Question 1

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

Accepted Answer

A)  It led to the initial development of a large industrial base in the United States.
B)  It was harder on larger more mature businesses than on entrepreneurial businesses.
C)  The government deregulated all small- and medium-sized enterprises.
D)  Entrepreneurial business as a percentage of the U.S.economic output began to decline.E) B) and C)
F) A) and D)

Question 2

The Great Depression of the 1930s encouraged industrial concentration.

Accepted Answer

A) True 
 B)False

Question 3

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?

Accepted Answer

A)  They ensured that smaller operations were effectively put out of business.
B)  They quickly came to dominate new sectors of the economy.
C)  They were unable to take advantage of the economies of scale that were possible with the industrial age.
D)  They came to dominate industrial sectors that had existed historically.E) C) and D)
F) B) and C)

Question 4

The rate of small-business failure has declined.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

The answer of ________ are individuals or other organizations that...

Question 8

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

Accepted Answer

A)  The U.S.Small Business Administration
B)  Stakeholders
C)  Fortune 500 companies
D)  Medium-sized businessesE) B) and D)
F) B) and C)

Question 9

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

Accepted Answer

The answer of ________ are often worth only a few...

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A)  Self-funded
B)  Designed to take advantage of the skills of the founder(s) 
C)  Oriented toward positive cash flow
D)  Over 100 employeesE) B) and D)
F) B) and C)

Question 15

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

Accepted Answer

Economies of scale is a condition that a...

Question 16

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

Accepted Answer

A)  Americans
B)  Japanese
C)  Russians
D)  GermansE) A) and B)
F) B) and C)

Question 17

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

Accepted Answer

A)  Harvest plan
B)  Business plan
C)  Entrepreneurial plan
D)  General departure planE) B) and C)
F) A) and B)

Question 18

Profit margins are key to successful businesses.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A)  10
B)  20
C)  30
D)  40E) B) and D)
F) All of the above

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 1: The Twenty-First-Century Entrepreneur

Profit margins are key to successful businesses.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedEconomies of scale is a condition that a...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

The Great Depression of the 1930s encouraged industrial concentration.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The rate of small-business failure has declined.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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Economies of scale is a condition that a...
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