Type:
Test Bank
Resource:
Entrepreneurship Successfully Launching New Ventures
Edition:
6th Edition
Author(s):
Bruce R. Barringer R. Duane Ireland
Test Bank for Entrepreneurship: Successfully Launching New Ventures Ram Subramanian
Entrepreneurship Updated Sixth Edition, Global Edition
Bruce R. Barringer Duane Ireland
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Entrepreneurship: Successfully Launching New Ventures, 6e, GE (Barringer/Ireland) Chapter 1 Introduction to Entrepreneurship 1) Fraser Doherty is the entrepreneur profiled in the opening feature of Chapter 1. His company sells ________. A) fruit spread B) clothing C) jewelry D) books E) t-shirts Answer: A Diff: 1 LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of entrepreneurial firms. AACSB: Reflective Thinking Quest. Category: Critical Thinking 2) Which of the following is an accurate characterization of interest in entrepreneurship? A) There is minimal interest in entrepreneurship across the world. B) There is minimal interest in entrepreneurship in North America and Europe, but significant interest in Asia and Australia. C) There is significant interest in entrepreneurship in North America and Europe, but minimal interest in Asia and Australia. D) While interest in entrepreneurship was once high, it is waning in popularity across the world. E) There is tremendous interest in entrepreneurship across the world. Answer: E Diff: 1 LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of entrepreneurial firms. AACSB: Application of Knowledge Quest. Category: Application 3) According to the Global Entrepreneurship Monitor (GEM) 2019–2020 survey, about ________ percent 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) 6.2 B) 23.3 C) 9.3 D) 11.9 E) 17.4 Answer: E Diff: 3 LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of entrepreneurial firms. AACSB: Application of Knowledge Quest. Category: Application 1 .
4) 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 Answer: A Diff: 2 LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of entrepreneurial firms. AACSB: Reflective Thinking Quest. Category: Critical Thinking 5) Which of the following statements regarding survival rates of entrepreneurial firms in the United States is correct? A) As high as 50 percent after four years B) As high as 60 percent after four years C) As high as 70 percent after four years D) As high as 80 percent after four years E) As high as 90 percent after four years Answer: A Diff: 2 LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of entrepreneurial firms. AACSB: Reflective Thinking Quest. Category: Critical Thinking 6) Cody Rodgers is the founder of a company named Extreme Sports Apparel. The company makes apparel products for extreme sports enthusiasts such as rock climbers, triathletes, skateboarders, and BMX bikers. Cody wants his company to pursue a high level of corporate entrepreneurship. To achieve that goal, Cody's firm should be ________. A) innovative, risk averse, and take a "wait and see" posture B) taking a "wait and see" posture, innovative, and risk taking C) proactive, not innovative, and risk taking D) taking a "wait and see" posture, not innovative, and risk averse E) proactive, innovative, and risk taking Answer: E Diff: 2 LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of entrepreneurial firms. AACSB: Analytical Thinking Quest. Category: Analytical
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