SBM2000 Chapter 1 Quiz

Which of the following statements about​ women-owned businesses in the United States is false​?

Women own about 15 percent of all businesses in the United States.

Minority entrepreneurs own​ _____ percent of all businesses in the United States.

29

What percentage of all privately held businesses in the United States are owned by​ women?

31.1

Education is an important part of the entrepreneurial process.​ _____ percent of employed adults who want to start their own businesses say that not knowing where to start the process is a major barrier to achieving their entrepreneurial dreams.

34

More than​ ____ percent of Web searches are conducted on mobile​ devices, but​ ____ percent of small business Web sites are not​ mobile-friendly.

50;32

the average business owner works​ _____ hours per​ week, compared to the 40.2 hours per week the typical U.S. production employee works.

51

After 5​ years, _____ percent of new businesses will have failed.

52

What percentage of small businesses have Web​ sites?

54

percent of entrepreneurs say that they have gone without a paycheck to help their businesses to survive.

54

Over the last 20​ years, which age group in the United States has the highest level of entrepreneurial​ activity?

55 to 64

In the United​ States, entrepreneurs launch​ ________ million businesses annually.

6.6

percent of business owners say that they do not plan to retire from their businesses unless they are forced to for health reasons.

60

​________ percent of business owners say that they do not plan to retire from their businesses unless they are forced to for health reasons.

60

​________ percent of small business owners work more than 40 hours per week.

72

percent of the nearly 29 million businesses in the United States are considered​ "small."

99.7%

​____ percent of the nearly 29 million businesses in the United States are considered​ "small."

99.7%

A(n) ___________ entrepreneur is someone who starts and manages several companies at the same time.

juggler

United States has the highest level of entrepreneurial​ activity

The lifespan of the typical​ family-owned business is 10 years.

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 statements about the typical entrepreneur is true​?

The typical entrepreneur starts his or her business because he or she has an interest in that particular field and enjoys that type of work.

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?

US

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

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

Immigrants to the United States are​ ______ times as likely to start businesses as​ native-born citizens.

2

entrepreneurs are people who start businesses because they cannot find work any other way.

Necessity

​__________ 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).

Globally, the highest rates of entrepreneurial activity are among​ people:

between the ages of 25 and 34

According to economist Joseph​ Schumpeter:

entrepreneurs are more than just business​ creators; they are change agents in society.

Social​ entrepreneurs:

use their entrepreneurial skills not only to create profitable business ventures but also to achieve social and environmental goals for society as a whole.

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