BA109 - Chapter 01 Practice Exam with Complete Solutions(SCORED A+)

Within five years, _____ percent of businesses will fail. - ANSWER-51 An entrepreneur is one who: --is willing to attempt to implement a business concept and then give up if it does not meet immediate expectations. -- understands the process of developing an idea and does not need to understand what it means to bring that idea to a viable business concept. --knows that the concept they are about to develop will result in a profitable business. --creates a new business concept for the purpose of achieving profit and growth by assembling the necessary resources to capitalize on identified opportunities. - ANSWER-creates a new business concept for the purpose of achieving profit and growth by assembling the necessary resources to capitalize on identified opportunities. One of the most significant economic developments in recent business history relates to the: --growth of blue-chip corporations. --development of Pacific Rim countries. --entrepreneurial spirit. --additional employment opportunities offered by government institutions. - ANSWER-entrepreneurial spirit.