Deck 1: The Role of Entrepreneurship and Small Business in Canada

Question 1

Determining the number of new small businesses that are established each year

A)is a matter of reviewing new business listing in the Canada.411 web site
B)is not an interesting statistic
C)has proved to be difficult if not impossible
D)is a straightforward process of examining new business registrations records

Answer 1

C

Question 2

The small business competitive environment has been mostly affected by

A)the globalization of markets AND big business's response to small business
B)increasing fashion demands AND the shrinkage of the middle class
C)new product development AND foreign currency rates of exchange
D)better educated small business owners AND free trade agreements

Answer 2

A

Question 3

It is generally felt that government regulation

A)protects society's interests
B)puts small business at a competitive disadvantage to large business
C)cannot be simplified
D)is an equal burden to most business regardless of their size

Answer 3

B

Question 4

Small businesses are generally able to respond

A)less quickly than large businesses to changes in the economy
B)at the same speed as large businesses to changes in competition
C)more quickly than large business to changes in government policies
D)without any long term impact to large business innovation

Question 5

The majority of innovations and inventions that society benefits from today

A)were the responsibility of individuals in small business
B)were developed in University research labs
C)have been imported form countries with strong research centres
D)were developed in large business with significant research funding

Question 6

Canadian small business activity is more dominant

A)in sectors that are not capital intensive
B)in the same sectors as Canadian large business
C)in areas where commercial rental rates are lower than the national average
D)in locations populated primarily by senior citizens

Question 7

Microbusiness refers to

A)a business that operates in the computer industry
B)a retail business with only one location
C)a totally paperless business
D)a business that has fewer than five employees

Question 8

The goal of social entrepreneurs is to

A)create a workplace environment that is friendly and caring
B)create social change
C)primarily earn a profit without hurting their customers' feelings
D)have the freedom that comes by not being an employee

Question 9

The majority of small business owners are

A)employed elsewhere while running the small business
B)single parents
C)the managers of their business
D)former executives in businesses in the same industry as their small business

Question 10

Today,small business owners are viewed

A)as people who are usually unemployable
B)without much respect
C)with suspicion
D)very positively

Question 11

The BDC provides

A)funding for all small Canadian owned startup businesses
B)programs for small businesses that satisfy certain criteria
C)management support for small businesses in the manufacturing industry
D)access to customer credit reports for small businesses before they extend credit

Question 12

More small businesses will take advantage of computer applications

A)regardless of its cost
B)because it is a fashionable way to run a business
C)as computer technology becomes more affordable
D)if customers demand that they do so

Question 13

Traditional thinking has been that

A)the larger the organization the more likely it is to dominate innovation in its industry
B)the larger the organization the greater its rate of growth
C)the larger the organization the less likely it is to succeed
D)the larger the organization the greater the opportunity to be more productive and profitable

Question 14

Small businesses contribute to the communities in which they operate in non-business ways

A)if they are asked to do so
B)to a greater extent than employees of a large corporation might do
C)on a more limited basis than large corporations
D)because owners of small businesses often are driven by a desire to be liked

Question 15

Operating profit of $300,000

A)is a cut off point for the small business deduction
B)is considered a goal for start-ups to achieve in their first 5 years of operations
C)can rarely be sustained by small business in Canada
D)usually ensures that a small business can obtain bank financing

Question 16

The location of the most rapid growth in self-employment

A)is expected to decline rapidly in the next few years
B)has been impossible to determine
C)is of little interest to motivated new small business owners
D)has been in Ontario and Alberta during the past 10 years

Question 17

Senior entrepreneurs

A)are a small and stable component of Canadian Small Business
B)refers to senior citizens who own a business
C)are rarely successful in their business venture
D)refers to entrepreneurs who have owned their successful business for many years

Question 18

Men and women entrepreneurs tend to

A)have gender specific backgrounds
B)start their businesses at roughly the same age
C)have similar backgrounds
D)work the same number of hours in their businesses

Question 19

The growth of small business in Canada has consistently

A)surpassed the growth of the Canadian economy as a whole
B)fallen short of the growth of larger organizations in Canada
C)been a matter of frustration for Canadian bankers
D)been centered in the Maritime Provinces

Question 20

The current period of rapid change

A)is generally believed to be almost finished
B)is only imaginary and doesn't stand up to close scrutiny
C)is not significant
D)is expected to continue