ENT 3004 EXAM 1.
QUESTION 1
1. Which ethical model typically advocates seeking the greatest good for the
greatest number of people?
Utilitarianism
Caveat
empto r
The Golden
Rule
Machiavelliani
sm
2 points
QUESTION 2
1. Financing a business online through the collective involvement of others who
provide donations, loans, or investments is referred to as .
crowdfundi
ng
bootstrappi
ng
microfinanc
ing
crowdsourci
ng
2 points
QUESTION 3
1. A situation that occurs when businesses have founders or owners who are passionate
about one or two of the key business functions, such as sales, operations, accounting,
finance, or human resources is known as .
expert business
professionalization
specialized business
professionalization
minimized business
professionalization
maximized business
professionalization
2 points
QUESTION 4
1. According to the U.S. Small Business Administration, small businesses generate
times the number of patents per employee than do big businesses.
, 35.
5
2.5
16.
5
50.
5
2 points
QUESTION 5
1. Which of the following characterizes a habit-based planner?
They take a long-term view, develop long-range plans for all aspects of
the business, are comfortable with planning, and act based on the plans
they've developed.
They plan around the most important aspect of the business first, act on
it, and then consider if additional plans are needed.
They are completely passive and generally wait for cues from the
environment to determine what actions to take.
They don't plan, and they don't tend to react to changes in their
environments.
2 points
QUESTION 6
1. Which of the following is a reward that is rarely mentioned by entrepreneurs?
To have a chance to build great wealth
To have greater flexibility for personal and
family life
To continue a family tradition
To develop an idea for a product
2 points
QUESTION 7
1. The product/service component of the feasibility study typically includes which of
the following aspects?
Stage of
development
Competition
Market
penetration
Cost forecast
2 points
QUESTION 1
1. Which ethical model typically advocates seeking the greatest good for the
greatest number of people?
Utilitarianism
Caveat
empto r
The Golden
Rule
Machiavelliani
sm
2 points
QUESTION 2
1. Financing a business online through the collective involvement of others who
provide donations, loans, or investments is referred to as .
crowdfundi
ng
bootstrappi
ng
microfinanc
ing
crowdsourci
ng
2 points
QUESTION 3
1. A situation that occurs when businesses have founders or owners who are passionate
about one or two of the key business functions, such as sales, operations, accounting,
finance, or human resources is known as .
expert business
professionalization
specialized business
professionalization
minimized business
professionalization
maximized business
professionalization
2 points
QUESTION 4
1. According to the U.S. Small Business Administration, small businesses generate
times the number of patents per employee than do big businesses.
, 35.
5
2.5
16.
5
50.
5
2 points
QUESTION 5
1. Which of the following characterizes a habit-based planner?
They take a long-term view, develop long-range plans for all aspects of
the business, are comfortable with planning, and act based on the plans
they've developed.
They plan around the most important aspect of the business first, act on
it, and then consider if additional plans are needed.
They are completely passive and generally wait for cues from the
environment to determine what actions to take.
They don't plan, and they don't tend to react to changes in their
environments.
2 points
QUESTION 6
1. Which of the following is a reward that is rarely mentioned by entrepreneurs?
To have a chance to build great wealth
To have greater flexibility for personal and
family life
To continue a family tradition
To develop an idea for a product
2 points
QUESTION 7
1. The product/service component of the feasibility study typically includes which of
the following aspects?
Stage of
development
Competition
Market
penetration
Cost forecast
2 points
