TRIAL MIDTERM MGT1143 S2 2024

A bigger industry provides support services to SME’s by becoming their supplier of components.

• TRUE

• FALSE

SME’s do not need large special areas or facilities. They can build their factories in rural areas, and this can help to provide jobs for those living in this area. This situation refers to the contribution of the SMEs to prevent waste and encourage saving.

• TRUE

• FALSE

Makmoor Enterprise used recycling equipment to produce their products. This is to save costs. This situation refers to the contribution of the SMEs to increase the amount of funds in the economy.   

• TRUE

• FALSE

The provision of business premises, factories, and workshops for SMEs in the rural areas, establishment of centers for product packaging, distribution, and marketing shows the initiatives and development to strengthening the development or growth of SME’s.

• TRUE

• FALSE

Enhancing SMEs’ access to financing is not the major initiative to help its growth.

• TRUE

• FALSE

It is not difficult for SMEs to get loans from financial institutions especially at the growth stage of their business.

• TRUE

• FALSE

It is difficult for SMEs to get an expert to join their company because they cannot offer higher salaries, bonuses, and other special incentives.

• TRUE

• FALSE

An entrepreneur is one who is responsible for controlling or administering an organization or group of staff.

• TRUE

• FALSE

Entrepreneurship also refers to the process of creating something new of value by devoting the necessary time and effort, assuming the accompanying financial, physical, and social risk, and receiving the resulting monetary reward, personal satisfaction, and independence.

• TRUE

• FALSE

An entrepreneur is different from a small businessman as they face competition as an ordinary challenge which makes them rigid in adapting to changes.

• TRUE

• FALSE