FM 116 - Chap 7 Review Questions and Correct Answers
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Course
FM 116
Institution
FM 116
People who risk their time, money, and other resources to start and manage a business are known as _____. a. employees b. executives c. regulators d. entrepreneurs d. entrepreneurs
Which of the following is an appealing benefit that entrepreneurs enjoy? a. Minimal risk b. Minimal workload c. Flexi...
FM 116 - Chap 7 Review Questions and
Correct Answers
People who risk their time, money, and other resources to start and manage a business
are known as _____.
a. employees
b. executives
c. regulators
d. entrepreneurs ✅d. entrepreneurs
Which of the following is an appealing benefit that entrepreneurs enjoy?
a. Minimal risk
b. Minimal workload
c. Flexible schedule
d. Fixed income ✅c. Flexible schedule
_____ is a characteristic that most successful entrepreneurs possess.
a. Apathy
b. Energy
c. Intolerance of failure
d. External locus of control ✅b. Energy
Which of the following is a characteristic of successful entrepreneurs?
a. Intolerance of uncertainty
b. Intolerance of failure
c. Confidence
d. Apathy ✅c. Confidence
Which of the following statements is true of people with an external locus of control?
a. They feel that they have complete control over their lives.
b. They are extremely self-reliant.
c. They believe that the actions of others can control their fate.
d. They validate their own efforts. ✅c. They believe that the actions of others can
control their fate.
Entrepreneurs who mortgage their homes for the business and stake their reputation on
the success of an unproven product demonstrate:
a. an external locus of control.
b. a low tolerance of failure.
c. a high tolerance of uncertainty.
d. low self-reliance. ✅c. a high tolerance of uncertainty.
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