Edrftgyihu jiuh
Essentials of Entrepreneurship
ST
and Small Business
UV
Management, 10th Edition
TEST BANK
IA
_A
Norman M. Scarborough
PP
────────────────────────────────────────────────────
Comprehensive Test Bank for Instructors
and Students
RO
||| ||| || ||| || | || ||| | || ||| |
9780138340421
VE
© Norman M. Scarborough. All rights reserved.
Reproduction or distribution without permission is
D?
prohibited.
?
© MEDGEEK
, Edrftgyihu jiuh
Essentials of Entrepreneurship and Small Business
Management — Test Bank
Norman M. Scarborough
ISBN: 9780138340421
ST
Chapter 1: The Foundations of Entrepreneurship
UV
Chapter 2: Ethics and Social Responsibility
Chapter 3: Creativity and Innovation
Chapter 4: Feasibility Analysis and Business Models
Chapter 5: Business and Strategic Planning
Chapter 6: Forms of Business Ownership
IA
Chapter 7: Buying an Existing Business
Chapter 8: Franchising
Chapter 9: Bootstrap Marketing
_A
Chapter 10: E-Commerce
Chapter 11: Pricing and Credit Strategies
Chapter 12: Creating a Financial Plan
Chapter 13: Managing Cash Flow
Chapter 14: Location and Layout
PP
Chapter 15: Equity and Debt Financing
Chapter 16: Global Entrepreneurship
Chapter 17: Building a Venture Team and Succession Planning
RO
VE
D?
?
© MEDGEEK
, Essentials of Entrepreneurship and Small Business Management, 10e (Scarborough)
Chapter 1 The Foundations of Entrepreneurship
1) Globally, how does the United States compare with other countries in terms of entrepreneurial
ST
activity?
A) They lag behind other high-income economies at just 10.8 percent of new startups.
B) They have fewer, but more successful startups.
C) They are well above the global average of 12.9 percent.
D) They received more backing and resources from the government.
UV
Answer: C
Diff: 1
Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and
around the world.
AACSB: Reflective Thinking
IA
2) According to the Kauffman Foundation, about how many entrepreneurs in the United States
start businesses of their own because they cannot find jobs elsewhere?
A) 7 percent
B) 19 percent
_A
C) 32 percent
D) 43 percent
Answer: B
Diff: 2
Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and
PP
around the world.
AACSB: Reflective Thinking
3) How has the downsizing trend among large companies impacted business in the United
States?
RO
A) The rate of technological advancement has slowed.
B) Large firms take advantage of their hierarchical structure to exploit new markets.
C) Large firms have better technology that leads to competitive advantage.
D) Small, nimble competitors are better able to exploit niche markets.
Answer: D
VE
Diff: 2
Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and
around the world.
AACSB: Analytical Thinking
D?
?
1
Copyright © 2026 Pearson Education, Inc.
, 4) Today, what matters most in the economic structure influencing the United States?
A) The growth of small businesses
B) Long-term profitability
C) Factors of production
ST
D) Knowledge and information
Answer: D
Diff: 2
Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and
around the world.
UV
AACSB: Analytical Thinking
5) The gig economy makes up 58 percent of the U.S. workforce.
Answer: FALSE
Diff: 1
Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and
IA
around the world.
AACSB: Application of Knowledge
6) One study conducted by the Global Entrepreneurship Monitor (GEM) reports that nearly one
_A
in five people in the United States is working to start a business.
Answer: TRUE
Diff: 2
Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and
around the world.
PP
AACSB: Application of Knowledge
7) According to Gallup's Builder Profile assessment, how do successful entrepreneurs manage
risk?
A) They understand that the nature of entrepreneurship is based on risk.
RO
B) They will take risks only to increase their probability of success.
C) They are willing to take higher risks for higher rewards.
D) They systematically work to eliminate it.
Answer: D
Diff: 2
VE
Learning Obj.: 1.2 Describe the entrepreneurial profile.
AACSB: Application of Knowledge
D?
?
2
Copyright © 2026 Pearson Education, Inc.
