United States.
80.
Award: 1.00 point
81.
Award: 1.00 point
If you don't succeed the first time, try, try again is also called the strategy of
perseverance.
effectuation.
the corridor principle.
crowdsourcing.
If you don't succeed the first time, try, try again is called the strategy of perseverance.
References
Multiple Choice Learning Objective:
01-06 Recognize the
seven key strategies
of the
entrepreneurial way.
Virtual instant global entrepreneurship refers to
the transformation of a high-growth venture into a small business.
a person becoming an owner by inheriting or getting a stake in a family business.
the way that newly created goods, services, or firms hurt existing goods, services, or firms.
a process that uses the Internet to quickly create businesses with a worldwide reach.
Virtual instant global entrepreneurship is a process that uses the Internet to quickly create
businesses with a worldwide reach.
References
Multiple Choice Learning Objective:
01-05 Recognize
how small
businesses are
important to our
economy and your
community.
82.
Award: 1.00 point
Which of the following statements concerning the importance of small businesses to our economy is
not true?
Small businesses are more willing than large businesses to employ people with atypical
work histories.
Small businesses produce more patents per employee than do big businesses.
Small businesses could not exist without big businesses to imitate.
Small businesses account for 33 percent of all goods and services exported from the
United States.
Without small businesses offering supporting services to big businesses, the larger companies
would lose profitability.
References
Multiple Choice Learning Objective:
01-05 Recognize
how small
businesses are
important to our
economy and your
community.
83.
Award: 1.00 point
The form of entrepreneurship in which a person or group own their own for-profit business is
referred to as
independent entrepreneurship.
social entrepreneurship.
public entrepreneurship.
corporate entrepreneurship.
The form of entrepreneurship in which a person or group own their own for-profit business is
referred to as independent entrepreneurship.
References
Multiple Choice Learning Objective:
01-01 Understand
the scope of small
business in the
United States.
84.
Award: 1.00 point
Kim found a niche lifestyle business by purchasing used knitting and crochet books from local thrift
shops and reselling them on eBay. While American knitters tended to work from online patterns,
knitters in other countries still relied on patterns from books. eBay handles all the headaches of
shipping outside the U.S., making it easy for Kim to sell her books for a tidy profit. This scenario
exhibits which facet of how small businesses are important to our economy?
new ideas
new opportunities
new markets
new jobs
Using eBay to establish her knitting books to a global presence is an example of new markets.
References
Multiple Choice Learning Objective:
01-05 Recognize
how small
businesses are
important to our
economy and your
community.
85.
Award: 1.00 point
Kendra is saving her money because she dreams of opening a doggy day-care and spa. For now,
she has a brisk dog-walking service and provides a few dog-grooming tasks, such as brushing and
toenail clips. Kendra is following which of the seven key strategies of the entrepreneurial way?
bird in the hand
scale back
perseverance
take it on the road
Though Kendra wants to eventually open a doggy day-care and spa, she does not yet have the
resources so she has scaled back to the level she can currently handle—dog walking with limited
grooming services.
References
Multiple Choice Learning Objective:
01-06 Recognize the
seven key strategies
of the
entrepreneurial way.
86.
Award: 1.00 point
87.
Award: 1.00 point
Finn made great surfboards, but he lived in landlocked Indiana. Finn sold the boards through his
website and had perfected the art of shipping a surfboard. Finn is using which of the seven key
strategies of the entrepreneurial way?
bird in the hand
take it on the road