Business Module 5 Questions || with 100% Error-free Solutions.
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Module
Business Module 5
Institution
Business Module 5
A(n) _____ is someone who identifies a business opportunity and assumes the risk of creating and running a business to take advantage of it.
business owner
preneur
tive
ter correct answers b. entrepreneur
While many _____ ventures are based on innovative ideas, others revolve around impro...
Business Module 5 Questions || with 100% Error-free
Solutions.
A(n) _____ is someone who identifies a business opportunity and assumes the risk of creating
and running a business to take advantage of it.
a.small business owner
b.entrepreneur
c.executive
d.marketer correct answers b. entrepreneur
While many _____ ventures are based on innovative ideas, others revolve around improvements
to existing goods or services.
a.entrepreneurial
b.governmental
c.franchise
d.not-for-profit correct answers a. entrepreneurial
Which of the following best describes entrepreneurs?
a. They're retired businesspeople working on a voluntary basis
b. They're usually onetime managers who open up a business for the sole purpose of providing
an income for themselves and their family
c. None of these
d. They're risk takers who can adjust to changing situations correct answers d. They're risk takers
who can adjust to changing situations
Which of the following is not a characteristic of an entrepreneur?
a. Is confident in their innovation or business idea
b. Is willing to work under a certain degree of uncertainty
c. Has the flexibility to adjust to changing situations
d. Avoids risk correct answers d. Avoids risk
Clarke Santiago and his wife Teresa, parents of two children, opened a buffet restaurant last year.
They've been so successful with their family-style atmosphere that some investor friends have
offered funding to expand into two additional locations. The investors also want to consider
opening several more restaurants each year. After thinking it over, the Santiagos decided to stick
with one restaurant and add catering services—a move that should provide them with a
satisfactory income. The Santiagos' business is a good example of a _____.
a. lifestyle business
b. sole proprietorship
c. start-up business
d. franchise correct answers a. lifestyle business
, As someone who has identified a business opportunity and assumed the risk of creating and
running a business to take advantage of it, Rick Jurmain is an entrepreneur.
False
True correct answers true
Entrepreneurs usually start with few resources but build their businesses with the collective help
of family members and investors.
True
False correct answers false ***
Entrepreneurs typically stay their charted courses rather than cater to changing situations.
False
True correct answers false
At the end of the day, entrepreneurs' successes will depend on their ability to manage and grow
the organizations that they created to implement their visions.
True
False correct answers true
The purpose of starting a business is to satisfy customers.
False
True correct answers true
Small businesses in the U.S. generate about 50% of our gross domestic product (GDP).
True
False correct answers true
The majority of small businesses in the USA are owned by ____.
white females
black females
white males
black males correct answers white males
Owners of small businesses are responsible for much of the _____ of U.S. business.
product innovation
healthcare shortfall
short-term debt
wage escalation correct answers product innovation
_____ companies provide valuable services to _____ companies by acting as sales agents for
their products.
Entrepreneurial / corporate
Large / small
Small / large
Wholesale / retail correct answers small/large
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