share

• Economy of Scale

Which advantage of small business ownership can lead to a more personalized approach to customers?

• Economy of Scale

• Market Share

• Focus

• Costs

What percentage of new businesses fail within the first 5 years according to the slide?

• 50%

• 70%

• 90%

• 80%

Which of the following is NOT listed as a disadvantage of small-business ownership?

• High Stress Level

• Undercapitalization

• Managerial Inexperience

• Easy Work-Life Balance

What does undercapitalization refer to in the context of small-business ownership?

• Excessive funds to operate a business

• Lack of funds to operate a business normally

• Poor management of business funds

• High interest rates on business loans

Which disadvantage of small-business ownership is related to the skills and abilities of the management team?

• High Stress Level

• High Failure Rate

• Managerial Inexperience or Incompetence

• Inability to Cope with Growth