According to the textbook, there are three types of startup firms: entrepreneurial firms, lifestyle firms, and:
A) civil firms
B) salary-substitute firms
C) statutory firms
D) standard-of-living firms
E) innovative firms

Question

Quizplus · Accepted Answer

The correct answer is B, salary-substitute firms. Salary-substitute firms are businesses people start to replace their previous job and earn a similar income level. These firms are not necessarily entrepreneurial, meaning they are not intended to be high-growth or innovative ventures. Civil, statutory, and standard-of-living firms are not types of startup firms mentioned in the textbook. While innovative firms are a type of startup, they are included in the category of entrepreneurial firms.

According to the Textbook, There Are Three Types of Startup