Question 1

The belief by individuals that their future is not within their control,but rather is influenced by some external force is considered

Accepted Answer

This belief is an example of an external locus of control, meaning that the individual perceives their outcomes to be determined by factors outside of their control rather than by their own actions or decisions.

Question 2

Which of the following is the belief by individuals that their future is not within their control but rather is influenced by external forces?

Accepted Answer

External locus of control is the belief that external factors such as luck, fate, or others are responsible for shaping one's future and outcomes, rather than personal control or actions.

Question 3

____ refers to the belief by individuals that their future is within their control and that external forces will have little influence.

Accepted Answer

Internal locus of control refers to the belief that one's future is within their control and that external forces will have little influence. This can lead to increased motivation and a sense of personal responsibility for one's successes and failures.

Question 4

In the United States,minorities own ____ firms.

Accepted Answer

The answer of In the United States,minorities own ____ firms.
...

Question 5

Which of the following is the type of business that most entrepreneurs start?

Accepted Answer

The answer of Which of the following is the type...

Question 6

Which of the following is the process of starting a business venture,organizing the resources,and taking the risks?

Accepted Answer

Entrepreneurship is the process of starting a business venture, organizing the resources, and taking the risks. Intrapreneurship refers to the entrepreneurial activities that take place within an existing organization. Small business administration is a government agency that provides support to small businesses. Venture capital and equity financing are sources of funding for entrepreneurs, but they do not encompass the entire process of starting and organizing a business venture.

Question 7

A(n)____ is someone who recognizes a viable idea for a business product or service and carries it out.

Accepted Answer

An entrepreneur is someone who recognizes a viable idea for a business product or service and carries it out. An intrapreneur is someone who develops a new idea within an existing organization, but not necessarily starting a new business venture. A manager is responsible for overseeing the daily operations of a business or organization. A leader is someone who inspires and influences others towards a common goal. An introvert is someone who tends to be more inwardly focused and shy.

Question 8

Being interested in computers,Jose Cohata came up with an idea of personalizing the screen saver programs with family pictures.After trying a couple of programs,Jose started marketing this service to neighbors and area businesses.Jose's activities can be described as a(n)

Accepted Answer

Jose's activities involve creating and marketing a new product/service, which is a key characteristic of entrepreneurship. He identified a need and created a solution for personalized screen saver programs.

Question 9

Lauren Dean strongly believes in her abilities and feels that she controls her own destiny.She can be described as having a(n)

Accepted Answer

Lauren Dean's belief that she controls her own destiny suggests an internal locus of control, meaning that she believes her actions and decisions determine the outcomes in her life, rather than external factors such as luck or fate.

Question 10

Which of the following demographic factors distinguish entrepreneurs from others?

Accepted Answer

The answer of Which of the following demographic factors distinguish...

Question 11

Tracy's Trikes believes that each employee should enjoy the idea of working on something that is new,creative,or personally meaningful.Tracy's Trikes exemplifies which of the categories of small business owners?

Accepted Answer

Idealists are characterized by a desire to work on something that aligns with their personal values and passions. Tracy's Trikes believing that each employee should enjoy working on something new, creative, or personally meaningful is indicative of an idealistic approach to business ownership.

Question 12

According to the Small Business Administration,which of these defines a small business?

Accepted Answer

The SBA's definition of small business is one that is independently owned and operated and not dominant in its field of action.

Question 13

Which of the following are high-energy people who enjoy handling every detail of their own businesses?

Accepted Answer

Jugglers are known for their high-energy and ability to handle multiple tasks and details simultaneously. They are often entrepreneurs who run their own businesses and take on many responsibilities. Idealists, sustainers, and optimizers may also be hard workers, but they do not necessarily enjoy handling every detail of their own businesses like jugglers do.

Question 14

Small businesses represent ____ percent of all firms and employ about half of all private sector employees.

Accepted Answer

According to the Small Business Administration, small businesses represent 99.7% of all firms and employ about half of all private sector employees.

Question 15

If a small business owner enjoys the chance to balance work and personal life,he would be considered a(n)

Accepted Answer

The answer of If a small business owner enjoys the...

Question 16

Small firms that file for patents typically produce ____ more patents per employee than large patenting firms.

Accepted Answer

The answer of Small firms that file for patents typically...

Question 17

Which of these characteristics is associated with entrepreneurship?

Accepted Answer

An internal locus of control, or the belief that one's actions can influence outcomes, is often associated with entrepreneurship. This mindset allows entrepreneurs to take risks and have confidence in their abilities to succeed.

Question 18

Today,inspired by the growth of companies such as Amazon.com,entrepreneurs are flocking to the ____ to start new businesses.

Accepted Answer

The growth of companies like Amazon.com has been primarily through the use of the Internet. Therefore, it makes sense that entrepreneurs are flocking to the Internet to start new businesses.

Question 19

An entrepreneur

Accepted Answer

All of these options are true statements about an entrepreneur. They assume the risks of the business both financially and legally, while also reaping the rewards. Entrepreneurs recognize potential business ideas and have the drive to carry them out, making them a unique and important part of the business world.

Question 20

At the success stage of growth,a company's substantial financial gains may come at the cost of losing its advantages of small size,including flexibility and the entrepreneurial spirit.

Accepted Answer

The answer of At the success stage of growth,a company's...

Quiz 6: Managing Small Business Start-Ups