Entrepreneurship Ch. 1 Study Guide
Small firms with fewer than 500 employees represent about ________ percent of all businesses in the United States.
99
__________ businesses generate fresh produce and other farm products.
Agriculture
The ability to learn a particular kind of job is called ____________.
Aptitude
__________ is a creative problem-solving technique that involves generating a large number of fresh ideas.
Brainstorming
Which of the following would generally NOT be considered a desirable characteristic of a good team member?
Confrontational
Which of the following was NOT a provision of the America Recovery and Reinvestment Act of 2009?
Decreasing equity capital for high-growth businesses
The first step in the problem-solving model is to __________ the problem.
Define
Which of the following is an example of a service business?
Enterprise Rent-a-Car
People who own, operate, and take the risk of a business venture are called
Entrepreneurs
The process of running a business on one's own is called______________
Entrepreneurship
The FINAL step of the problem-solving model is to
Evaluate the action
"I will learn more about starting my own business" is a good example of a SMART goal.
False
The best way for an entrepreneur to make a decision is to go with her intuition or "gut feeling."
False
Though there are more small businesses in the United States than large businesses, it is the large business that create the most jobs.
False
A(n) ___________ goal might include how much money your business will earn and how quickly you will pay off debts.
Financial
Thoughts or concepts that come from creative thinking are called
Ideas
In a brainstorming session, it is NOT a good idea to
Immediately reject the most outlandish ideas as "foolish" or "crazy"
The American Recovery and ____________ Act of 2009 was passed to stimulate the American economy after the 2008 economic slowdown.
Reinvestment
A(n) __________ is an evaluation of your strengths and weaknesses.
Self-Assessment
Special meetings where companies of the same or related industries display their products are called __________.
Trade Shows
More than half of all new businesses do not survive beyond four years.
True
Most people who own their own businesses do so for more than just monetary gain.
True
One way a business can "go green" is to install energy-efficient light-bulbs throughout the facility.
True
The more often you use the problem-solving model, the better skilled at decision making you will become.
True
A wholesaling business sells products directly to consumers.
False
Absolutely anyone can be a successful entrepreneur.
False
Almost all entrepreneurs are middle-aged people with prior business experience.
False
Entrepreneurial opportunities tend to disappear completely during downturns in the economy.
False
Employees, customers, and creditors are all stakeholders in an entrepreneur's business.
True
When an entrepreneur considers whether or not behavior is ethical, both the actions and the result of those actions need to be considered.
True
