Entrepreneurship Unit 1 Exam Questions and Correct Answers Latest Update 2024 (Rated A+)
Which of the following is an example of a written business inquiry? - Answers B.An e-mail requesting
vendor pricing and discounts
When writing a letter of inquiry, when should you identify the purpose of your letter? - Answers A.At the
beginning of the letter
What component is important to include in all types of inquiry letters? - Answers A.Contact information
What is one of the main reasons why small businesses are strongly promoted and supported by local
government? - Answers D.They are important to the economy.
Which of the following is most likely to have a negative effect on domestic small-business growth: -
Answers C.Restrictive loan policies
Which of the following statements is true about entrepreneurship and small business growth: - Answers
B.Many people start entrepreneurial ventures during times of economic recession.
Which of the following sources of start-up information would you recommend to an entrepreneur
looking for information about the average start-up and operating costs for a self-serve laundromat: -
Answers C.Coin laundry trade association
A reliable online source of general business start-up information is - Answers C.the Small Business
Administration (www.sba.gov).
Alaina needs advice and assistance in starting her new business venture, so she contacted the Service
Corps of Retired Executives (SCORE). Jack, a SCORE volunteer, agreed to act as Alaina's guide in the
business start-up process. Jack is serving as Alaina's - Answers D.mentor.
Home-based businesses are attractive to many people because the businesses generally - Answers
B.have lower start-up costs.
What is a trend that affects the growth of entrepreneurial ventures? - Answers C.A higher demand for
more convenience products
Governments can encourage entrepreneurial development by - Answers C.deregulating and reducing
taxes.
What is a disadvantage of entrepreneurship? - Answers D.Uncertain income
What behavior is exhibited when an individual recognizes the possibility of an undesirable outcome and
continues to work toward a goal? - Answers C.Risk taking
Which of the following statements is true regarding training for entrepreneurial ventures: - Answers
C.The type of training and education that entrepreneurs need depends on the nature of the start-up
business.
Which of the following is an example of a written business inquiry? - Answers B.An e-mail requesting
vendor pricing and discounts
When writing a letter of inquiry, when should you identify the purpose of your letter? - Answers A.At the
beginning of the letter
What component is important to include in all types of inquiry letters? - Answers A.Contact information
What is one of the main reasons why small businesses are strongly promoted and supported by local
government? - Answers D.They are important to the economy.
Which of the following is most likely to have a negative effect on domestic small-business growth: -
Answers C.Restrictive loan policies
Which of the following statements is true about entrepreneurship and small business growth: - Answers
B.Many people start entrepreneurial ventures during times of economic recession.
Which of the following sources of start-up information would you recommend to an entrepreneur
looking for information about the average start-up and operating costs for a self-serve laundromat: -
Answers C.Coin laundry trade association
A reliable online source of general business start-up information is - Answers C.the Small Business
Administration (www.sba.gov).
Alaina needs advice and assistance in starting her new business venture, so she contacted the Service
Corps of Retired Executives (SCORE). Jack, a SCORE volunteer, agreed to act as Alaina's guide in the
business start-up process. Jack is serving as Alaina's - Answers D.mentor.
Home-based businesses are attractive to many people because the businesses generally - Answers
B.have lower start-up costs.
What is a trend that affects the growth of entrepreneurial ventures? - Answers C.A higher demand for
more convenience products
Governments can encourage entrepreneurial development by - Answers C.deregulating and reducing
taxes.
What is a disadvantage of entrepreneurship? - Answers D.Uncertain income
What behavior is exhibited when an individual recognizes the possibility of an undesirable outcome and
continues to work toward a goal? - Answers C.Risk taking
Which of the following statements is true regarding training for entrepreneurial ventures: - Answers
C.The type of training and education that entrepreneurs need depends on the nature of the start-up
business.
