According to the opening Vignette, Elon Musk is an example of a Question 1 options: Serial Entrepreneur First-time entrepreneur Franchiser Corporate Business Owner Save Questio

  

According to the opening Vignette, Elon Musk is an example of a
Question 1 options:
Serial Entrepreneur
First-time entrepreneur
Franchiser
Corporate Business Owner
Save
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
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Question 3 (10 points)
The number of people who make small business their primary occupation is which of the following?
Question 3 options:
12 million
25 million
2 million
6 million
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Question 4 (10 points)
Industry classification codes that are based on annual sales revenue or number of employers are abbreviated as
Question 4 options:
NCAA
SIC2
NAICS
NAIA
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Question 5 (10 points)
The industry that employs the greatest number of people in small business is which of the following?
Question 5 options:
Manufacturing
Construction
Retail
Services
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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
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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
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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
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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:
Walmart
Costco
Woolco
Kmart
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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:
Networking
Outsourcing
Innovating
Downsizing
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