Mcq Entreprenurship

Topics: Entrepreneurship, Small business, Business Pages: 31 (5336 words) Published: October 12, 2012
Chapter 1The Foundations of Entrepreneurship
Multiple Choice Questions:
1.A recent study by Ernst and Young found that 78% of influential Americans believe that entrepreneurship will be the defining trend of this century. The entrepreneurial opportunity that topped their list was:

a.the Internet
c.downsizing of corporate America
d.None of the above.
a., Medium, Page 2
2.Current competitive conditions favor:
a.large companies with their hierarchies and layers of management.
b.       companies in industries that were once regulated by government but have recently been deregulated.
c.       small companies that can quickly move into and out of niche markets as they emerge and recede.
d.Both A and B are correct.
c., Medium, Page 2
3.Which of the following is NOT a characteristic of the typical entrepreneur?
a.Confidence in his/her ability to succeed
b.Value of money over achievement
c.Desire for immediate feedback
d.A future orientation
b., Easy, Page 4
4.Which of the following is NOT a characteristic of the typical entrepreneur?
a.Desire for responsibility
b.High degree of commitment
c.Low energy levels
d.Confidence in his/her ability to succeed
c., Easy, Page 4
5. Characteristics of entrepreneurs include all of the following EXCEPT:
a.        Tolerance for ambiguity
b.        Flexibility
c.        Skill at organizing
d.        Low degree of commitment
d., Easy, Page 4

6.Entrepreneurs are characterized by:
a.skill at organizing.
b.desire for immediate feedback.
c.high energy levels.
d.All of the above.
d., Easy, Page 4
7.Entrepreneurs who repeatedly start businesses and grow to a sustainable size before striking out again are known as ______ entrepreneurs.
d.None of the above.
c., Easy, Page 4
8.Surveys show that owners of small businesses believe that they ________________ than if they worked for a large company. harder
b.earn more money
c.are happier
d.All of the above.
d., Medium, Page 6
9.In a large organization, an individual may be stifled and limited by a wide variety of factors. But, by 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:

a.the opportunity to reach one's full potential.
b.the opportunity to reap unlimited profits.
c.the chance to learn from others' mistakes.
d.None of the above.
a., Medium, Page 6
10.Which of the following is a benefit of entrepreneurship?
a.The opportunity to gain control over your own destiny
b.The opportunity to reach your full potential
c.The opportunity to do what you enjoy
d.All of the above.
d., Easy, Page 6

11.The only boundaries imposed on an entrepreneur’s success are those imposed by:
a. society.
b. his/her...
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