MGT Quiz 1
__________ entrepreneurs are people who start businesses because they cannot find work any other way.
Necessity.
Which of the following is not a characteristic of the entrepreneurial profile?
Preference for taking high risks like a riverboat gambler
Which of the following statements about small businesses' contribution is false?
Small businesses produce 23 percent of the U.S. gross domestic product (GDP).
Immigrants to the United States are ______ times as likely to start businesses as native-born citizens.
1.9
According to economist Joseph Schumpeter:
entrepreneurs are more than just business creators; they are change agents in society.
About 30 percent of family businesses survive into the second generation. ____ percent of those make it to the third generation, and _____ percent of those make it to the fourth generation and beyond.
12; 3
Small businesses make up nearly _____ percent of all businesses that export and account for _____ percent of U.S. export sales.
98; 33
The median salary for entrepreneurs is _______ than that of employed workers; the variability of entrepreneurs' incomes is _______ than that of employed workers.
18 percent higher; higher
Minority entrepreneurs own _____ percent of all businesses in the United States.
22.5
What percentage of all privately held businesses in the United States do women own?
30
About ____ percent of the time users spend on the Internet is on a mobile device, but only ____ percent of small companies have mobile-friendly websites.
37; 26
In the United States, entrepreneurs launch ________ businesses each month.
476,000
The average entrepreneur works ______ hours per week, compared to the _____ hours per week the typical production employee works.
51; 40
Which age group has the highest level of entrepreneurial activity?
55 to 64
What percentage of small businesses have websites?
60
Within ten years of their founding, _____ percent of small businesses will have failed.
66
_______ percent of entrepreneurs say that owning a business requires them to make sacrifices, most often in the areas of family relationships and friendships
67
________ percent of entrepreneurs start their businesses between the ages of 20 and 44.
75
____ percent of the nearly 28 million businesses in the United States are considered "small"?
99.7%
Which of the following statements about the typical entrepreneur is true?
Starts his or her business because he or she has an interest in that particular field and enjoys that type of work.
Which of the following statements about family businesses is false?
The lifespan of the typical family-owned business is 10 years.
Which of the following is characteristic of social entrepreneurs?
They use their skills not only to create profitable businesses but also to achieve economic, social, and environmental goals for the common good of society
According to the Global Entrepreneurship Development Index (GEDI), an index that ranks the quality of the entrepreneurial environment using a variety of factors, which country provides the highest quality entrepreneurial environment?
United States
Which of the following statements about women-owned businesses in the United States is false?
Women own over 10 percent of all businesses in the United States.
A(n) ___________ entrepreneur is someone who starts a company, manages its growth until he or she gets bored, and then sells it to start another company.
leapfrogger
