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Exam 5: Small Business,Entrepreneurship,and Franchises

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Question 21

Multiple Choice

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Privately owned firms providing venture capital would be identified as

A) the Small Business Administration.
B) small-business development centers.
C) small-business investment companies.
D) small-business institutes.
E) the Active Corps of Executives.

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Question 22

Multiple Choice

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An individual's desire to create a new business is referred to as

A) the entrepreneurial spirit.
B) the desire for ownership.
C) self-determination.
D) self-evaluation.
E) the laissez-faire spirit.

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Question 23

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Diane Nguyen is planning to open a boutique stocked with exotic imports from around the world.Most probably,this new business will be managed by

Mc-Queen Chicken ​Lenny decided to open a local franchise of the well-known Mc-Queen Chicken,a fast-food restaurant.Before he took the initiative to open the franchise,he tried to weigh all the advantages and disadvantages.He decided,based on his research and understanding,that it would be beneficial to open a local fast-food restaurant. -Refer to Mc-Queen Chicken.When Lenny opens the Mc-Queen Chicken restaurant in his town,he would be known as the

You stop at a SUBWAY to get a sandwich for lunch and you notice that they now have TCBY yogurt.This is an example of a

Few Americans take advantage of their freedom to start a business.

Service industries make up more than 48 percent of all small businesses.

Marcus wants to operate a business that represents (is one of) 99.9 percent of all employers in the United States.To do this she will operate a

What is the main advantage of small business that helps retain effective employees who could earn more at a larger firm?

What is the Service Corps of Retired Executives (SCORE)? How does it assist small-business owners?

Steven Jobs and David Wozniak,the founders of Apple Computer,Inc.,are creative,free-spirited individuals who decided that being corporate underlings was not what they wanted from a career.They had an innovative idea for a product and desired to create their own business based on this idea.All of the following are factors that could have led them to go into business except

To qualify as a small business,an agricultural company's maximum annual receipts must be no more than

Norma always knew she wanted to start her own business.She was very passionate and wanted to create something new.Norma's primary motivation for starting her own business is

In the past,the SBA could guarantee loans up to $5 million.

Small businesses are typically managed by people who started and own them.

Fatima's cleaning business has several customers but is not dominant in its field.This is an example of a(n) ____ business.

What is a small-business institute? How does it help small-business owners?

Which of the following is the most likely example of a production industry?

The main reasons small businesses fail are poor management skills on the part of owners,inadequate capital,and poor planning.

Talia is about to purchase a Baskin-Robbins franchise because she loves ice cream.How much work should Talia expect to have to do to make the franchise successful?