ENT 2113 Final Exam Questions With
Correct Answers
Entrepreneurial Businesses have the ability to make greater profits in
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markets that have been ignored by larger corporations. - CORRECT
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ANSWER✔✔-True
The business plan for small businesses should be at least 50 pages long.
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- CORRECT ANSWER✔✔-False
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Venture capitalists typically do not invest more than $2 million. -
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CORRECT ANSWER✔✔-False
|
Entrepreneurial businesses fail to provide a means to meet the varied
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demands that individuals face in a society. - CORRECT ANSWER✔✔-
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False
A venture capital start-up is oriented toward the personal goals of the
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founders. - CORRECT ANSWER✔✔-False
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,Years ago, economists mistakenly predicted that small businesses would
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- CORRECT ANSWER✔✔-be replaced by a smaller number of big
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businesses.
Characteristics of an entrepreneurial firm start-up include all except -
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CORRECT ANSWER✔✔-having over 100 employees.
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All of these are harvest plan strategies except - CORRECT ANSWER✔✔-
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franchising.
The U.S. Small Business Administration - CORRECT ANSWER✔✔-aid(s),
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counsel(s), assist(s), and protect(s) the interests of small business
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concerns.
The development and implementation of a new business is part
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________ and part ________. - CORRECT ANSWER✔✔-art; science
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The World Bank estimates that one of the strongest factors in the
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growth of any nation's GNP (gross national product) is ________. -
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CORRECT ANSWER✔✔-the presence of small and medium-sized
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enterprises
Which of the following is true of robber barons in the context of the
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history of entrepreneurial businesses in the United States? - CORRECT
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, ANSWER✔✔-They indulged in great abuses in order to succeed in their | | | | | | | | | | |
business.
Identify a true statement about the history of entrepreneurial
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businesses in the United States. - CORRECT ANSWER✔✔-The 1880s saw
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|the initial development of the nation's large industrial base.
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Small companies have flourished in the United States because they -
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CORRECT ANSWER✔✔-respond more quickly to their customers' needs.
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Which one of the following is a huge advantage for small business
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owners to start a business? - CORRECT ANSWER✔✔-desire to be one's
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own boss |
Identify a defining characteristic of entrepreneurial firms. - CORRECT
| | | | | | | | |
ANSWER✔✔-They tend to be oriented toward the personal goals of the | | | | | | | | | | |
founder.
An entrepreneur needs to set limits to how much time he or she spends
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on a business for it to be successful. - CORRECT ANSWER✔✔-False
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Entrepreneurs driven by circumstantial motivators are often more
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proactive than those with personal motivation for starting a business.
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Group starts - CORRECT ANSWER✔✔-False
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Correct Answers
Entrepreneurial Businesses have the ability to make greater profits in
| | | | | | | | | |
markets that have been ignored by larger corporations. - CORRECT
| | | | | | | | | |
ANSWER✔✔-True
The business plan for small businesses should be at least 50 pages long.
| | | | | | | | | | | |
- CORRECT ANSWER✔✔-False
| | |
Venture capitalists typically do not invest more than $2 million. -
| | | | | | | | | | |
CORRECT ANSWER✔✔-False
|
Entrepreneurial businesses fail to provide a means to meet the varied
| | | | | | | | | | |
demands that individuals face in a society. - CORRECT ANSWER✔✔-
| | | | | | | | |
False
A venture capital start-up is oriented toward the personal goals of the
| | | | | | | | | | | |
founders. - CORRECT ANSWER✔✔-False
| | |
,Years ago, economists mistakenly predicted that small businesses would
| | | | | | | |
- CORRECT ANSWER✔✔-be replaced by a smaller number of big
| | | | | | | | | | |
businesses.
Characteristics of an entrepreneurial firm start-up include all except -
| | | | | | | | | |
CORRECT ANSWER✔✔-having over 100 employees.
| | | |
All of these are harvest plan strategies except - CORRECT ANSWER✔✔-
| | | | | | | | | |
franchising.
The U.S. Small Business Administration - CORRECT ANSWER✔✔-aid(s),
| | | | | | | |
counsel(s), assist(s), and protect(s) the interests of small business
| | | | | | | | |
concerns.
The development and implementation of a new business is part
| | | | | | | | | |
________ and part ________. - CORRECT ANSWER✔✔-art; science
| | | | | | |
The World Bank estimates that one of the strongest factors in the
| | | | | | | | | | | |
growth of any nation's GNP (gross national product) is ________. -
| | | | | | | | | | |
CORRECT ANSWER✔✔-the presence of small and medium-sized
| | | | | | |
enterprises
Which of the following is true of robber barons in the context of the
| | | | | | | | | | | | | |
history of entrepreneurial businesses in the United States? - CORRECT
| | | | | | | | | |
, ANSWER✔✔-They indulged in great abuses in order to succeed in their | | | | | | | | | | |
business.
Identify a true statement about the history of entrepreneurial
| | | | | | | | |
businesses in the United States. - CORRECT ANSWER✔✔-The 1880s saw
| | | | | | | | |
|the initial development of the nation's large industrial base.
| | | | | | | |
Small companies have flourished in the United States because they -
| | | | | | | | | | |
CORRECT ANSWER✔✔-respond more quickly to their customers' needs.
| | | | | | |
Which one of the following is a huge advantage for small business
| | | | | | | | | | | |
owners to start a business? - CORRECT ANSWER✔✔-desire to be one's
| | | | | | | | | | |
own boss |
Identify a defining characteristic of entrepreneurial firms. - CORRECT
| | | | | | | | |
ANSWER✔✔-They tend to be oriented toward the personal goals of the | | | | | | | | | | |
founder.
An entrepreneur needs to set limits to how much time he or she spends
| | | | | | | | | | | | | |
on a business for it to be successful. - CORRECT ANSWER✔✔-False
| | | | | | | | | |
Entrepreneurs driven by circumstantial motivators are often more
| | | | | | | |
proactive than those with personal motivation for starting a business.
| | | | | | | | |
Group starts - CORRECT ANSWER✔✔-False
| | | |
