BUS 401 Certification Exam Questions and CORRECT Answers

What is the GEM? - Global Entrepreneurship Monitor (GEM). GEM, which is a joint research effort among several international universities and the Interna- tional Council for Small Business, tracks entrepreneurship in 112 countries, including the United States. - interest to GEM is total early stage entrepreneurial activity (TEA), which consists of businesses that are just being started and businesses that have been in existence for less than three and a half years. - high- est rates of entrepreneurial start-up activities occur in low-income countries, - identifies whether its respondents are starting a new business to take advantage of an attractive opportunity or because of necessity to earn an income. - criticism of entrepreneurship, which is often repeated in the press, is that the majority of new businesses fail.