Question 1

Juanita wants to operate her own business.Although she admits it would be nice to earn a healthy profit,her primary motivation is the excitement and challenge of starting and running a business.Juanita's attitude is different from most small business owners,who usually focus solely on the earnings potential of their ventures,as well as the opportunity to acquire power and prestige.

Accepted Answer

The passage states that Juanita's attitude is different from most small business owners who focus solely on earnings potential, power, and prestige, implying that those are common motivations for small business owners.

Question 2

Independence,challenge,and opportunity are among the key reasons given by those who assume the risks of entrepreneurship.

Accepted Answer

Independence, challenge, and opportunity are commonly cited as motivating factors for entrepreneurs to take on the risks of starting their own businesses.

Question 3

Enterprise zones offer lower tax rates and government assistance to attract private business investment.

Accepted Answer

Enterprise zones are designed to encourage economic development in specific geographical areas by offering tax incentives, regulatory relief, and other government assistance to attract private business investment.

Question 4

The position of our government is to restrict foreign entrepreneurs from operating within the U.S.

Accepted Answer

The position of the U.S. government is not to restrict foreign entrepreneurs from operating within the U.S. In fact, the government has implemented programs like the H-1B visa program to attract foreign talent and encourage entrepreneurship in the country.

Question 5

The U.S.government offers "investor visas" to attract more entrepreneurs.

Accepted Answer

The U.S. government offers the EB-5 visa program, also known as the "investor visa," to attract foreign entrepreneurs who invest in U.S. business ventures.

Question 6

Anthony is an employee of a textbook publisher.However,his desire is to establish a home-based business providing his services to a variety of publishers.Anthony's primary motivation is to escape the 9 to 5 world of corporate publishing and to enjoy the opportunity of working for himself.Anthony is an example of a micropreneur.
Feedback "Micropreneur" to refers to a business owner interested in simply enjoying a better lifestyle and want the opportunity to make a living doing the kind of work they enjoy.

Accepted Answer

The definition of a micropreneur given in the feedback matches Anthony's desire to escape the corporate world and work for himself in a home-based business, which means the statement is true.

Question 7

The Spotlight on Small Business box is testimonial to the fact that entrepreneurs are problem solvers.

Accepted Answer

The statement highlights that entrepreneurs are problem solvers, which means it is true. The Spotlight on Small Business box showcases how small business owners have identified a problem and come up with a solution or product to solve it.

Question 8

State governments create new startup business organizations called enterprise zones that are later sold to private investors.

Accepted Answer

Enterprise zones are typically created by state or local governments to stimulate economic growth in distressed or underdeveloped areas by offering tax breaks, incentives, and other resources to encourage new business development. However, these zones are not designed to be sold to private investors, as they are intended to remain under public oversight and control to benefit the local community.

Question 9

Kylie is employed by Street Wheels,a large corporation that produces accessories for scooters,bicycles,and other children's vehicles.She is a creative force within the company and has helped create and launch several new successful products.Kylie is an example of an intrapreneur.

Accepted Answer

An intrapreneur is an employee within a corporation who takes on entrepreneurial roles by introducing new ideas, products, and services. Kylie's creative contributions to her company's product line demonstrate her intrapreneurial spirit.

Question 10

Jason,Robin,and Ian currently work in the marketing department of a large corporation.They have similar backgrounds and training and are thinking about leaving their company to start their own business.Successful entrepreneurial teams are comprised of these types of people because similarities in knowledge and skill ensure harmony and consistency in their new business.

Accepted Answer

While similarities in knowledge and skill are important, successful entrepreneurial teams often benefit from diversity of experience, perspectives, and expertise. This can bring fresh ideas and a wider range of problem-solving approaches to the business.

Question 11

The United States government views entrepreneurship as a result of an individual's self-motivation.The government can do very little to encourage an individual to become an entrepreneur.

Accepted Answer

While an individual's self-motivation is indeed important for entrepreneurship, the government can play a vital role in encouraging and supporting entrepreneurs. This can be done through policies and programs such as funding for small business loans, tax incentives, and entrepreneurship education and training.

Question 12

A National Business Incubator Association study indicates that over 80 percent of incubator graduates remain in business.

Accepted Answer

According to the National Business Incubator Association study, over 80 percent of incubator graduates remain in business.

Question 13

Successful entrepreneurs are exclusively motivated by the desire to become rich.

Accepted Answer

While making money may be one of the motivations for some entrepreneurs, it is not the only driving force. Many entrepreneurs are motivated by the desire to create something new, to make a positive impact, to gain independence, or to pursue their passions.

Question 14

Business incubators provide assistance to established companies attempting to generate foreign sales.

Accepted Answer

Business incubators primarily focus on providing assistance to new and early-stage companies. They typically offer resources such as office space, mentorship, and funding to help startups grow and succeed. While some incubators may offer services to help established companies enter foreign markets, this is not typically their primary focus.

Question 15

Although corporate managers often exhibit the skills required of successful entrepreneurs,they seldom have the desire to give up the perks and fringe benefits of corporate life and start their own business.

Accepted Answer

The answer of Although corporate managers often exhibit the skills...

Question 16

Entrepreneurial teams increase the cooperation between marketing,production and other functional areas of a business venture.

Accepted Answer

Entrepreneurial teams are comprised of individuals with diverse skill sets and expertise, which leads to increased cooperation between different functional areas of a business venture such as marketing, production, finance, and operations. This collaboration helps to ensure that all areas of the venture are working towards the common goal of success.

Question 17

Jon received a letter in the mail explaining that HE COULD EARN THOUSANDS!!!! by working just a few hours from home.Most likely Jon's letter was a work-at-home scam.

Accepted Answer

This type of letter is commonly used in work-at-home scams to lure individuals into giving personal information or money. It is important to be cautious and do research before pursuing any work-at-home opportunities.

Question 18

Ramsey is a dreamer rather than a doer.This is an important attribute for an entrepreneur since their job is to be creative and develop new ideas that are then implemented by others.

Accepted Answer

The answer of Ramsey is a dreamer rather than a...

Question 19

To be successful,entrepreneurs are dependent on the support of others for encouragement.

Accepted Answer

The answer of To be successful,entrepreneurs are dependent on the...

Question 20

Jacques has eliminated the risk of entrepreneurship by preparing a detailed business plan.

Accepted Answer

While a detailed business plan can help mitigate some risks associated with entrepreneurship, it does not completely eliminate risk. Unforeseen circumstances and market changes can still impact the success of a business.

Quiz 6: Entrepreneurship and Starting a Small Business