Test Bank For Essentials of Entrepreneurship and Small Business Management, Global Edition, 10th Edition by Norman M Scarborough Jeffrey R. Cornwall Chapter 1-17 Chapter 1
The Foundations of Entrepreneurship
1) Globally, how does the United States compare with other countries in terms of entrepreneurial activity? A) They lag behind other high-income economies at just 10.8 percent of new startups. B) They have fewer, but more successful startups. C) They are well above the global average of 12.9 percent. D) They received more backing and resources from the government. Answer: C Diff: 1 Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and around the world. AACSB: Reflective Thinking 2) According to the Kauffman Foundation, about how many entrepreneurs in the United States start businesses of their own because they cannot find jobs elsewhere? A) 7 percent B) 19 percent C) 32 percent D) 43 percent Answer: B Diff: 2 Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and around the world. AACSB: Reflective Thinking 3) How has the downsizing trend among large companies impacted business in the United States? A) The rate of technological advancement has slowed. B) Large firms take advantage of their hierarchical structure to exploit new markets. C) Large firms have better technology that leads to competitive advantage. D) Small, nimble competitors are better able to exploit niche markets. Answer: D Diff: 2 Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and around the world. AACSB: Analytical Thinking
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