Essentials of Entrepreneurship
ST
and Small Business
UV
Management, 10th Edition
TEST BANK
IA
_A
Norman M. Scarborough
PP
────────────────────────────────────────────────────
Comprehensive Test Bank for Instructors
and Students
RO
||| ||| || ||| || | || ||| | || ||| |
9780138340421
VE
© Norman M. Scarborough. All rights reserved.
Reproduction or distribution without permission is
D?
prohibited.
?
© MEDGEEK
, Edrftgyihu jiuh
Essentials of Entrepreneurship and Small Business
Management — Test Bank
Norman M. Scarborough
ISBN: 9780138340421
ST
Chapter 1: The Foundations of Entrepreneurship
UV
Chapter 2: Ethics and Social Responsibility
Chapter 3: Creativity and Innovation
Chapter 4: Feasibility Analysis and Business Models
Chapter 5: Business and Strategic Planning
Chapter 6: Forms of Business Ownership
IA
Chapter 7: Buying an Existing Business
Chapter 8: Franchising
Chapter 9: Bootstrap Marketing
_A
Chapter 10: E-Commerce
Chapter 11: Pricing and Credit Strategies
Chapter 12: Creating a Financial Plan
Chapter 13: Managing Cash Flow
Chapter 14: Location and Layout
PP
Chapter 15: Equity and Debt Financing
Chapter 16: Global Entrepreneurship
Chapter 17: Building a Venture Team and Succession Planning
RO
VE
D?
?
© MEDGEEK
, Essentials of Entrepreneurship and Small Business Management, 10e (Scarborough)
Chapter 1 The Foundations of Entrepreneurship
1) Globally, how does the United States compare with other countries in terms of entrepreneurial
ST
activity?
A) They lag behind other high-income economies at just 10.8 percent of new startups.
B) They have fewer, but more successful startups.
C) They are well above the global average of 12.9 percent.
D) They received more backing and resources from the government.
UV
Answer: C
Diff: 1
Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and
around the world.
AACSB: Reflective Thinking
IA
2) According to the Kauffman Foundation, about how many entrepreneurs in the United States
start businesses of their own because they cannot find jobs elsewhere?
A) 7 percent
B) 19 percent
_A
C) 32 percent
D) 43 percent
Answer: B
Diff: 2
Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and
PP
around the world.
AACSB: Reflective Thinking
3) How has the downsizing trend among large companies impacted business in the United
States?
RO
A) The rate of technological advancement has slowed.
B) Large firms take advantage of their hierarchical structure to exploit new markets.
C) Large firms have better technology that leads to competitive advantage.
D) Small, nimble competitors are better able to exploit niche markets.
Answer: D
VE
Diff: 2
Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and
around the world.
AACSB: Analytical Thinking
D?
?
1
Copyright © 2026 Pearson Education, Inc.
, 4) Today, what matters most in the economic structure influencing the United States?
A) The growth of small businesses
B) Long-term profitability
C) Factors of production
ST
D) Knowledge and information
Answer: D
Diff: 2
Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and
around the world.
UV
AACSB: Analytical Thinking
5) The gig economy makes up 58 percent of the U.S. workforce.
Answer: FALSE
Diff: 1
Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and
IA
around the world.
AACSB: Application of Knowledge
6) One study conducted by the Global Entrepreneurship Monitor (GEM) reports that nearly one
_A
in five people in the United States is working to start a business.
Answer: TRUE
Diff: 2
Learning Obj.: 1.1 Define the role of the entrepreneur in business in the United States and
around the world.
PP
AACSB: Application of Knowledge
7) According to Gallup's Builder Profile assessment, how do successful entrepreneurs manage
risk?
A) They understand that the nature of entrepreneurship is based on risk.
RO
B) They will take risks only to increase their probability of success.
C) They are willing to take higher risks for higher rewards.
D) They systematically work to eliminate it.
Answer: D
Diff: 2
VE
Learning Obj.: 1.2 Describe the entrepreneurial profile.
AACSB: Application of Knowledge
D?
?
2
Copyright © 2026 Pearson Education, Inc.
