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

Question 1

The majority of small business owners are:

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

Answer 1

C

Question 2

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 less likely it is to succeed.
C) the larger the organization, the greater its rate of growth.
D) the larger the organization, the greater the opportunity to be more productive and profitable.

Answer 2

D

Question 3

Computers allow the entrepreneur to:

A) manage large amounts of information as effectively as larger businesses.
B) provide customers with more attractive receipts.
C) evade charging sales tax for their products.
D) process more transactions than larger businesses.

Answer 3

A

Question 4

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

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

Question 5

The growth of small business in Canada has consistently:

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

Question 6

The majority of innovations and inventions that society benefits from today:

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

Question 7

Microbusinesses refer to:

A) businesses that have fewer than five employees.
B) retail businesses with only one location.
C) businesses that operate in the computer industry.
D) totally paperless businesses.

Question 8

The goal of social entrepreneurs is to:

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

Question 9

Senior entrepreneurs:

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

Question 10

Small businesses are generally able to respond:

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

Question 11

The number of small business-related courses at Canadian colleges and universities have ________ in the past few years.

A) remained the same
B) risen dramatically
C) risen slightly
D) declined

Question 12

The BDC provides:

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

Question 13

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

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

Question 14

Operating profit of $300,000:

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

Question 15

Canadian small business activity is more dominant:

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

Question 16

Today, small business owners are viewed:

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

Question 17

The location of the most rapid growth in self-employment:

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

Question 18

Almost percent of Canadian University students believe they will one day become an entrepreneur.

A) 20
B) 40
C) 50
D) 30

Question 19

The current period of rapid change:

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

Question 20

Men and women entrepreneurs tend to:

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

Question 21

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) better educated small business owners and free trade agreements.
D) new product development and foreign currency rates of exchange.

Question 22

It is generally felt that government regulation:

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