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MGMT 3000 GUHDE EXAM 2
QUESTIONS AND ANSWER S |
LATEST UPDATE | GRADED A+
Question 1: What are the four components of
entrepreneurship?
CORRECT ANSWER : 1. Process of initiating a
business venture, 2. Organizing the necessary resources,
- Assuming the associated risks, 4. Enjoying the rewards
Question 2: How many employees do most small
businesses have?
CORRECT ANSWER : None
Question 3: What are the five types of small business
owners?
CORRECT ANSWER : 1. Idealists, 2. Optimizers, 3.
Hard workers, 4. Jugglers, 5. Sustainers
Question 4: Who are idealists in the context of small
business owners?
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CORRECT ANSWER : Rewarded by chance to work on
something new and creative
Question 5: Who are optimizers in the context of small
business owners?
CORRECT ANSWER : Get personal satisfaction from
being business owners
Question 6: Who are hard workers in the context of small
business owners?
CORRECT ANSWER : Thrive on the challenge of
building a larger, more profitable business
Question 7: Who are jugglers in the context of small
business owners?
CORRECT ANSWER : High-energy people who enjoy
handling every detail of their own business
Question 8: Who are sustainers in the context of small
business owners?
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CORRECT ANSWER : Enjoy chance to balance work
and personal life
Question 9: As the ______ population of the US has
grown, so has the number of ______-owned businesses.
CORRECT ANSWER: Minority
Question 10: Immigrants were almost ______ as likely as
native-born Americans to start new businesses.
CORRECT ANSWER : Twice
Question 11: What types of businesses are launched by
immigrant entrepreneurs?
CORRECT ANSWER : Increasingly sophisticated;
traditional minority-owned retail stores/restaurants are being complemented by firms in financial services, software, insurance, and online businesses
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Question 12: ______ of US population was comprised of
immigrants, but they make up ______ of all business owners.
CORRECT ANSWER : 13.7%, 21.7%
Question 13: There has been a ______ increase in
women-owned businesses since 2007.
CORRECT ANSWER : 58%
Question 14: Why do more men than women own
businesses?
CORRECT ANSWER : There's a suggestion that women
tend to be more cautious than men about borrowing money, which limits growth opportunities, particularly in high-tech fields
Question 15: Why do sociologists argue that women have
less access to capital?
CORRECT ANSWER : They have to work harder to
convince others that they have what it takes to be successful
