1.Which statement BEST describes why a successful entrepreneur
needs to be flexible?
a. Starting a new business often leads to envy in the wider
business community.
b. People with whom entrepreneurs work are often opinionated
and rigid.
c. Entrepreneurial ventures involve risky situations and
unexpected events.
d. Initial business revenues tend to be low and may remain
low for several years.
2. If you are planning to start a new business, how long should
you realistically expect it to take for your business to earn a
profit?
a. six to twelve months
b. one to two years
c. three to five years
d. more than five years
3. Globalization is recognized by all as a force for good in the
U.S. economy.
a. false
b. true
4. Almost all businesses are organized the same way, in a
vertical, hierarchical structure.
a. false
b. true
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