CHAPTER 6 ENTREPRENEURSHIP AND STARTING A SMALL BUSINESS TRUE/FALSE
Learning Goal 1
Explain why people are willing to take the risks of entrepreneurship, list the attributes of successful entrepreneurs, describe the benefits of entrepreneurial teams and intrapreneurs, and explain the growth of home-based and Web-based businesses.
Level of Learning 1 (Knows basic terms and facts)
i.
Entrepreneurship involves accepting the risk of starting and running a business. Answer: True
ii.
Page: 150
Entrepreneurship is another name for management. Answer: False
iii.
LG: 1/LL: 1
Page: 150
Entrepreneurs are less important now than in the past to the U.S. economy. Answer: False
iv.
LG: 1/LL: 1
Page: 150
People who are 16 to 34 years old are not attracted to starting their own business. Answer: False
v.
LG: 1/LL: 1
Page: 150
While entrepreneurs frequently earn significant profits for themselves, their impact on society is quite small. Answer: False
vi.
LG: 1/LL: 1
Page: 150
Many business started by entrepreneurs have grown into major corporations employing thousands of workers. Answer: True
vii.
LG: 1/LL: 1
Page: 150
Entrepreneurs are motivated by the desire to earn a profit. Answer: True
viii.
LG: 1/LL: 1
LG: 1/LL: 1
Page: 151
Entrepreneurs, like gamblers, enjoy taking risks. Answer: False
LG: 1/LL: 1
Page: 151
Nickels, McHugh & McHugh, Understanding Business, Eighth Edition
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