Which of the following statement is correct regarding entrepreneurial activity and age ranges?

Entrepreneurship: Successfully Launching New Ventures, 5e (Barringer/Ireland)

Chapter 1 Introduction to Entrepreneurship

1) Pure Fix Cycles, the company profiled in the opening feature of Chapter 1, was launched by

four co-founders and sells ________.

A) fixed gear, single speed bikes

B) entry level bikes that sell in the $100 price range

C) bikes the are durable enough that they almost never need to be fixed

D) high quality bikes that sell in the $1,000+ price range

E) multiple gear, multiple speed bikes

Answer: A

Diff: 1 Page Ref: 3

LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of

entrepreneurial firms.

AACSB: Reflective Thinking

2) Which of the following is an accurate characterization of interest in entrepreneurship?

A) There is minimal interest in entrepreneurship across the world.

B) There is minimal interest in entrepreneurship in North America and Europe, but significant

interest in Asia and Australia.

C) There is significant interest in entrepreneurship in North America and Europe, but minimal

interest in Asia and Australia.

D) While interest in entrepreneurship was once high, it is waning in popularity across the world.

E) There is tremendous interest in entrepreneurship across the world.

Answer: E

Diff: 1 Page Ref: 3

LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of

entrepreneurial firms.

AACSB: Application of Knowledge

3) According to the Global Entrepreneurship Monitor (GEM) 2013 survey, about ________

percent of adults in the United States are either starting a business or are running a business that

has been in existence for less than 3 1/2 years.

A) 3.8

B) 5.5

C) 7.6

D) 9.0

E) 12.7

Answer: E

Diff: 3 Page Ref: 5

LO: 1.1: Describe entrepreneurship, corporate entrepreneurship, and the characteristics of

entrepreneurial firms.

AACSB: Application of Knowledge

1

Copyright © 2016 Pearson Education, Inc.

Related Questions

• Q24:

  According to the textbook, the passion that motivates people to launch entrepreneurial firms typically stems from the entrepreneur's belief that the business will ________. A) positively influence people's lives B) make a lot of money C) increase his or her prestige D) lead to a high-level job in the corporate sector E) provide for a secure retirement

• Q25:

  According to Chapter 1, investors often cite the ________ as their most important criterion in the decision to fund new ventures. A) financial position of the new venture B) strength of the industry the new firm is entering C) strength of the new venture's marketing plan D) strength of the business idea E) strength of the entrepreneur

• Q26:

  Which of the following was not identified in the textbook as one of the common traits and characteristics of entrepreneurs? A) Lengthy attention span B) Self-starter C) Tolerant of ambiguity D) Tenacious E) Pessimistic disposition

• Q27:

  According to the textbook, entrepreneurs are ________. A) gamblers B) moderate risk takers C) aggressive risk takers D) forceful risk takers E) minimal risk takers

• Q28:

  The number one characteristic shared by successful entrepreneurs is ________. A) a desire to achieve financial rewards B) a passion for the business C) a desire to employ other people D) a desire to fulfill a lifetime dream E) a desire to bring a revolutionary new product or service to market

• Q30:

  Which of the following was not identified in the textbook as one of the five primary reasons passion is important for the launch of a successful entrepreneurial organization? A) The ability to stick to a plan even when faced with evidence that changes are needed B) A willingness to work hard for an extended period of time C) The ability to overcome setbacks and "no's" D) The ability to listen to feedback on the limitations of your organization and yourself E) The ability to learn and iterate.

• Q31:

  Alex and Patty Webb launched a firm several years ago and have been particularly successful in introducing new products to the marketplace. One thing that Alex and Patty are particularly good at is translating their thoughts, creativity, and imaginations into products that reach the marketplace. The ability to make this happen is most closely related to which of the following characteristics of successful entrepreneurs? A) A passion for the business B) Execution intelligence C) Tenacity despite failure D) Product/market focus E) A desire for recognition

• Q32:

  Stacey Wills, who is at heart a craftsperson, recently started a firm to manufacturer a new innovative food blender. Stacey's desire is to sell her food blender to as many people as possible because she firmly believes in the merits of her product. Stacey's story best illustrates which of the following characteristics, or attributes, of a successful entrepreneur? A) Product/customer focus B) Execution intelligence C) Tenacity despite failure D) A desire to please consumers E) A desire to gain financial rewards

• Q33:

  Which of the following statements is incorrect regarding entrepreneurial activity and age range? A) The highest percent of business owners fall in the 30-39 age range. B) The lowest percent of business owners fall in the 60+ age rage. C) The majority of business founders have no prior work experience. D) The majority of individuals who start companies are in their thirties and forties. E) Entrepreneurial activity is fairly evenly spread out over age ranges.

• Q34:

  The passion that entrepreneurs have typically stems from the ability to pursue their own ideas.

Which of the following is not one of the common traits and characteristics of entrepreneurs?

Which age range accounts for most start up activity?

Which of the following statements about being an entrepreneur is incorrect?

Which of the following is the correct sequence for the four steps in the entrepreneurial process quizlet?