Question 1

The part of the economy that is made up of companies and organizations not owned or controlled by the government is called
crown corporations.
split sector.
legislated corporations.
public sector.
the private sector.

Accepted Answer

the private sector.

Question 2

Women account for ______ of all new businesses that are formed, and they lead ______ percent of the small- and medium-sized businesses that export goods and services.
one-fifth; 6
one-quarter; 18
one-third; 18
one-half; 12
two-thirds; 24

Accepted Answer

one-half; 12

Question 3

The Heritage Foundation's "index of economic freedom" measures
how well command economies are performing compared to market economies.
the extent to which entrepreneurs have freedom to pursue new business opportunities.
how well entrepreneurs are performing in advanced industrialized countries compared to developing economies.
how much profit entrepreneurs are making in command economies compared to market economies.
the economic freedom entrepreneurs have in various countries, using the U.S. as the comparison point.

Accepted Answer

the extent to which entrepreneurs have freedom to pursue new business opportunities.

Question 4

According to Industry Canada, small businesses account for over two thirds of employment in all of the following except
other services.
construction.
accommodation and food.
manufacturing.
non-institutional health care.

Accepted Answer

The answer of According to Industry Canada, small businesses account...

Question 5

In the 2013 Heritage Foundation index of economic freedom, the top three countries were ______; Canada ranked ______. Australia, Japan, and Singapore; 25^th the United States, Germany, and Japan; 8^th the United States, Ireland, and Germany; 11^th Hong Kong, Singapore, and Australia; 6^th China, Japan, and South Vietnam; 37^th

Accepted Answer

The answer of In the 2013 Heritage Foundation index of...

Question 6

Nascent entrepreneurs are
people who have recently sold their business.
people who actually have started a business.
people who are trying to start a business.
people who have been in business over 10 years.
people who are in their first year of business.

Accepted Answer

The answer of Nascent entrepreneurs are
people who have recently sold...

Question 7

Approximately how many new businesses are started each day in Canada?
25
100
250
380
500

Accepted Answer

The answer of Approximately how many new businesses are started...

Question 8

Self-employed Canadians account for ____percent of the workforce.
3
5
16
22
34

Accepted Answer

The answer of Self-employed Canadians account for ____percent of the...

Question 9

During the period from 2001 to 2011, small businesses created ____ percent of all the jobs in Canada.
8
15
28
43
51

Accepted Answer

The answer of During the period from 2001 to 2011,...

Question 10

Individuals who both recognize and seize opportunities are referred to as
speculators.
franchisees.
entrepreneurs.
intrapreneurs.
independents.

Accepted Answer

The answer of Individuals who both recognize and seize opportunities...

Question 11

The Swiffer product line from Procter & Gamble was the result of __________ in a large firm.
product refinement
intrapreneurship
entrepreneurship
starting a business from scratch
marketing research

Accepted Answer

The answer of The Swiffer product line from Procter &...

Question 12

A small business is an owner managed business with less than ________ employees.
25
50
10
500
100

Accepted Answer

The answer of A small business is an owner managed...

Question 13

What percentage of Canada's GDP is contributed by small businesses?
7 percent
13 percent
19 percent
30 percent
41 percent

Accepted Answer

The answer of What percentage of Canada's GDP is contributed...

Question 14

What percentage of businesses in Canada have less than 100 employees?
98
58
88
78
28

Accepted Answer

The answer of What percentage of businesses in Canada have...

Question 15

Which is the most common source of ideas for a new venture?
Brainstorming
Family
Work experiences
Children
Magazines

Accepted Answer

The answer of Which is the most common source of...

Question 16

Which of the following is correct with regard to the issue of where new ideas for a business come from?
The most important source of ideas for a new venture arise as the result of a conscious search for new venture ideas.
About half of all new venture ideas come from insights gained or skills learned at a previous job.
Personal hobbies or interests are the most important source of ideas for a new venture.
Suggestions from family members are an important (but not the most important) factor in coming up with new venture ideas.
There is no particular pattern in the development of ideas for a new venture.

Accepted Answer

The answer of Which of the following is correct with...

Question 17

Which of the following is correct with regard to small business?
Various measures might be used to define a small business, including the number of people the business employs, the company's sales revenue, the size of the investment required, or the type of ownership structure the business has.
Since the Business Register tracks businesses and the Labour Force Survey tracks individuals, these sources of information are not useful in defining the term "small business."
To be included in the Business Register, a business must have at least five paid employees.
In the Business Register, a goods-producing company is considered small if it has fewer than 500 employees, while a service-producing business is considered small if it has fewer than 100 employees.
All of these are correct.

Accepted Answer

The answer of Which of the following is correct with...

Question 18

In the Business Register, a goods-producing business is considered small if it has fewer than ____employees, and a service-producing business is considered small if it has fewer than ___ employees.
1000; 500
500; 1000
100; 50
500; 250
250; 500

Accepted Answer

The answer of In the Business Register, a goods-producing business...

Question 19

A new firm is
one that has been in business for 5 years or less.
one that has not yet opened for business.
one with less than 10 years' experience.
one that has become operational within the previous 12 months.
one that opened its doors within the past 6 months.

Accepted Answer

The answer of A new firm is
one that has been...

Question 20

What are the three key elements in the entrepreneurial process?
The entrepreneur, the opportunity, and the marketing plan
The marketing plan, the production plan, and the finance plan
The product (or service) plan, the entrepreneur, and luck
The entrepreneur, the opportunity, and the resources
The financing plan, the product (or service) plan, and luck

Accepted Answer

The answer of What are the three key elements in...

Quiz 4: Entrepreneurship, Small Business, and New Venture Creation

The part of the economy that is made up of companies and organizations not owned or controlled by the government is called crown corporations. split sector. legislated corporations. public sector. the private sector.

Women account for of all new businesses that are formed, and they lead percent of the small- and medium-sized businesses that export goods and services. one-fifth; 6 one-quarter; 18 one-third; 18 one-half; 12 two-thirds; 24

According to Industry Canada, small businesses account for over two thirds of employment in all of the following except other services. construction. accommodation and food. manufacturing. non-institutional health care.

Nascent entrepreneurs are people who have recently sold their business. people who actually have started a business. people who are trying to start a business. people who have been in business over 10 years. people who are in their first year of business.

Approximately how many new businesses are started each day in Canada? 25 100 250 380 500

Self-employed Canadians account for ____percent of the workforce. 3 5 16 22 34

During the period from 2001 to 2011, small businesses created ____ percent of all the jobs in Canada. 8 15 28 43 51

Individuals who both recognize and seize opportunities are referred to as speculators. franchisees. entrepreneurs. intrapreneurs. independents.

The Swiffer product line from Procter & Gamble was the result of __________ in a large firm. product refinement intrapreneurship entrepreneurship starting a business from scratch marketing research

A small business is an owner managed business with less than ________ employees. 25 50 10 500 100

What percentage of Canada's GDP is contributed by small businesses? 7 percent 13 percent 19 percent 30 percent 41 percent

What percentage of businesses in Canada have less than 100 employees? 98 58 88 78 28

Which is the most common source of ideas for a new venture? Brainstorming Family Work experiences Children Magazines

In the Business Register, a goods-producing business is considered small if it has fewer than __employees, and a service-producing business is considered small if it has fewer than _ employees. 1000; 500 500; 1000 100; 50 500; 250 250; 500

A new firm is one that has been in business for 5 years or less. one that has not yet opened for business. one with less than 10 years' experience. one that has become operational within the previous 12 months. one that opened its doors within the past 6 months.