Navigation » List of Schools » Saddleback College » Business » Business 1 – Introduction to Business » Spring 2020 » Chapter 6 Quiz
Below are the questions for the exam with the choices of answers:
Question #1
A state and local governments.
B the Small Business Administration.
C large multinational banks.
D friends and family.
Question #2
A Managers in small firms tend to be disrespectful to the workers.
B Owners will not often listen to ideas suggested by the workers.
C Employee relations are especially poor in small firms.
D Many jobs in small firms have low pay and few benefits.
Question #3
A market
B consumer collective
C consumer cooperative
D buyer’s cooperative
Question #4
A He will concentrate on creating new ventures that can be spun off to become independent firms.
B He is expected to recruit new managerial talent for his firm.
C He is concerned mainly with improving the firm’s public image.
D He will use the firm’s existing resources to develop new products.
Question #5
A small business affiliate
B intrapreneur
C enterprise zone participant
D micropreneur
Question #6
A an increase in business risk.
B managing the extra time on your hands.
C burdensome tax laws.
D keeping work and family tasks separate.
Question #7
A private firm that offers loans to small businesses in return for a share of ownership in the firm.
B agency set up by state governments to provide managerial advice and support to small businesses.
C private investment company that is licensed by the SBA to make loans to small businesses.
D agency of the federal government that loans money to high-tech firms.
Question #8
A blighted areas that contain toxic materials making them unsuitable for business operations.
B government-owned properties that are available for entrepreneurial ventures at a reduced cost.
C specific locations across the U.S. where entrepreneurs can set up shop and receive tax breaks for operating in these areas.
D similar to incubator facilities but strictly run by city and state governments
Question #9
A expect an ownership stake in the company in exchange for financial backing.
B demand that the money be repaid within 90 days or less.
C charge an interest rate that is much higher than any other lender.
D not be interested in the management of the business.
Question #10
A the plan will meet federal reporting requirements of the Internal Revenue Service.
B the plan will protect DeMarcus from failure.
C the plan ensures financing will be available from the Small Business Administration.
D the plan enables DeMarcus to think carefully about all aspects of his business idea.
Question #11
A create a partnership contract.
B hire a public relations firm to develop promotional materials.
C read a book on entrepreneurship.
D develop a business plan.
Question #12
A they strive to take calculated risks.
B they seldom start another business after a failure.
C they develop mental games to see themselves through the risk game, especially.
D they always protect themselves from failure by taking out lots of insurance.
Question #13
A technological advances such as the Internet and PayPal for safely fulfilling orders.
B political constituents who have made inroads abroad.
C partnerships that small businesses have formed with large businesses.
D large events such as the Olympics that have brought attention to the potential in world markets.
Question #14
A businesses that are easiest to start offer the greatest potential for long-term growth and profits.
B restaurant industry offers the least risk for entrepreneurs.
C reason the service sector is rapidly growing is that these firms are easy to start and keep going, and offer high levels of security and growth potential.
D businesses with the potential for high profit levels tend to be difficult to start and hard to keep going.
Question #15
A borrowing money without planning just how and when to pay it back.
B underestimating how much time it will take to build a market.
C some of the easiest businesses to start have the least growth prospects and greatest failure rates.
D carrying habits of personal extravagance into the business
Question #16
A import/export information
B names of banks the owner plans to visit
C names of employees
D an analysis of the competition
Question #17
A deal with very different management issues due to the very different management challenges experienced by small businesses.
B concern themselves with state-of-the-art information and accounting technology but not employee relations due to their challenge to financially support employee benefits programs.
C do not seek government funding due to the fact that the federal government has made it very clear that it must support large operations before small operations.
D deal with similar management issues that large companies face.
Question #18
A They prefer to be inventive rather than worry about whether the invention solves a customer need.
B They like certainty.
C They have the ability to visualize a clear path.
D They look at problems and see opportunities.
Question #19
A managerial task force
B self-directed functional team
C entrepreneurial team
D joint venture
Question #20
A the product must be laboratory tested and approved by the Food and Drug Administration (FDA).
B people must have unsatisfied wants and needs as well as a willingness and ability to buy.
C one firm must dominate in sales and product development.
D the business requires wholesalers and retailers.