Question 1
Many entrepreneurs who start new businesses invent new products or processes.
Answer
Question 2
Many Boomers also plan to work after retirement from traditional jobs or careers, either because they want to or in order to boost income and savings.
Answer
Question 3
________ has further transformed the business environment for entrepreneurs.
Answer
Question 4
________ are wealthy individuals who invest money directly in new ventures in exchange for equity, are a larger source of investment capital for start-up firms.
Answer
Question 5
Some entrepreneurs do not find creative ways to obtain equity financing.
Answer
Question 6
A ________ project is initiated by an employee who conceives an idea, convinces top management of its potential, and then recruits human and other resources from within the company to turn the idea into a commercial project.
Answer
Question 7
The following can be classified as the different types of entrepreneurs, except:
Answer
Question 8
________ seems to be the key to business start-ups, especially in rapidly changing markets.
Answer
Question 9
Dealing with unexpected events is not the norm for most entrepreneurs.
Answer
Question 10
When entrepreneurs use ________, they borrow money that they must repay.
Answer
Question 11
The first African American woman billionaire ________ has built an empire stretching from television to magazines to radio.
Answer
Question 12
Entrepreneurs do not generally begin with a vision—an overall idea for how to make their business idea a success.
Answer
Question 13
An ________ is a risk taker in the private enterprise system, a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business.
Answer
Question 14
Like buying an established business, buying a franchise offers a less risky way to begin a business than starting an entirely new firm.
Answer
Question 15
________ is the process of promoting innovation within their organizational structures.
Answer
Question 16
Entrepreneurs have an internal locus of control, which means they believe that they control their own destinies.
Answer
Question 17
Government legislation can also encourage investment in the U.S. economy.
Answer
Question 18
Bill Gates and Paul Allen launched ________ with the vision of a computer on every desk and in every home, all running software.
Answer
Question 19
Demographic trends—including the aging of the U.S. population, the growth of ethnic groups, and the predominance of two-income families—create opportunities for entrepreneurs.
Answer
Question 20
The freedom to make all the decisions—being your own boss—is one of the biggest lures of entrepreneurship.
Answer