Business and Page Ref
Essentials of Entrepreneurship & Small Business Management, 6e (Scarborough)
Chapter 1 The Foundations of Entrepreneurship
1) One of the most significant economic developments in recent business history relates to the:
A) growth of blue-chip corporations.
B) development of Pacific Rim countries.
C) entrepreneurial spirit.
D) additional employment opportunities offered by government institutions.
Answer: C
Diff: 1 Page Ref: 1
AACSB: Reflective Thinking
2) All of the following are characteristics of the typical entrepreneur except:
A) confidence in his/her ability to succeed.
B) value of money over achievement.
C) desire for immediate feedback.
D) a future orientation.
Answer: B
Diff: 1 Page Ref: 3-6
AACSB: Reflective Thinking
3) Entrepreneurs are characterized by:
A) skill at organizing.
B) desire for immediate feedback.
C) high energy levels.
D) All of the above
Answer: D
Diff: 1 Page Ref: 3-5
AACSB: Reflective Thinking
4) An entrepreneur is one who:
A) is willing to attempt to implement a business concept and then give up if it does not meet immediate expectations.
B) understands the process of developing an idea and does not need to understand what it means to bring that idea to a viable business concept.
C) knows that the concept they are about to develop will result in a profitable business.
D) creates a new business concept for the purpose of achieving profit and growth by assembling the necessary resources to capitalize on identified opportunities.
Answer: D
Diff: 1 Page Ref: 5
AACSB: Analytic Skills
5) Entrepreneurs who repeatedly start businesses and grow to a sustainable size before striking out again are known as ________ entrepreneurs.
A) opportunistic
B) persistent
C) serial
D) classic
Answer: C
Diff: 1 Page Ref: 5
AACSB: Reflective Thinking
6) Entrepreneurs typically possess:
A) the ability to easily access capital.
B) a set of unique skills that is usually accompanied by advanced
Chapter 1 The Foundations of Entrepreneurship
1) One of the most significant economic developments in recent business history relates to the:
A) growth of blue-chip corporations.
B) development of Pacific Rim countries.
C) entrepreneurial spirit.
D) additional employment opportunities offered by government institutions.
Answer: C
Diff: 1 Page Ref: 1
AACSB: Reflective Thinking
2) All of the following are characteristics of the typical entrepreneur except:
A) confidence in his/her ability to succeed.
B) value of money over achievement.
C) desire for immediate feedback.
D) a future orientation.
Answer: B
Diff: 1 Page Ref: 3-6
AACSB: Reflective Thinking
3) Entrepreneurs are characterized by:
A) skill at organizing.
B) desire for immediate feedback.
C) high energy levels.
D) All of the above
Answer: D
Diff: 1 Page Ref: 3-5
AACSB: Reflective Thinking
4) An entrepreneur is one who:
A) is willing to attempt to implement a business concept and then give up if it does not meet immediate expectations.
B) understands the process of developing an idea and does not need to understand what it means to bring that idea to a viable business concept.
C) knows that the concept they are about to develop will result in a profitable business.
D) creates a new business concept for the purpose of achieving profit and growth by assembling the necessary resources to capitalize on identified opportunities.
Answer: D
Diff: 1 Page Ref: 5
AACSB: Analytic Skills
5) Entrepreneurs who repeatedly start businesses and grow to a sustainable size before striking out again are known as ________ entrepreneurs.
A) opportunistic
B) persistent
C) serial
D) classic
Answer: C
Diff: 1 Page Ref: 5
AACSB: Reflective Thinking
6) Entrepreneurs typically possess:
A) the ability to easily access capital.
B) a set of unique skills that is usually accompanied by advanced