Deck 12: Women-Owned and Minority-Owned Businesses

Question 1

number of women-owned businesses increased throughout the past few decades.

Answer 1

True

Question 2

is no single reason for the dramatic increase in women-owned businesses.

Answer 2

True

Question 3

most common reason women cite for becoming entrepreneurs is to earn a higher wage than with a corporate job.

Answer 3

False

Question 4

Women's dissatisfaction with corporate life includes layoffs, the glass ceiling, and conflict between family and work responsibilities.

Question 5

with male entrepreneurs, many women start a business because they have a good business idea.

Question 6

women-owned businesses have grown more slowly and posted lower profits than companies owned by men.

Question 7

entrepreneurs define success in the same way as men.

Question 8

large number of women-owned businesses are in the service sector.

Question 9

Service businesses are often smaller than businesses in other industries such as manufacturing and wholesaling.

Question 10

Women typically start businesses with more start-up capital than men.

Question 11

Although the number of women entrepreneurs has increased in the United States, this trend has not occurred in other countries.

Question 12

The term "minority entrepreneurs" includes ethnic entrepreneurs, immigrant entrepreneurs, and entrepreneurs from minority populations.

Question 13

Minority entrepreneurs cannot be viewed as a homogeneous group.

Question 14

African-Americans in the United States did not engage in entrepreneurship until after the 1960s.

Question 15

Korean-Americans have the lowest business-ownership rate of any ethnic or racial group in the United States.

Question 16

Koreans attribute part of their success as entrepreneurs to a cultural tradition of pride and self-reliance.

Question 17

Many Koreans and Hispanic entrepreneurs see opportunities in areas of cities that have been deserted by other businesses.

Question 18

The Hispanic culture is comprised of many subgroups including Mexicans, Cubans, Spaniards, Puerto Rican, and others.

Question 19

Which of the following is false?

A) The number of women-owned businesses grew at a rapid rate throughout the past few decades.
B) While some experts believe women-owned businesses remain small by choice, others believe it is because they face unique obstacles.
C) Most women-owned businesses are in the retail industry.
D) Glass-ceiling issues have been cited by women as a motivation for becoming an entrepreneur.

Question 20

During the past few decades the number of businesses owned by women

A) increased.
B) decreased.
C) remained the same.
D) was not recorded.

Question 21

Which of the following is true concerning women-owned businesses?

A) They account for more than a third of all U.S. businesses.
B) They are usually smaller than the businesses owned by men.
C) They start businesses with less outside financing than companies started by men.
D) all of the above.

Question 22

Women-owned businesses may be smaller than those owned by men because

A) women entrepreneurs define success differently than men.
B) they consider job flexibility more important than money.
C) the businesses are usually in the service sector and service businesses are usually smaller than manufacturing or wholesaling.
D) all of the above.

Question 23

Women-owned businesses may be smaller than those owned by men because they

A) cannot find good quality training programs.
B) have a more difficult time finding employees.
C) do not have equal access to capital.
D) none of the above.

Question 24

Women-owned businesses may be smaller than those owned by men because they

A) cannot find good quality training programs.
B) have a more difficult time finding employees.
C) are younger establishments and small businesses take time to grow.
D) do not have a similar customer base.

Question 25

Which of the following is true concerning women-owned businesses?

A) Female entrepreneurs usually start businesses with less capital than male entrepreneurs.
B) Many of the women-owned businesses are concentrated in the service sectors.
C) The main reason women start businesses is to make more money than when working for someone else.
D) all of the above.

Question 26

Many people believe that women-owned businesses could grow larger if they were given

A) equal access to capital.
B) entrepreneurial training.
C) better locations.
D) better accounting advice.

Question 27

One study found that women defined success as

A) having control over their own destinies.
B) building ongoing relationships with clients.
C) doing something fulfilling.
D) all of the above.

Question 28

Studies have found that women defined success as having control over their destinies whereas men defined success in terms of

A) doing something fulfilling.
B) achieving goals.
C) building relationships with clients.
D) earning a profit.

Question 29

Female entrepreneurs typically start businesses with less capital than male entrepreneurs. Which is not a reason for this difference?

A) Women tend to start service businesses that require less capital.
B) Women may not have developed networks to refer them to financing sources.
C) Women may not have equal access to capital.
D) All of the above.

Question 30

Many of the women-owned businesses are concentrated in the

A) service sector.
B) wholesaling industry.
C) manufacturing industry.
D) medical industry.

Question 31

The Women President's Organization is comprised of women-business owners

A) in the construction industry.
B) in the service industry.
C) who own businesses that gross $2 million in annual sales.
D) who own businesses that generate an annual profit of $100,000.

Question 32

African-Americans in the United States were entrepreneurs

A) only after passage of the Civil Rights Bill.
B) beginning in the late 1700s.
C) only in the past few decades.
D) only after the Civil War.

Question 33

The term "minority entrepreneurs" includes

A) ethnic entrepreneurs.
B) immigrant entrepreneurs.
C) entrepreneurs from minority populations.
D) all of the above.

Question 34

Immigrant entrepreneurs are those who

A) recently arrived in the country.
B) start a business catering to a minority population.
C) have been in the United States less than a year.
D) all of the above.

Question 35

Which is not true of ethnic entrepreneurs?

A) They may interact with people sharing a common national background.
B) They are always immigrants.
C) They may interact with people sharing a common migration experience.
D) All of the above are true.

Question 36

Madam C. J. Walker was

A) the first black female millionaire.
B) the first successful minority entrepreneurs.
C) initially successful, but eventually declared bankruptcy.
D) all of the above.

Question 37

The highest business ownership rate of any ethnic or racial group in the United States is by

A) whites.
B) Hispanics.
C) Koreans.
D) blacks.

Question 38

Korean-Americans attribute their entrepreneurial success to

A) hard work.
B) financial support from fellow immigrants.
C) a cultural tradition of pride and self-reliance.
D) all of the above.

Question 39

Korean-Americans attribute part of their entrepreneurial success to

A) superior intelligence.
B) better planning.
C) a cultural tradition of pride and self-reliance.
D) all of the above.

Question 40

The Hispanic culture has many subgroups including

A) Mexicans.
B) Cubans.
C) Puerto Ricans.
D) all of the above.

Question 41

Which of the following is false?

A) The first Cuban refugees who came to Miami in the 1960s and 1970s were mostly middle-class immigrants.
B) Cuban entrepreneurs saw their market increase as more Cubans and Haitians entered Florida during the 1980s.
C) Hispanics have not been able to enter the franchised food industry.
D) None of the above.

Question 42

Which of the following is true?

A) Minority entrepreneurs have been successful in obtaining venture capital.
B) By the year 2050, it is estimated the one of every four people in the United States will be Latino.
C) A recent study found that African-Americans are less likely to start a business than Caucasians.
D) All of the above.