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following practice questions so I may ensure I am selecting correctly?

Question 1
For entrepreneurship to thrive, it must operate in a well functioning business and regulatory environment.
Select one:
Question 2
A "Growth Entrepreneur" is one who:
Select one:
a. Is primarily interested in just earning enough profits from their business to live on.
b. Goes into business for themselves in order to achieve a certain lifestyle and greater autonomy.
c. Is driven by the competitive nature of business.
d. None of the above.
Question 3
A social entrepreneur is one who:
Select one:
a. Primarily utilizes social media for marketing of their business.
b. Develops a business with the primary purpose of addressing a social cause.
c. Develops businesses that engage in social networking.
d. None of the above.
Question 4
A disadvantage of using an incubator for an entrepreneurial venture is:
Select one:
a. Once the business goes on its own, it may not be fully prepared to be self-sufficient.
b. Having other businesses around to learn from.
c. Reduced rent expenses
d. All of the above.

Question 5
Mohamed Yunus is:
Select one:
a. A man who loans money to the poor.
b. The world's best known social entrepreneur.
c. A man who was an economics professor in Bangladesh.
d. All of the above.
Question 6
An entrepreneur refers only to someone who develops their own business.
Select one:
Question 7
Which of the following is a category to consider when doing Market Segmentation?
Select one:
a. geography
b. age
c. gender
d. all of the above

Question 8
Equity financing refers to:
Select one:
a. Investment of goods and resources instead of money
b. A monetary loan with high interest rates
c. Money lent in exchange for business ownership
d. All of the above

Question 9
Business incubators are places where new business ventures may share office space, equipment, and access to mentors and other professional services to help their businesses get started.
Select one:
Question 10
A licensing business model is used by most software companies and some specialty product companies to create products, and then license them to other companies.
Select one:
Question 11
Which of the following is NOT one of the issues to consider when expanding your business into a foreign country?
Select one:
a. Language barriers
b. Access to raw materials and human resources
c. Government barriers
d. Differences in currencies
Question 12
Great ideas for entrepreneurs should have one of which three key elements?
Select one:
a. Reduced costs to manufacturers, an established customer base, proven growth potential
b. Inexpensive methods for marketing, a broad customer base, sustainable resources
c. Inexpensive production costs, low cost of service and materials, and broad customer base
d. Improved efficiency, greater effectiveness, or innovations in products or processes
Question 13
The acronym "SROI" stands for:
Select one:
a. Strategic Renovations on Innovations
b. Strategic Return on Investment
c. Social Return on Investment
d. None of the above
Question 14
Microfinance loans are primarily for the purpose of:
Select one:
a. Assisting people in poverty to obtain funds to start a small business.
b. Assisting youth with the ability to go to college.
c. Providing funding to start-up businesses with a social purpose.
d. All of the above.
Question 15
The difference between a loan and a grant is that:
Select one:
a. Grants provide funding for start-up businesses.
b. Loans provide funding for start-up businesses.
c. Grants do not have to be repaid, but loans do.
d. None of the above.
Question 16
A social venture capital firm is one that:
Select one:
a. Organizes professional networking conferences.
b. Invests money into ventures that support social or environmental causes.
c. Develops social opportunities for entrepreneurs to meet new mentors.
d. None of the above.

Question 17
Venture Capitalists usually prefer to invest in companies that are in their later stages of development.
Select one:
Question 18
When a business owner accepts venture capital funds:
Select one:
a. The business owner is usually in the later stages of corporate development.
b. The business owner may expand the company and obtain market shares.
c. The business owner may lose some control of the business as they share ownership.
d. All of the above.

Question 19
If you have a promising new idea for a product or service but do not have the funding to produce or commercialize (market) it, then you could consider "licensing," which refers to:
Select one:
a. Formal permission by a company that allows you to use their operating resources and equipment.
b. A formal agreement between an inventor and a company, giving the company the rights to produce, market, and sell his or her own invention or idea.
c. A written statement granting permission to an inventor to post their idea publicly without anyone being able to "steal" or use their idea and claim it as their own.
d. None of the above.

Question 20
Indirect competition includes:
Select one:
a. A business that has gone out of business recently.
b. A business owned by a friend.
c. Businesses with missions unrelated to yours that are competing for the dollars you want.
d. A business with a social or environmental cause.
Question 21
One of the most lacking aspects of opportunities for entrepreneurship in developing countries is:
Select one:
a. Not enough role models/mentors
b. A lack of time
c. A lack of innovative ideas
d. None of the above
Question 22
An exit strategy is:
Select one:
a. An executive summary that details how the business will end.
b. A plan for exiting the building in case of an emergency.
c. A part of the business plan that details how investors will get their money back and exit the company.
d. None of the above.

Question 23
An "entrepreneurial ecosystem" could be described as:
Select one:
a. An environment in which multiple stakeholders play a role in facilitating entrepreneurship.
b. A system of mutually beneficial and self-sustaining relationships involving institutions, people and processes.
c. An environment where stakeholders create win-win networks of entrepreneurial relationships.
d. All of the above
Question 24
Debt financing means that:
Select one:
a. The business owner does not lose any ownership of the business
b. Funding must be paid back to the lender
c. The borrower must have exceptionally good credit history
d. All of the above.
Question 25
You cannot incorporate socially beneficial elements into your company and still run it as a for-profit.
Select one:
Question 26
Secondary market research includes consulting published reports to find out which of the following?
Select one:
a. Who makes up your target market
b. The needs of your market
c. The size of the potential market
d. All of the above

Question 27
The main points of a business plan presentation are:
Select one:
a. Market research, customers, finances, and budget.
b. Market segmentation, financial investments, and board of directors.
c. Summary, market, solution, team, and use of funds.
d. Business proposition, customer base, and marketing strategy.
Question 28
Venture capitalists are:
Select one:
a. Individuals interested in investing in new businesses
b. Organizations interested in investing in new businesses
c. In search of promising companies which are financially vulnerable
d. All of the above

Question 29
The Tuckman Model outlines the four classic stages of team development. They are as follows:
Select one:
a. Forming, Storming, Norming, and Performing
b. Developing, Convening, Conflicting, and Integrating
c. Developing, Conflicting, Nurturing, and Succeeding
d. Forming, Conflicting, Normalizing, and Succeeding
Question 30
Wealthy individuals who like to invest in small start-up enterprises are known as:
Select one:
a. Venture Capitalists
b. Angel Investors
c. Entrepreneurial Investors
d. None of the above

Question 31
The two primary categories of primary market research are:
Select one:
a. indirect and direct
b. qualitative and quantitative
c. comprehensive and brief
d. None of the above
Question 32
What is the motto of the World Economic Forum?
Select one:
a. "The youth of today are the future for tomorrow."
b. "Committed to the improving the State of the World."
c. "Economic development begins with innovation of entrepreneurship."
d. "Global development and entrepreneurship are in the hands of the future generations."
Question 33
A Board of Directors is:
Select one:
a. A group of individuals who manage the day-to-day operations of a business entity
b. Always paid a fair salary for their time and dedication to the business
c. Not responsible for legal issues that may arise within the company
d. A group of elected individuals who take responsibility for overall management and legal responsibility of the business
Question 34
Some advantages of incubating a new business are:
Select one:
a. Access to business and entrepreneurial wisdom
b. Sharing ideas and a culture of innovation with peers
c. Ease of networking
d. All of the above
Question 35
It is recommended that entrepreneurship should be taught:
Select one:
a. Across disciplines
b. Only in study areas of business and economics
c. Only in high school and beyond
d. Only at the University level

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