Question 1: Some entrepreneurs do not find creative ways to obtain equity financing.

• True
• False

Question 2: The freedom to make all the decisions-being your own boss-is one of the biggest lures of entrepreneurship.

• True
• False

Question 3: Growth in entrepreneurship is not a worldwide phenomenon.

• True
• False

Question 4: Bill Gates and Paul Allen launched ________ with the vision of a computer on every desk and in every home, all running software.

• Apple
• Google
• Yahoo
• Microsoft

Question 5: Dealing with unexpected events is not the norm for most entrepreneurs.

• True
• False

Question 7: ________ has further transformed the business environment for entrepreneurs.

• Project management
• Social networking
• Commercials
• Entrepreneurship

Question 8: An ________ is a risk taker in the private enterprise system, a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business.

• Consumer
• Entrepreneur
• Executive
• Employee

Question 9: Growth in entrepreneurship is not a worldwide phenomenon.

• True
• False

Question 10: Even entrepreneurs who have not previously received funding from banks have experienced a credit crunch in recent years.

• True
• False

Question 11: To secure ________, entrepreneurs exchange a share of ownership in their company for money supplied by one or more investors.

• Equity financing
• Quality financing
• Open financing
• Closed financing

Question 12: ________ are wealthy individuals who invest money directly in new ventures in exchange for equity, are a larger source of investment capital for start-up firms.

• Logical investors
• Angel investors
• Small investors
• Cooperative investors

Question 13: The following can be classified as the different types of entrepreneurs, except:

• Class entrepreneurs
• Serial entrepreneurs
• Social entrepreneurs
• Basic entrepreneurs

Question 14: ________ are employees who direct the efforts of others to achieve an organization's goals.

• Customers
• Managers
• Owners
• Partnerships

Question 15: Demographic trends-including the aging of the U.S. population, the growth of ethnic groups, and the predominance of two-income families-create opportunities for entrepreneurs.

• True
• False

Question 16: A ________ project is initiated by an employee who conceives an idea, convinces top management of its potential, and then recruits human and other resources from within the company to turn the idea into a commercial project.

• Skunkworks
• Cooperative
• Open market
• Innovation

Question 17: ________ seems to be the key to business start-ups, especially in rapidly changing markets.

• Competitiveness
• Flexibility
• Financing
• Capital

Question 18: Entrepreneurs have an internal locus of control, which means they believe that they control their own destinies.

• True
• False

Question 19: Many Boomers also plan to work after retirement from traditional jobs or careers, either because they want to or in order to boost income and savings.

• True
• False

Question 20: Like buying an established business, buying a franchise offers a less risky way to begin a business than starting an entirely new firm.

• True
• False