Question 1

Small enterprises are the most common form of establishment, regardless of the industry.

Accepted Answer

Small enterprises are indeed the most common form of establishment across various industries worldwide, primarily because they require less capital to start and can be more adaptable to changes in the market.

Question 2

Gazelles produced 5 million jobs in the downsizing years of the 1990's.

Accepted Answer

Gazelles, which are high-growth companies, were responsible for creating a significant number of jobs during the 1990s, a period marked by widespread corporate downsizing. These companies, despite being small in number, contributed disproportionately to job creation, offsetting job losses from larger, established companies.

Question 3

Gazelles always operate in national or international markets.

Accepted Answer

Gazelles can operate in local, national, or international markets. Their defining characteristic is rapid growth in revenues or employment, not the scale of their market.

Question 4

Women's share of self employment will still lag behind that of men by the end of 2005.

Accepted Answer

The answer of Women's share of self employment will still...

Question 5

There is no single definition of an entrepreneur; however research is providing a sharper focus on the subject.

Accepted Answer

Entrepreneurship is a broad and diverse field, with various definitions emphasizing different aspects such as innovation, risk-taking, and opportunity recognition. Research continues to refine our understanding of what it means to be an entrepreneur.

Question 6

In the past century, entrepreneurship has become closely linked with socialism and regulated business.

Accepted Answer

Entrepreneurship is more commonly associated with capitalism and free markets, where individuals have the freedom to create and run businesses with minimal government intervention, contrasting with the principles of socialism which often involve more regulation and government control over businesses.

Question 7

The entrepreneurial events approach focuses on such factors as initiative, organization, autonomy, and risk taking.

Accepted Answer

The entrepreneurial events approach indeed emphasizes factors like initiative, organization, autonomy, and risk-taking, as these are key characteristics and behaviors that drive entrepreneurial success.

Question 8

Since the new century the US has had an annual new firm birth rate of&#10;A)4-6 per 100 existing establishments&#10;B)14-16 per 100 existing establishments&#10;C)50-60 per 100 existing establishments&#10;D)almost none

Accepted Answer

The correct answer is B) 14-16 per 100 existing establishments. This rate reflects the dynamic nature of the U.S. economy, where new firms are constantly being created, contributing to innovation, job creation, and economic growth.

Question 9

Which is a key factor in successful entrepreneurship?&#10;A)identifying the strengths of a venture&#10;B)setting up clear timetables&#10;C)minimizing problems through careful strategy formulation&#10;D)the product itself

Accepted Answer

The answer of Which is a key factor in successful...

Question 10

Money is necessary but not sufficient for entrepreneurs to survive because&#10;A)Lack of preparation and planning can be a main source of failure.&#10;B)The ups and downs of the economy determine the entrepreneur's success.&#10;C)The idea is the source of success.&#10;D)Money and being in the right place at the right time spells success.

Accepted Answer

Lack of preparation and planning can lead to failure regardless of the amount of money invested, as success in entrepreneurship often requires careful planning, strategy, and execution beyond just financial investment.

Question 11

Entrepreneurs are more accurately depicted by which of the following:&#10;A)entrepreneurs are gamblers&#10;B)entrepreneurs are extreme risk takers&#10;C)entrepreneurs are calculated risk takers&#10;D)entrepreneurs often don't want to know how much risk is involved

Accepted Answer

The answer of Entrepreneurs are more accurately depicted by which...

Question 12

The Entrepreneurial Assessment Approach stressed that assessments must be made ______ in regard to the entrepreneur, the venture, and the environment.&#10;A)qualitatively and quantitatively&#10;B)strategically and ethically&#10;C)a and b&#10;D)financially

Accepted Answer

The answer of The Entrepreneurial Assessment Approach stressed that assessments...

Deck 1: Entrepreneurship: Evolutionary Development-Revolutionary Impact