According to the opening Vignette, Elon Musk is an example of a
Question 1 options:
Corporate Business Owner
Question 2 (10 points)
What percentage of net new jobs do small businesses create annually?
Question 2 options:
40 to 50 percent
85 to 100 percent
10 to 25 percent
60 to 80 percent
Question 3 (10 points)
The number of people who make small business their primary occupation is which of the following?
Question 3 options:
Question 4 (10 points)
Industry classification codes that are based on annual sales revenue or number of employers are abbreviated as
Question 4 options:
Question 5 (10 points)
The industry that employs the greatest number of people in small business is which of the following?
Question 5 options:
Question 6 (10 points)
The text defines a business as small if it has any of the following characteristics except which of the following?
Question 6 options:
little impact on the industry
independent operations, finances, and ownership
Major impact on the industry
fewer than 100 employees
Question 7 (10 points)
The term economy of scale refers to which of the following?
Question 7 options:
Increasing costs through the production of smaller quantities
Decreasing costs through the production of larger quantities
Decreasing costs through the production of smaller quantities
Increasing costs through the production of larger quantities
Question 8 (10 points)
The marketing concept was a paradigm shift that involved
Question 8 options:
A focus on production
Focus on marketing
A focus on customers and their needs
A focus on quality
Question 9 (10 points)
What startup business of the 1960s used flatter organizational structure, improved customer service, and more flexibility to knock Sears out of its role of world’s largest retailer?
Question 9 options:
Question 10 (10 points)
To avoid business failure, Terri Holt, a small business owner, has reduced the size of her company’s workforce by ten percent. This action is referred to as
Question 10 options:
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