Introduction to Entrepreneurship
Chapter 1 Introduction to Entrepreneurship
1) GiftZip, the company profiled in the opening feature for Chapter 1, makes money via:
A) payments from companies that offer gift cards for displaying their cards on the site
B) the direct sale of gift cards displayed on its site C) monthly subscription fees
D) online advertising
E) earning an affiliate fee for gift card purchases that originate from its site
2) Which of the following was not a contributing factor to GiftZip 's early success?
A) It was becoming increasingly affordable to launch an online business.
B) positive PR C) angel investor funding
D) People were becoming increasingly comfortable buying online.
E) The gift card market was growing.
3) According to the Global Entrepreneurship Monitor (GEM) 2010 survey, about ________ of adults in the United States are either starting a business or are running a business that has been in existence for less than 3 1/2 years.
A) 3.8 percent B) 5.5 percent C) 7.6 percent D) 9.0 percent
E) 12.5 percent
4) According to the Global Entrepreneurship Monitor (GEM) 2007 study, the majority of people in high-income countries are drawn to entrepreneurship:
A) to take advantage of an attractive opportunity B) due to lack of career prospects
C) as a result of government incentives D) because an important role model was an entrepreneur
E) to gain prestige
5) Which of the following statements regarding business success (or failure) rates is correct?
A) After four years, 15 percent of new businesses are still open.
B) After four years, 25 percent of new businesses are still open.
C) After four years, 50 percent of new businesses are still open.
D) Two out of three businesses fail within the first four years.
E) Nine out of ten businesses fail within the first four years.
6) Apple Inc. is a firm that is proactive, innovative and risk-taking. From this description, we can most accurately conclude that Apple has a high level of:
A) enterprise
1) GiftZip, the company profiled in the opening feature for Chapter 1, makes money via:
A) payments from companies that offer gift cards for displaying their cards on the site
B) the direct sale of gift cards displayed on its site C) monthly subscription fees
D) online advertising
E) earning an affiliate fee for gift card purchases that originate from its site
2) Which of the following was not a contributing factor to GiftZip 's early success?
A) It was becoming increasingly affordable to launch an online business.
B) positive PR C) angel investor funding
D) People were becoming increasingly comfortable buying online.
E) The gift card market was growing.
3) According to the Global Entrepreneurship Monitor (GEM) 2010 survey, about ________ of adults in the United States are either starting a business or are running a business that has been in existence for less than 3 1/2 years.
A) 3.8 percent B) 5.5 percent C) 7.6 percent D) 9.0 percent
E) 12.5 percent
4) According to the Global Entrepreneurship Monitor (GEM) 2007 study, the majority of people in high-income countries are drawn to entrepreneurship:
A) to take advantage of an attractive opportunity B) due to lack of career prospects
C) as a result of government incentives D) because an important role model was an entrepreneur
E) to gain prestige
5) Which of the following statements regarding business success (or failure) rates is correct?
A) After four years, 15 percent of new businesses are still open.
B) After four years, 25 percent of new businesses are still open.
C) After four years, 50 percent of new businesses are still open.
D) Two out of three businesses fail within the first four years.
E) Nine out of ten businesses fail within the first four years.
6) Apple Inc. is a firm that is proactive, innovative and risk-taking. From this description, we can most accurately conclude that Apple has a high level of:
A) enterprise