BUS 101: Chapter 7 Practice Quiz
Which of the following statements is true of buying an established business?
Getting financing and credit is less challenging than when starting a business from scratch
_____ is the process of funding ventures by raising money from a large number of investors via the Internet.
Crowdfunding
Which of the following statements is true of starting a business from scratch?
It is hard to get credit from both lenders and suppliers
In the context of funding options for small businesses, which of the following offers a potential funding source for new business start-ups?
Peer-to-peer lending
Small firms tend to be effective innovators for a number of reasons. Most importantly, their very reason for being often ties to:
a brand-new idea
Which of the following is an advantage of starting a business from scratch?
You do not have to deal with a prior owner's bad decisions
In the context of opportunities and threats, overhead costs for small businesses:
are often lower than big companies.
Beyond the sheer value of the goods and services they generate, small businesses make a powerful contribution to the U.S. economy in terms of:
creating new jobs
According to small business experts, while raising start-up funds from friends and relatives, it is:
essential to keep the relationship as professional as possible
People with an external locus of control:
feel buffeted by forces such as random luck
Technological tools such as the Internet and email have:
made it easy for small business owners to manage their firms on the go
In low-income countries, a high percentage of entrepreneurs are considered _____.
necessity entrepreneurs