Introduction to Business

Section 1: Rewards and Challenges of Entrepreneurship

Self-Checks

1
Most successful entrepreneurs have similar ______ .
A)backgrounds
B)characteristics
C)experience
D)goals
2
A new business undertaking involves risk and is called an(n) ______ .
A)enterprise
B)gamble
C)journey
D)venture
3
When entrepreneurs find new ways to solve old problems they demonstrate their ______ .
A)creativity
B)enthusiasm
C)independence
D)inquisitive nature
4
A business can be classified as a "small business" if it has fewer than ______ .
A)10 employees
B)50 employees
C)100 employees
D)500 employees
5
Internet businesses are often called ______ businesses.
A)brick and click
B)home-based
C)start up
D)virtual
6
People become entrepreneurs for ______ reasons besides making money.
A)a few simple
B)all the same
C)a variety of
D)three specific
7
Most business in the United States are owned and operated by ______ .
A)families
B)foreign investors
C)one person
D)partners
8
The most common form of business in the United States is ______ .
A)corporation
B)partnership
C)small business
D)sole proprietorship
9
During the first five years of operation, about ______ of small businesses fail.
A)10 percent
B)40 percent
C)50 percent
D)80 percent
10
______ businesses are the principle source of new jobs in the United States.
A)Global
B)Home-based
C)Small
D)Virtual
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