Exam 1 Mgt 463 Questions and
Complete Solutions Graded A+
Entrepreneurs who repeatedly start businesses and grow to a sustainable size before striking out again
are known as _______ entrepreneurs. - Answer: serial
The profile of an entrepreneur includes: - Answer: All answers are correct
Entrepreneurs who start a business because they cannot find work any other way are: - Answer:
Necessity Entrepreneurs
All of the following are characteristics of the typical entrepreneur except: - Answer: value of money over
achievement
Which of the following is a benefit of entrepreneurship? - Answer: All answers are correct
In a large organization, an individual may be stifled and limited by a wide variety of factors. However,
owning one's own business, the only limits are one's own creativity, talent, and determination. In this
sense, small business ownership offers the advantage of the - Answer: opportunity to reach one's full
potential.
Which of the following is a characteristic of copreneurs - Answer: all answers are correct
"Copreneurs" are defined as: - Answer: entrepreneurial couples that work as co-owners of their
business.
Entrepreneurs that use their skills to create a profitable business that is designed to achieve social and
environmental goals for the common good are known as : - Answer: social entrepreneurs
One of the most significant economic developments in recent business history relates to the - Answer:
entrepreneurial spirit
, Factors that feed the economic boom behind entrepreneurship include: - Answer: all answers are
correct
Which of the following is/are true regarding business plans? - Answer: All answers are correct
Entrepreneurs may find benefit from the internet due to its potential - Answer: as a relatively low-cost
solution to expand its revenue-generating abilities
Social entrepreneurs use their skills to create profitable businesses and also achieve economic, social
and environmental goals for the common good - Answer: True
To boost sales, small businesses, especially start-ups, should grant credit to anyone who wants to buy
their products or services. - Answer: False
Most entrepreneurs believe that _____ is what matters most, but ____ is the most important financial
resource for a small business owner. - Answer: profit; cash
Serial entrepreneurs repeatedly start businesses and grow them to a a sustainable size before striking
out again. - Answer: True
Most startup companies can expect to need ____ capital than they anticipate. - Answer: more
Entrepreneurs choose to enter their particular business fields because they have an interest in them and
enjoy those lines of work. They have often made their hobbies their business. - Answer: True
The primary cause of small business failures is - Answer: the lack of capital
Which of the following questions should you consider before entering a lawsuit to protect intellectual
property? - Answer: all answers are correct
About 51 percent of new businesses fail within five years - Answer: True
Complete Solutions Graded A+
Entrepreneurs who repeatedly start businesses and grow to a sustainable size before striking out again
are known as _______ entrepreneurs. - Answer: serial
The profile of an entrepreneur includes: - Answer: All answers are correct
Entrepreneurs who start a business because they cannot find work any other way are: - Answer:
Necessity Entrepreneurs
All of the following are characteristics of the typical entrepreneur except: - Answer: value of money over
achievement
Which of the following is a benefit of entrepreneurship? - Answer: All answers are correct
In a large organization, an individual may be stifled and limited by a wide variety of factors. However,
owning one's own business, the only limits are one's own creativity, talent, and determination. In this
sense, small business ownership offers the advantage of the - Answer: opportunity to reach one's full
potential.
Which of the following is a characteristic of copreneurs - Answer: all answers are correct
"Copreneurs" are defined as: - Answer: entrepreneurial couples that work as co-owners of their
business.
Entrepreneurs that use their skills to create a profitable business that is designed to achieve social and
environmental goals for the common good are known as : - Answer: social entrepreneurs
One of the most significant economic developments in recent business history relates to the - Answer:
entrepreneurial spirit
, Factors that feed the economic boom behind entrepreneurship include: - Answer: all answers are
correct
Which of the following is/are true regarding business plans? - Answer: All answers are correct
Entrepreneurs may find benefit from the internet due to its potential - Answer: as a relatively low-cost
solution to expand its revenue-generating abilities
Social entrepreneurs use their skills to create profitable businesses and also achieve economic, social
and environmental goals for the common good - Answer: True
To boost sales, small businesses, especially start-ups, should grant credit to anyone who wants to buy
their products or services. - Answer: False
Most entrepreneurs believe that _____ is what matters most, but ____ is the most important financial
resource for a small business owner. - Answer: profit; cash
Serial entrepreneurs repeatedly start businesses and grow them to a a sustainable size before striking
out again. - Answer: True
Most startup companies can expect to need ____ capital than they anticipate. - Answer: more
Entrepreneurs choose to enter their particular business fields because they have an interest in them and
enjoy those lines of work. They have often made their hobbies their business. - Answer: True
The primary cause of small business failures is - Answer: the lack of capital
Which of the following questions should you consider before entering a lawsuit to protect intellectual
property? - Answer: all answers are correct
About 51 percent of new businesses fail within five years - Answer: True
