Chapter 1 - Entrepreneurship Quiz Successfully Launching New Ventures 4e Barringer
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Site Title: Entrepreneurship: Successfully Launching New Ventures, 4/e
Book Title: Entrepreneurship: Successfully Launching New Ventures, 4/e
Book Author: Barringer
Location on Site: Chapter 1 > Chapter Quiz
Date/Time Submitted: March 19, 2016 at 11:34 PM (UTC/GMT)
1.
Summary of Results
95% Correct of 20 Scored items:
19 Correct:
95%
1 Incorrect: 5%
2 questions not scored. 20 scored questions.
More information about scoring
Entrepreneurial behavior typically requires all of the following EXCEPT:
Your Answer: invention of something new.
2.
_____ is the position of a firm on a continuum ranging from highly conservative to highly entrepreneurial.
Your Answer: Entrepreneurial intensity
3.
What is the most common reason given for why people choose to become entrepreneurs?
Your Answer: To be their own boss.
4.
Some entrepreneurs report that the financial rewards associated with entrepreneurship can be bittersweet if they are
accompanied by ________.
Your Answer: losing control of the firm
5.
All of the following are characteristics shared by successful entrepreneurs EXCEPT:
Your Answer: risk averse.
6.
Which of the following is NOT a common myth about entrepreneurs?
Your Answer: Everyone has the potential to be an entrepreneur.
7.
What do you call small firms that yield a level of income for their owner that is similar to what they would earn when
working for an employer?
Your Answer: salarysubstitute firm
8.
_____ of the 27.5 million businesses in the Unites States are owned by women, minorities, seniors, and young people.
Your Answer: A growing number
9.
Influence on innovation and job creation best typifies entrepreneurial firms' ________.
Your Answer: economic impact
10.
The entrepreneurial process is comprised of each of the following steps EXCEPT:
Your Answer: inventing a new product or process.
11.
In the United States, approximately onethird of new firms fail within their first four years.
Your Answer: True
12.
Entrepreneur and inventor mean essentially the same thing.
Your Answer: False
13.
Entrepreneurship only pertains to starting new businesses, not existing firms.
Your Answer: False
14.
The average entrepreneur does NOT make more money than someone with a similar amount of responsibility in a
traditional job.
Your Answer: False
Correct Answer: True
See p. 9 for more information.
15.
The number one characteristic shared by successful entrepreneurs is creativity.
Your Answer: False
16.
Execution intelligence refers to developing a business model, putting together a new venture team, raising money,
establishing partnerships, managing finances and leading and motivating employees.
Your Answer: True
17.
According to research, most entrepreneurs are born, not made.
Your Answer: False
18.
Only individuals that thrive on taking big risks have the right personality to be an entrepreneur.
Your Answer: False
19.
After winning a medal for diving in the Olympics, Cheryl starts a diving instruction school. This is an example of a lifestyle
firm.
Your Answer: True
20.
In recent years, the fastest growing areas for womenowned firms have been in cosmetology, fashion merchandising, and
hair salons.
Your Answer: False
21.
Discus entrepreneurship's importance to the economy and society as a whole:
Your Answer:
(blank)
22.
What are the steps of the entrepreneurial process?
Your Answer:
(blank)