ENT 2113 OU Study Guide Final Exam Questions And Answers
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Course
GNMP EENT
Institution
GNMP EENT
Entrepreneurial businesses fail to provide a means to meet the varied demands that individuals face in a society. - ANS False
Entrepreneurial businesses have the ability to make greater profits in markets that have been ignored by larger corporations. - ANS True
The Great Depr...
ENT 2113 OU Study Guide Final Exam
Questions And Answers
Entrepreneurial businesses fail to provide a means to meet the varied demands that individuals
face in a society. - ANS False
Entrepreneurial businesses have the ability to make greater profits in markets that have been
ignored by larger corporations. - ANS True
The Great Depression of the 1930s made it difficult for entrepreneurial businesses to survive in
the United States. - ANS True
A customer of a small business could be considered an important stakeholder to the success of
a company. - ANS True
When using a harvest plan, small companies are organized to grow rapidly, and they have no
debt. - ANS False
What percentage of U.S. millionaires are self-employed? - ANS 66.7%
The term ________ refers to the fact that women, like minorities, may be hired by large firms but
experience limits placed on their advancement. - ANS Glass Ceiling
Microloans have been in existence for years; they are most commonly made directly to
________ for self-development. - ANS Women
________ lead(s) to a condition where a single firm making 100 percent of the product is the
most efficient. - ANS Economies of Scale
What are the critical elements that an entrepreneur must solve for success? - ANS - an
effective sales generation model
- sustainable operating profit margins
- being properly financed
The World Bank estimates that one of the strongest factors in the growth of any nation's GNP
(gross national product) is ________. - ANS the presence of small and medium-sized
enterprises
, In the context of entrepreneurship around the world, identify a true statement about microloans.
- ANS The success of such loans has been substantial, with great strides being made in
many desperately poor nations.
Small companies have flourished in the United States because they - ANS respond more
quickly to their customers' needs.
Which of the following is a characteristic of a venture capital start-up? - ANS An
experienced president is hired to grow the start-up.
Which one of the following is a huge advantage for small business owners to start a business? -
ANS desire to be one's own boss
The U.S. Census tracks employment by number of employees (among many other statistics),
and the latest census reports indicate that ________. - ANS firms with fewer than 99
employees represent 76 percent of all firms in the United States
Organizational slack allows large organizations flexibility that is not available to smaller
companies. - ANS True
The excess resources that large companies tend to have to assist them are referred to as
organizational redundancies. - ANS False
The Myers-Briggs test is used for personality evaluations. - ANS True
The owner must be aware of his or her own tolerance of risk and establish a business that is
consistent with that tolerance. - ANS True
The Big Five test is composed of five factors in decision-making criteria. - ANS False
________ is a rational decision-making process that is constrained by our experiences, history,
and culture. - ANS Bounded rationality
Which personality test indicates the different ways individuals deal with other people and their
environments? - ANS Myers-Briggs
Which of the following personality tests is popular in universities and is composed of factors that
are considered by many researchers to be the key components or types of an individual's
personality? - ANS Big Five
Which of the following personality tests was developed by two independent research teams who
analyzed data collected from thousands of people? - ANS The Big Five test
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