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