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Exam 5: Small Business, Entrepreneurship, and Franchises

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Question 71

Multiple Choice

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Approximately what percentage of the jobs in the United States do small businesses provide?

A) 5 percent
B) 10 percent
C) 30 percent
D) over 50 percent
E) nearly 90 percent

F) B) and E)
G) A) and B)

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Question 72

Multiple Choice

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Which of the following is an advantage to the franchisor in a franchise agreement?

A) Opportunity to start a business with limited capital
B) Access to local advertising materials
C) Fast and selective distribution of products
D) Chance to participate in national advertising
E) Chance to minimize costs through cooperative buying

F) A) and B)
G) D) and E)

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Question 73

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There is much less likelihood of failure with a franchised outlet than with an independently owned small business.

​Teenage entrepreneurship is growing especially in the _____ industry.

The various types of businesses attracting small business are generally grouped into service industries, distribution industries, and financial industries.

What are small-business investment companies? Name some companies that were financed through SBICs during their initial stages.

John and Ruby Couch just opened a computer store in a small community. Before opening the store, they listened to their SBA counselor's warnings about the importance of having balanced experience, that is, marketing, finance, and personnel experience in the computer-store business because

Your friend has just been awarded a franchise in a particular industry. He explains that his franchisor has licensed him to sell and distribute a product to retailers. Knowing that this type of franchise arrangement is most common in one particular industry, you suspect that your friend has obtained a franchise in the ____ industry.

Michael Tucker operates Tucker Farms in northern Illinois. Last year, his annual receipts were just under $750,000. According to the Small Business Administration, Tucker Farms is a

Franchising experienced tremendous growth during the early 1430s.

The SBA's website resource targeted at assisting women-owned business is known as the SBA's Online Women's Resource and Growth Center.

University-based groups providing individual counseling and practical training to owners of small businesses are known as

You stop at a SUBWAY to get a sandwich for lunch and you notice that they now have TCBY yogurt. This is an example of a

The average size of an SBA-guaranteed business loan is about

All of the following are reasons people go into business except the

The purchaser of a franchise is called the franchisee.

What are the advantages of owning a small business? Give examples.

Service industries account for approximately what percentage of all small businesses?

Distribution industries account for approximately what percentage of all small businesses?

What is the primary function of SBA financial assistance? Where do most SBA loans originate?