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According to the U.S.Small Business Administration,small businesses generate _____ times the number of patents per employee than do big businesses.


A) 35
B) 2
C) 16
D) 50

E) B) and C)
F) A) and D)

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_____ rewards are those which people get from facing and beating or learning from challenges.


A) Recognition
B) Flexibility
C) Income
D) Growth

E) All of the above
F) A) and C)

Correct Answer

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_____ tend to level off after success defined by sales of between $100,000 and $1,000,000,depending on the industry.


A) Lifestyle firms
B) Traditional small businesses
C) High-performing small businesses
D) High-growth ventures

E) C) and D)
F) A) and C)

Correct Answer

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_____ is a reward universally mentioned by entrepreneurs.


A) Industry recognition
B) Peer admiration
C) Political power
D) Work flexibility

E) B) and D)
F) B) and C)

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Anna helps brides-to-be choose wedding gowns that best suit their requirements and budget,and also helps them with where they can find the right dress.She has made her home her virtual office; she does not require external financing.Anna is using _____ to run her small business.


A) crowdfunding
B) franchising
C) bootstrapping
D) crowdsourcing

E) None of the above
F) A) and B)

Correct Answer

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Small businesses start small but are intended to grow rapidly,often requiring a team of partners.

A) True
B) False

Correct Answer

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If you don't succeed the first time,try,try again is also called the strategy of ___________.


A) perseverance
B) effectuation
C) the corridor principle
D) crowdsourcing

E) B) and C)
F) A) and C)

Correct Answer

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Which of the following is true of a high-growth venture?


A) It considers sales as more important than marketing.
B) Its metastrategy is novelty.
C) It focuses more on efficiency than on effectiveness.
D) It does not allow for easy delegation of work or responsibilities.

E) A) and D)
F) B) and D)

Correct Answer

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Which of the following is true of corporate entrepreneurship?


A) It involves the creation of self-sustaining charitable and civic organizations.
B) It involves revitalizing government agencies.
C) It is a form of entrepreneurship in which people own their own for-profit business.
D) It involves bringing new products or services to a market.

E) None of the above
F) All of the above

Correct Answer

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According to the BRIE model,which of the following is true of a resource?


A) It includes a business name or government registration.
B) It refers to moving goods or services to others for money.
C) It is the most frequently occurring element of the BRIE model.
D) It includes the product or service to be offered.

E) A) and D)
F) A) and C)

Correct Answer

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According to the BRIE model,which of the following sets a firm off from the buying or selling or bartering done casually by nonmerchants?


A) Resources
B) Boundary
C) Intention
D) Exchange

E) A) and D)
F) B) and D)

Correct Answer

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Lifestyle firms,traditional small businesses,and high-performing small businesses are often called _____.


A) main street businesses
B) Wall Street businesses
C) high-growth ventures
D) universal businesses

E) A) and B)
F) A) and C)

Correct Answer

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Which of the following is true of social entrepreneurship?


A) It usually has a lot of funding.
B) It creates organizations which are usually financially dependent on other firms.
C) It cannot be initiated by a for-profit company.
D) It does not include innovation as a key element.

E) A) and B)
F) None of the above

Correct Answer

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D

Which of the following terms is not one of the four steps in the successful entrepreneurial process?


A) Seek.
B) Do.
C) Plan.
D) Check.

E) A) and D)
F) A) and C)

Correct Answer

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High-growth ventures and big businesses generally do not succeed without small businesses offering supporting services.

A) True
B) False

Correct Answer

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Which of the following is a difference between a small business and a high-growth venture?


A) For a small business,the preferred funding source is other people's money,whereas for a high-growth venture,it is the owner's own money.
B) For a small business,the personal control preference is to involve others,whereas a high-growth venture prefers to retain autonomy.
C) A small business focuses on effectiveness,whereas a high-growth venture focuses on efficiency.
D) A small business grows when necessary,whereas a high-growth venture grows when possible.

E) All of the above
F) A) and B)

Correct Answer

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_____ is the degree of attention a target market pays to an idea or organization.


A) Crowdfunding
B) Effectuation
C) Mindshare
D) Crowdsourcing

E) All of the above
F) A) and B)

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C

A nation where industrialization is the major force providing jobs,revenues and taxes,and where minimizing costs while maximizing productivity is a major goal is a(n) :


A) factor-driven economy.
B) efficiency-driven economy.
C) innovation-driven economy.
D) effectiveness-driven economy.

E) A) and B)
F) B) and C)

Correct Answer

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According to the BRIE model,which of the following falls under the boundary category?


A) The financial resources of a company
B) The desire to start a business
C) An e-mail address of the company
D) A product or service offered by the company

E) All of the above
F) C) and D)

Correct Answer

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Truly entrepreneurial businesses are characterized by imitativeness in their products,services,or business models.

A) True
B) False

Correct Answer

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False

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