QUESTION Which of the following commonly develops a business idea within an already established business model? A) micropreneur B) classic entrepreneur C) necessity entrepreneur D) intrapreneur E) opportunity entrepreneur ANSWER Answer: D Explanation: D) An intrapreneur works within an existing company operating under a business model and mobilizes its resources to develop new products […]
QUESTION Which of the following does NOT describe many home-based businesses in the United States? A) 1- or 2-person operations B) high use of Web technology C) primary emphasis on product sales D) financed for less than $10,000 E) comprise one-half of new small businesses ANSWER Answer: C Explanation: C) Many home-based businesses offer […]
QUESTION Working at a home-based business can be challenging. Which of the following is NOT a common strategy to be successful operating a business at home? A) stick to a work routine B) network with other professionals C) dress professionally D) outsource tedious tasks E) dedicate a computer for work ANSWER Answer: D Explanation: […]
QUESTION Compared to big businesses, small businesses contribute to the overall economic vitality of the United States in all of the following ways EXCEPT which? A) promote more innovation B) provide more first jobs C) enjoy more economies of scale D) employ more workers E) generate more new jobs ANSWER Answer: C Explanation: C) […]
QUESTION Ramon believed he could earn money helping students with homework online. He built a Homework SOS website and paid the business filing fee and site host. All revenue comes from memberships. Within a few months, Ramon was making $1,000 a month in profit. Which term best describes the business? A) freelance business B) home-based […]
QUESTION Joan set up shop as a virtual concierge for traveling executives. She gets e-mail requests from clients on her home computer before they fly in to her city, and she makes sure they have everything they need upon arrival. The work is a perfect fit and she’s completely content. Which term best describes Joan? […]
QUESTION Which of the following would be LEAST likely to create an ultralight startup with the goal of selling the company for a substantial profit within five years? A) intrapreneur B) entrepreneurial team C) classic entrepreneur D) micropreneur E) opportunity entrepreneur ANSWER Answer: D Explanation: D) Micropreneurs tend to be small, home-based operations created […]
QUESTION Sandra owns an educational technology company. She feels the field is getting crowded and wants to develop an innovative software product that will help the company stay ahead of the pack. What is her best strategy to accomplish this goal? A) Hire a group of new employees as an entrepreneurial team. B) Hire a […]
QUESTION Which of the following terms is best associated with being an entrepreneur? A) safety B) certainty C) predictability D) ambiguity E) reliability ANSWER Answer: D Explanation: D) The business world is filled with change and risk; entrepreneurs must have a high tolerance for ambiguity.
QUESTION A venture capitalist receives an ownership stake in a new business in return for its investment. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: Venture capitalists are generally companies, not individuals. They provide little financing for small businesses, focusing on larger enterprises in several industry sectors.
