BAM 418 Final small business management

All 100 questions answered. Preview i only listed the first page.

1) The nation is rapidly moving from:

a. industrial to knowledge-based

b. industrial to capitalism

c. capitalism to industrial

d. none of the above

2) Entrepreneurs start businesses for a number of reasons including:

a. the opportunity to get rich much quicker than if they work for a large company

b. having to deal with less government regulation than as an executive of a large

company

c. an opportunity to make a difference

d. a much lower risk of career failure due to layoff or acquisition than working for a

large company

3) Surveys show that owners of small businesses believe that:

a. they work harder on their own than if they worked for someone else

b. they earn less than if they worked for someone else

c. venture capital is relatively easy to raise

d. they are less satisfied than if they worked for someone else

4) Which of the following is true about home-based businesses?

a. The average home-based business earns over $50,000 a year.

b. The growth of technology has significantly slowed the growth of home-based businesses.

c. Over 2/3 of all home-based businesses are owned by minority males.

d. Home-based businesses tend to focus on blue-collar, lower skill industries.

5) “Copreneurs” are marked by:

a. a decline in the number of businesses

b. their similarity to the traditional mom and pop operation

c. a greater success at raising venture capital than sole proprietorship-type businesses

d. a division of labor by expertise

6) The location of the business is especially important for what type of start-up business?

a. manufacturing

b. service

c. retail

d. computer