Deck 7: Entrepreneurship Today

Question 1

1955, General Electric was the country's biggest company with nearly $10 billion in sales.

Answer 1

False

Question 2

entrepreneurship can be seen in places around the world, it is most robust and pervasive in the United States.

Answer 2

True

Question 3

number of people per business has been remarkably constant since the end of World War II.

Answer 3

False

Question 4

Deregulation provided a major setback to entrepreneurship.

Question 5

improvements in our economy in the early 1990s have brought an end to corporate downsizing.

Question 6

the heart of the new world order are changes in the way in which business is conducted.

Question 7

were a societal invention to provide the needed human resource element to allow the industrial revolution to proceed.

Question 8

Entrepreneurship requires a culture very much like that of the United States to survive.

Question 9

Because of the magnitude of economic problems in many parts of the world, the World Bank has withdrawn its support of programs fostering entrepreneurship.

Question 10

The Grameen Bank provides microloans for microenterprises.

Question 11

The historic changes in the world economy of the 1980s and 1990s have been part of

A) the technosociety.
B) the new world order.
C) the entrepreneurial-controlled market.
D) the free market decline.
E) all of the above.

Question 12

Among the changes occurring in the world economy of the 1980s and 1990s is/are

A) technological changes.
B) increasing worldwide competition.
C) thousands of jobs being eliminated.
D) all of the above.
E) none of the above.

Question 13

Which is TRUE of entrepreneurship during the 1980s and 1990?

A) There has been an unparalleled reduction.
B) It is a major source of vitality in today's world economy.
C) It has started to emerge.
D) All of the above.
E) None of the above.

Question 14

With regard to the importance of size, the attitude in 1955 seemed to be

A) big firms are too rigid.
B) big firms are usually inefficient.
C) c. with size come great advantages that give a company great strength.
D) big firms can't attract good managers.
E) none of the above.

Question 15

By the 1950s entrepreneurship

A) was sweeping the country.
B) was regarded as much less important to our economy than big business.
C) had been victimized by unfair foreign competition.
D) was the darling of Wall Street.
E) none of the above.

Question 16

One of the transformations of business in the new world order is steady growth in

A) agriculture.
B) the Federal government.
C) service industries.
D) manufacturing.

Question 17

From the mid-50s to the mid-60s some foreign competition began to emerge, and as a result, big business in the United States

A) barely seemed to notice.
B) immediately panicked.
C) went to the government for protection.
D) improved its methods of production.
E) none of the above.

Question 18

The vitality of entrepreneurship versus that of big business during recent years has been

A) about the same.
B) greater.
C) less.
D) considerably less.

Question 19

The wave of deregulation of the late 1970s changed which of the following industries?

A) Trucking
B) Airlines
C) Communication
D) All of the above
E) None of the above

Question 20

The influence of foreign competition and deregulation in our economy during the past 20 to 30 years has

A) been enormous.
B) changed the structure of American industry.
C) given opportunities to many entrepreneurs.
D) all of the above.
E) none of the above.

Question 21

The deregulation of the late 1970s involved many parts of our economy and

A) were aimed at protecting big firms.
B) were particularly hard on small businesses.
C) resulted in the entry of many small firms into industries that for years had been dominated by giant companies.
D) led to a wave of unlawful corporate behavior.

Question 22

Managers who have lost their jobs due to corporate downsizing are likely to become entrepreneurs because

A) they frequently have considerable experience.
B) their chances of getting a job as good as the one they lost are slim.
C) they desire independence.
D) all of the above.
E) none of the above.

Question 23

The impact on the individual of the widespread loss of corporate jobs has been

A) a loss of a sense of security.
B) a reduction in traditional career opportunities.
C) a greater likelihood to turn to entrepreneurship.
D) all of the above.

Question 24

The biggest source of new jobs in recent years has been

A) large firms.
B) small firms.
C) exporters.
D) law enforcement.

Question 25

The spread of entrepreneurship has been

A) limited to developed countries.
B) concentrated in third world nations.
C) eliminated in the Soviet Union.
D) all of the above.
E) none of the above.

Question 26

The creation of new ventures has

A) been the chief source of economic vigor for the last several years in the United States.
B) been stymied by excessive government regulation.
C) had little impact on the economy.
D) a negative correlation with the level of education.

Question 27

In 1955

A) Fortune magazine established its list of the country's 500 largest firms.
B) AT&T was the country's biggest company.
C) Japan produced more automobiles than any other nation.
D) farmers still accounted for 70 percent of our country's workforce.
E) none of the above.

Question 28

The attitude toward entrepreneurship among decision makers at the World Bank seems to be

A) it doesn't offer much in dealing with problems of the size faced in many areas worldwide.
B) most nations are not ready for it.
C) it is politically unfeasible in almost all of the southern hemisphere.
D) none of the above.

Question 29

Computer and information technology

A) provides the basis for some ambitious programs to improve the economic lives of groups from many underdeveloped countries.
B) seems to be concentrated in Peru.
C) has met some active resistance from farmers in Niger.
D) none of the above.

Question 30

The Grameen Bank

A) has helped thousands of poor women go into business.
B) has an outstanding repayment record.
C) is based on the idea that capital does not need to be the handmaiden of the rich.
D) all of the above.

Question 31

The relationship between economic change and entrepreneurship is

A) one of incompatibility.
B) unimportant because neither has much impact on the other.
C) positive because entrepreneurship approaches change as an opportunity rather than a threat.
D) all of the above.

Question 32

Which of the following is the lowest of the estimates of the number of businesses started in the Unites States in 2000?

A) 30,000
B) 130,000
C) 300,000
D) 1,000,000

Question 33

The popularity of entrepreneurship in the Unites States is in part the result of

A) corporate downsizing.
B) foreign competition and the lifting of tariffs.
C) inflationary pressures.
D) legislative limits of CEO compensation.

Question 34

The prospect of a long dependable career with a large organization

A) is slimmer than it was 30 years ago.
B) has suffered from frequent announcements of companies reducing their work force.
C) is something that people cannot count on.
D) all of the above.

Question 35

Some writers claim that we may see fewer and fewer jobs in our economy in the future because

A) people no longer want the stability that a job provides.
B) unions have campaigned for the elimination of many jobs.
C) modern technology makes it possible to eliminate many jobs.
D) all of the above.

Question 36

Which of the following describes what happened to total employment in Fortune 500 manufacturing firms during the period 1979-1993?

A) It dropped nearly one-third.
B) It dropped almost 80 percent.
C) It stayed about the same throughout the period.
D) It dropped sharply until the late 1980s after which it rebounded sharply and went beyond its original level.

Question 37

Until rather recently, employment in a large corporation usually meant for the loyal employee

A) bright career prospects.
B) steadily improving earnings and benefits.
C) secure retirement plans.
D) all of the above.

Question 38

The reasons given for downsizing include

A) the need to keep costs at the lowest possible level.
B) any company with more employees than necessary has costs which make it impossible to survive.
C) opening up our economy to international competition has brought pressure from low-cost third-world producers.
D) all of the above.

Question 39

Critics of the practice of downsizing say

A) it is caused more by the greed of top management than by the need of the organization.
B) many large layoffs have come in firms shortly after record profits have been achieved.
C) many executives have bonus plans that are based on cost reductions that require getting rid of many employees.
D) all of the above.