Brigham Young University–Idaho



Study Guide

B101 Exam 2

Chapters 5-7

True/False

_____1. Many Colleges and universities have begun programs in entrepreneurship.

_____2. Financial forecasts are almost impossible to determine for new businesses, and therefore omitted from the initial business plan.

____3. Almost 20 percent of all U.S. retail sales occur online.

____4. Legitimate companies may ask customers for personal information via email on occasion.

____5. Less than one in four small businesses are owned by a woman.

____6. Compared with other countries, the United States has a relatively low level of entrepreneurship activity.

____7. Taxes and government regulations are more significant issues for large businesses than for small businesses.

____8. A small business owner who sells the goods or services of the supplier is known as the franchisor.

____9. Any firm with fewer than 1,000 employees is considered a small business.

____10. Owning a business, by definition, means that you are an entrepreneur.

____11. The vast majority of firms have fewer than 100 employees.

____12. Hispanics are the nation’s largest group of minority business owners.

____13. Often entrepreneurs are not afraid of failure because there is little chance that they will fail.

____14. The aging of the U.S. population has made it more difficult for entrepreneurs to find opportunities.

____15. The majority of Web pages are written in English.

Multiple choice

16. What does a franchisee purchase from the franchisor?

17. Give two examples of classic entrepreneurs.

18. What are some reasons for starting your own business?

19. What percent of U.S. firms employ 100 or fewer workers?

20. Who are the largest group of minority business owners in the United States?

21. What are some qualities that entrepreneurs posses?

22. What do spam filters do?

23. Who are two principals in a franchising agreement?

24. What is a credit union?

25. Define classic entrepreneurs.

26. What are some challenges facing e-commerce?

27. How many newly launched businesses fail within two years after commencing operation?

28. Small businesses are owned by what percent of women?

29. What is least important when reviewing the contents of a Web site?

30. What does a pacing program consist of?

31. Define vision

32. Who puts together the advertising plan for a franchise?

33. Define public ownership

34. Where do small businesses tend to be concentrated?

35. What is the first thing you should do when starting your own business?

36. What is the largest franchise in the United States?

37. What advantages does franchising offer?

38. Define outside directors.

39. Define a sole proprietorship

40. Who elects the board of directors for a corporation?

41. Who much do retailers generate to be considered a small business?

42. Define an entrepreneur and give an example

43. Who is a skunkworks program initiated by?

44. What is an industry that small business owners are most likely to own?

45. Define Intrapreneurs

46. Define firewall

47. What domain ending would a Japanese company’s Web site have?

48. Give an example of e-business

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