Chapter 01 Quiz \u2013 Fall 2018 ..pdf - Question 1 Review Test Submission Chapter 01 Quiz Fall 2018 are the growth engine of the economy Selected Answer 1

Chapter 01 Quiz u2013 Fall 2018 ..pdf - Question 1 Review...

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Unformatted text preview: 8/30/2018 Question 1 Review Test Submission: Chapter 01 Quiz – Fall 2018 ... _________ are the growth engine of the economy. Selected Answer: 1 out of 1 points B. small businesses A. large businesses Answers: B. small businesses C. Fortune 500 companies D. medium-sized businesses Response Feedback: Question 2 The evidence of the importance of small entrepreneurial business to the economy can be seen in the statistics from the U.S. Small Business Administration (SBA). Small companies have flourished for all the following reasons EXCEPT: Selected Answer: 1 out of 1 points D.they often expand easily in mature industries A. they respond more quickly Answers: B. they operate more effectively C. they employ more skilled people D.they often expand easily in mature industries Response Feedback: Question 3 Mature industries have higher barriers to entry and limited ability for expansion. The ability of entrepreneurs to respond more quickly and to operate more effectively has led to a growth in the raw number of entrepreneurial businesses rather than a decline. Women entrepreneurs are starting small businesses for all but one of the following 1 outreasons: of 1 points Selected Answer: A.better ideas for small businesses Answers: A.better ideas for small businesses B. greater control of their lives C. manage family needs D. hit the glass ceiling Response Feedback: The growth of women entrepreneurs comes from the fact that women are frustrated by the "glass ceiling," and want greater control of their lives so they can better balance their family's and children's needs. Question 4 1 out of 1 points The World Bank estimates that one of the strongest factors in the growth of any nation's GNP … 1/4 8/30/2018 Review Test Submission: Chapter 01 Quiz – Fall 2018 ... (gross national product) is _________. Selected Answer: A.small and medium-sized enterprises Answers: A.small and medium-sized enterprises B. large businesses C. global trading D. higher tariffs Response Feedback: Question 5 The World Bank estimates that one of the strongest factors in the growth of any nation's gross national product is the presence of small and medium-sized enterprises. Which kind of business is NOT likely to be eligible for a microloan program? 1 out of 1 points B. telecommunication center Selected Answer: Answers: A. meals delivery B. telecommunication center C. weaving baskets D. washing clothes Response Feedback: These loans often are very low amounts and would not be large enough to finance a telecommunication center. The businesses founded through these loans can be as simple as delivering lunches, weaving baskets, or washing clothes. Question 6 Fortune 500 companies employ _________ employees than 10 years ago. C. fewer Selected Answer: Answers: 1 out of 1 points A. more B. same C. fewer D. younger Response Feedback: Since 1990 big … 2/4 8/30/2018 Question 7 Review Test Submission: Chapter 01 Quiz – Fall 2018 ... businesses have eliminated 4 million jobs. All of these are harvest plan strategies EXCEPT: Selected Answer: 1 out of 1 points D. franchising A.selling the business to another firm Answers: B. selling it to a group of investors C.participating in an IPO (public offering of stock) D. franchising Response Feedback: A harvest plan is a plan to exit the business. Typically the owners have the intention to sell the business to another firm or take it to an IPO. Question 8 Years ago, economists mistakenly predicted that small businesses would: Selected Answer: A.be replaced by a smaller number of big businesses Answers: A.be replaced by a smaller number of big businesses 1 out of 1 points B. replace bigger businesses C. be replaced by franchises D. replace franchises Response Feedback: Question 9 Many years ago the apparent efficiencies of very large businesses led some economists to predict that small businesses would be largely replaced by a much smaller number of large businesses. Which of the following is NOT a characteristic of a high-growth venture? Selected Answer: Answers: 1 out of 1 points D.is designed to reflect the mission of the founder A.have a well-developed organization structure B.often hire an experienced president to grow the company C.usually hire a relatively large number of employees D.is designed to reflect the mission of the founder Response Feedback: A high-growth venture is characterized by a developed organizational structure, an experienced president to grow the company, and start or grow quickly to employ a relatively large number of employees. … 3/4 8/30/2018 Question 10 Review Test Submission: Chapter 01 Quiz – Fall 2018 ... Which of the following terms describes a plan to exit a small business? Selected Answer: A. harvest plan Answers: A. harvest plan 1 out of 1 points B. business plan C. entrepreneurial plan D. general departure plan Response Feedback: A harvest plan is a plan to exit the business. Typically the owners have the intention to sell the business to another firm or take it to an IPO … 4/4 ...
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