Question 1

A High-Expectation Nascent Entrepreneur is an individual who expects to employ at least 50 employees within four years' time, through his or her new firm.

Accepted Answer

A) True 
 B)False

Question 2

How much do informal investors contribute to startup businesses annually?

Accepted Answer

A)  $12 billion
B)  $50 billion
C)  $67 billion
D)  $86 billion
E)  $100 billionF) All of the above
G) B) and C) E

Question 3

Which of the trends below converged to spark the Internet revolution of the 1990's?

Accepted Answer

A)  Personal Computers, Cell Phones, and Laser Printing
B)  Digital Technology, Information Technology, and Entrepreneurship
C)  Personal Computers, Modems, and Floppy Disks
D)  Entrepreneurship, Venture Capital, and Computer Software
E)  Venture Capital, Biotechnology, and TelecommunicationsF) C) and D)
G) All of the above

Question 4

Churning is a main component of a healthy economy.

Accepted Answer

A) True 
 B)False

Question 5

Venture Capital is a source of growth funding exclusively for technology companies with the potential for rapid, scalable growth.

Accepted Answer

A) True 
 B)False

Question 6

In general, the most important source of capital for a new entrepreneurial venture is which of the following?

Accepted Answer

A)  Informal investors
B)  Venture Capital
C)  Banks
D)  Profits from the venture
E)  IncubatorsF) None of the above
G) All of the above

Question 7

The Total Entrepreneurial Activity (TEA)index tracks the percent of the adult population that is trying to start or has started an infant business because all other options for work are either absent or unsatisfactory.

Accepted Answer

A) True 
 B)False

Question 8

Baby boomers are not as concerned about job security as were their parents.

Accepted Answer

A) True 
 B)False

Question 9

Describe the World Economic Forum's (WEF)3 phases of economic development.

Accepted Answer

<img  loading="lazy" src="/assets/images/blured-textbook.svg" class="d-inline m-1" alt="blured image" width="139" height="30">The factor-driven phase is dominated by ...

Question 10

Thirty year old people fall into the most entrepreneurially active age demographic.

Accepted Answer

A) True 
 B)False  True

Question 11

Yahoo! Inc.'s IPO set the all-time record, in terms of capital raised, for Silicon Valley companies.

Accepted Answer

A) True 
 B)False

Question 12

Explain, in your own words, Schumpeter's view of entrepreneurship's role in an economy and society.

Accepted Answer

<img  loading="lazy" src="/assets/images/blured-textbook.svg" class="d-inline m-1" alt="blured image" width="139" height="30">Schumpeter argued that the innovation an...

Question 13

According to the GEM model, how many sets of activities create the basis for national economic growth?

Accepted Answer

A)  2
B)  3
C)  4
D)  5
E)  6F) C) and D)
G) A) and B)

Question 14

What was the most critical step in Federal Express' rapid growth?

Accepted Answer

<img  loading="lazy" src="/assets/images/blured-textbook.svg" class="d-inline m-1" alt="blured image" width="139" height="30">In the mid-1970s, Federal Express had ta...

Question 15

How much does the Bayh-Dole Act contribute annually to the US economy?

Accepted Answer

A)  $300 million
B)  $950 million
C)  $12 billion
D)  $32 billion
E)  $40 billionF) A) and C)
G) A) and E)

Question 16

How much new VC money was committed in 1975?

Accepted Answer

A)  $10 million
B)  $45 million
C)  $145 million
D)  $430 million
E)  $930 millionF) A) and E)
G) B) and D) A

Question 17

A majority of small business owners feel their companies have increased their overall standard of living.

Accepted Answer

A) True 
 B)False

Question 18

In 2005, North American incubators assisted more than 350,000 startup companies

Accepted Answer

A) True 
 B)False

Question 19

Which of the following industries was the prime example of venture capital fueling the pace of commercial innovation?

Accepted Answer

A)  Semi-Conductors
B)  Mini-Computers
C)  Biotechnology
D)  Personal Computers
E)  All of the AboveF) B) and D)
G) C) and D)

Question 20

Which factors led to American entrepreneurial revolution?

Accepted Answer

<img  loading="lazy" src="/assets/images/blured-textbook.svg" class="d-inline m-1" alt="blured image" width="139" height="30">In the 1960s a generation of Americans w...

Exam 1: The Power of Entrepreneurship

A High-Expectation Nascent Entrepreneur is an individual who expects to employ at least 50 employees within four years' time, through his or her new firm.

Correct AnswerverifiedShow Answer

How much do informal investors contribute to startup businesses annually?

Correct AnswerverifiedE

Which of the trends below converged to spark the Internet revolution of the 1990's?

Correct AnswerverifiedShow Answer

Churning is a main component of a healthy economy.

Correct AnswerverifiedShow Answer

Venture Capital is a source of growth funding exclusively for technology companies with the potential for rapid, scalable growth.

Correct AnswerverifiedShow Answer

In general, the most important source of capital for a new entrepreneurial venture is which of the following?

Correct AnswerverifiedShow Answer

The Total Entrepreneurial Activity (TEA)index tracks the percent of the adult population that is trying to start or has started an infant business because all other options for work are either absent or unsatisfactory.

Correct AnswerverifiedShow Answer

Baby boomers are not as concerned about job security as were their parents.

Correct AnswerverifiedShow Answer

Describe the World Economic Forum's (WEF)3 phases of economic development.

Correct AnswerverifiedThe factor-driven phase is dominated by ...View AnswerShow Answer

Thirty year old people fall into the most entrepreneurially active age demographic.

Correct AnswerverifiedTrue

Yahoo! Inc.'s IPO set the all-time record, in terms of capital raised, for Silicon Valley companies.

Correct AnswerverifiedShow Answer

Explain, in your own words, Schumpeter's view of entrepreneurship's role in an economy and society.

Correct AnswerverifiedSchumpeter argued that the innovation an...View AnswerShow Answer

According to the GEM model, how many sets of activities create the basis for national economic growth?

Correct AnswerverifiedShow Answer

What was the most critical step in Federal Express' rapid growth?

Correct AnswerverifiedIn the mid-1970s, Federal Express had ta...View AnswerShow Answer

How much does the Bayh-Dole Act contribute annually to the US economy?

Correct AnswerverifiedShow Answer

How much new VC money was committed in 1975?

Correct AnswerverifiedA

A majority of small business owners feel their companies have increased their overall standard of living.

Correct AnswerverifiedShow Answer

In 2005, North American incubators assisted more than 350,000 startup companies

Correct AnswerverifiedShow Answer

Which of the following industries was the prime example of venture capital fueling the pace of commercial innovation?

Correct AnswerverifiedShow Answer

Which factors led to American entrepreneurial revolution?

Correct AnswerverifiedIn the 1960s a generation of Americans w...View AnswerShow Answer

Correct Answer
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The factor-driven phase is dominated by ...
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True

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Schumpeter argued that the innovation an...
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In the mid-1970s, Federal Express had ta...
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A

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In the 1960s a generation of Americans w...
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