Entrepreneurship Test1

A travel agency is a retailing business because it sells airline and train tickets.

False

Although there have been many important entrepreneurs in the twentieth century, none existed before 1900.

False

Aptitude is the ability to evaluate your strengths and weaknesses.

False

Entrepreneurial businesses include retailing businesses, such as clothing and furniture stores, but do not include service businesses.

False

Everyone has the qualities and aptitude needed to become a successful entrepreneur.

False

Successful entrepreneurs need to be self-confident because they must make decisions alone, but they do not need to be creative because they can hire creative people.

False

Your financial and non-financial goals can be unrealistic because you will be able to change them after you start your business.

False

During the colonial years in America, entrepreneurs were

bankers

Entrepreneurs try to meet the needs of the marketplace by supplying a service or product.

True

An advantage of entrepreneurship is that business owners make all the decisions themselves.

False

Entrepreneurs and employees are both directly affected by the consequences of the decisions they make.

False

It is not necessary to determine how much money ot will take to start a business because you will be able to borrow the money you need.

False

Many companies display their products at the Small Business Administration (SBA).

False

Most businesses begin operations by borrowing money and usually pay these debts in ten years.

False

Small companies cannot take as many risks as large companies, so small companies are less likely to be innovative.

False

First entrepreneur to provide paid sick and vacation leave?

Rose Knox

Manufacturing businesses produce the products they sell.

True