1. Entrepreneurship is a form of creative destruction.
ANS: T PTS: 1
2. The entrepreneurial mindset cannot be found within large corporations or socially responsible
nonprofit organizations.
ANS: F PTS: 1
3. Entrepreneurship can be found in some form in every country, race, age group, and (increasingly) in
women as often as in men.
ANS: T PTS: 1
4. Entrepreneurial ventures are not responsible for significant job creation.
ANS: F PTS: 1
5. Entrepreneurial ventures and small businesses are related, but they are not the same in most respects.
ANS: T PTS: 1
6. The vital issue for entrepreneurs is not avoiding failure but minimizing the cost of a possible failure.
ANS: T PTS: 1
7. The term entrepreneur has been in popular use for more than 100 years.
ANS: F PTS: 1
8. Economic turmoil has a plus side because it produces opportunities for entrepreneurs who are
comfortable with environmental factors outside their control.
ANS: T PTS: 1
9. Entrepreneurial ventures are responsible for job creation that is disproportionate to the net total new
jobs created in the U.S. over the past 25 years.
1. As entrepreneurial firms achieve noticeable levels of success and a new industry grows, it generally
becomes more ____ as a result of so many firms competing for position.
a. stable
b. unstable
c. consolidated
d. fragmented
e. None of these choices
ANS: D PTS: 1
2. ____ entrepreneurship is characteristic of small lifestyle businesses.
a. Replicative
b. Innovative
c. Local
d. Fragmented
e. None of these choices
ANS: A PTS: 1
3. The ____ has been called the Decade of Entrepreneurship.
a. 1950s
b. 1960s
c. 1970s
d. 1980s
e. 1990s
ANS: D PTS: 1
4. Women now comprise ____ of all entrepreneurial activity globally.
a. one-quarter
b. one-third
c. one-half
d. the majority
e. the highest levels
ANS: B PTS: 1
5. Entrepreneurs are taking advantage of several subtrends within the ____ sector, including eco-iconic
marketing.
a. international
b. technology
c. green power
d. educational
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