100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Test Bank For Entrepreneurship The Art Science and Process for Success 3Rd Ed By Charles Bamford £24.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. Entrepreneurship - Test Bank
  4.  
  5. Entrepreneurship - Test Bank
  6.  
  7. Entrepreneurship - Test Bank

Exam (elaborations)

Test Bank For Entrepreneurship The Art Science and Process for Success 3Rd Ed By Charles Bamford

 0 purchase

Entrepreneurship The Art Science and Process for Success 3Rd Ed By Charles Bamford - Test Bank

Preview 4 out of 505  pages

Document information

  • October 2, 2023
  • 505
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • all chapters included
  • test bank for entrepreneurship the art science
  • test bank for entrepreneurship the art
  • test bank for entrepreneurship
  • complete test bank with answers

Written for

All documents for this subject (3)

Seller

avatar-seller
ExamsExpert

Reviews received

Content preview

,Entrepreneurship, 3e (Bamford)
Chapter 1 The Twenty-First-Century Entrepreneur

1) Entrepreneurial business is not important to the U.S. economy.

Answer: FALSE
Explanation: The evidence of the importance of entrepreneurial businesses to the U.S. economy
can be seen in statistics from the United States Small Business Administration (SBA).
Difficulty: 1 Easy
Topic: Why Start a Business?
Learning Objective: 01-01 Explain the rationale behind starting an entrepreneurial business.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

2) The United States Small Business Administration (SBA) provides a wealth of information and
assistance at all levels of organizational development and management for new entrepreneurial
businesses.

Answer: TRUE
Explanation: The United States Small Business Administration (SBA) provides a wealth of
information and assistance at all levels of organizational development and management for new
entrepreneurial businesses. It is the agency officially organized in 1953 as a part of the Small
Business Act of July 30, 1953, to "aid, counsel, assist, and protect, insofar as is possible, the
interests of small business concerns."
Difficulty: 1 Easy
Topic: Why Start a Business?
Learning Objective: 01-01 Explain the rationale behind starting an entrepreneurial business.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

3) A critical element that an entrepreneur must solve for success is to develop the ability to
generate consistent and growing sales.

Answer: TRUE
Explanation: One of the three critical elements that an entrepreneur has to solve for success is
the ability to generate consistent and growing sales. The other critical elements are having
sustainable operating profit margins and being properly financed.
Difficulty: 1 Easy
Topic: Why Start a Business?
Learning Objective: 01-01 Explain the rationale behind starting an entrepreneurial business.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation


1
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.

,4) Profit margins are key to successful businesses.

Answer: TRUE
Explanation: One of the three critical elements that an entrepreneur has to solve for success is
sustainable operating profit margins. Profit margins are key to successful businesses.
Difficulty: 1 Easy
Topic: Why Start a Business?
Learning Objective: 01-01 Explain the rationale behind starting an entrepreneurial business.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

5) Corporate America employs more people now than it did 10 years ago.

Answer: FALSE
Explanation: Corporate America has been downsizing.
Difficulty: 1 Easy
Topic: Why Start a Business?
Learning Objective: 01-01 Explain the rationale behind starting an entrepreneurial business.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

6) Small companies can take advantage of economies of scale better than large firms.

Answer: FALSE
Explanation: Economies of scale is a condition that allows the long-run average cost to continue
downward as production increases. It can lead to a condition where a single firm making 100
percent of the product is the most efficient.
Difficulty: 1 Easy
Topic: Why Start a Business?
Learning Objective: 01-01 Explain the rationale behind starting an entrepreneurial business.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

7) The rate of small-business failure has declined.

Answer: TRUE
Explanation: Corporate America has been downsizing, the rate of start-ups has grown, and the
rate for small-business failures has declined.
Difficulty: 1 Easy
Topic: Why Start a Business?
Learning Objective: 01-01 Explain the rationale behind starting an entrepreneurial business.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
2
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.

, 8) Alexis de Tocqueville, the French statesman, stated, "United States was not so much a nation
with ventures … but instead a nation of innumerable small ventures."

Answer: TRUE
Explanation: Alexis de Tocqueville was a Frenchman who toured the United States in the early
1830s and wrote a famous analysis of the country. One of his observations was that the United
States was not so much a nation with ventures that were marvelous in their grandeur, but instead,
a nation of innumerable small ventures.
Difficulty: 1 Easy
Topic: A Brief History of Entrepreneurial Businesses in the United States
Learning Objective: 01-02 Discuss the history of entrepreneurship in the United States.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

9) Charles Wilson, secretary of defense for President Eisenhower, stated, "What is good for
General Motors is good for the nation."

Answer: TRUE
Explanation: After World War II, Charles Wilson, secretary of defense for President
Eisenhower, made the famous statement that "what is good for General Motors is good for the
nation." The implication was that what was good for big business would be good for all of the
people in the country.
Difficulty: 1 Easy
Topic: A Brief History of Entrepreneurial Businesses in the United States
Learning Objective: 01-02 Discuss the history of entrepreneurship in the United States.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

10) In the late 1970s and 1980s, the United States occupied the dominant economic position in
the world.

Answer: FALSE
Explanation: In the late 1970s and early 1980s, the nation was in economic turmoil as many of
the large firms that had grown to dominate the U.S. economy were having difficulty, owing to
global competition. The Japanese were in the dominant economic position in the world, and the
widely discussed fear was that the United States was in decline much as Britain had been 100
years earlier.
Difficulty: 1 Easy
Topic: A Brief History of Entrepreneurial Businesses in the United States
Learning Objective: 01-02 Discuss the history of entrepreneurship in the United States.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

3
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamsExpert. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £24.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

64302 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 15 years now

Start selling

Recently viewed by you

Exam (elaborations) ·

(0)

Chapter 4 Workbook [Hartmann Nursing Assistant Care The Basics] Body Systems and Related Conditions Exam

Exam (elaborations) ·

(0)

Test bank ham's primary care geriatrics a case based approach 6th edition 2023-2024 Latest Update

Exam (elaborations) ·

(0)

Test Bank Pharmacology A Patient-Centered Nursing Process Approach, 11th Edition by Linda E. McCuistion

Other ·

(0)

ETHC 445N Week 3 Assignment; Course Project Milestone - Topic Selection and Discussion; Capital Punishment

Exam (elaborations) ·

(0)

MATH399N Statistics Week 4 Lab/ MATH 399N Statistics Week 4 Lab (New 2021): Chamberlain College of Nursing

Exam (elaborations) ·

(0)

Test Bank - Microbiology by OpenStax [Vol.1 and Vol.2] latest edition 2024 || Chapter 1-26, All chapters

Exam (elaborations) ·

(0)

NR-442: | NR 442 COMMUNITY HEALTH NURSING EXAM 1 {i} WITH 100% CORRECT MARKING SCHEME /VERIFIED ANSWERS

Exam (elaborations) ·

(0)

HESI ENTRANCE EXAM VOCABULARY EXAM QUESTIONS WITH COMPLETE SOLUTIONS 100% ANSWERED AND UPDATED 2024/2025

Exam (elaborations) ·

(0)

LMR Georgette’s PMHNP Certification Exam Latest 2023-2024 Questions And Correct Answers(Verified Answers)
£24.49
  • (0)
Add to cart
Added