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261.The Small Business Administration's microloan program awards loans to entrepreneurs based primarily on their:
A. collateral.
B. credit history.
C. previous business success.
D. integrity and sound business idea.

262.A Small Business Investment Company (SBIC) is a(n):
A. agency of the federal government that loans money to high tech firms.
B. private investment company that is licensed by the SBA to make loans to small businesses.
C. private firm that offers loans to small businesses in return for a share of ownership in the firm.
D. agency set up by state governments to provide managerial advice and support to small businesses.

263.One of the best places for young entrepreneurs to start shopping for a SBA loan is a:
A. Small Business Development Center.
B. financial institution specializing in business loans.
C. college or university financial aid office.
D. the Internet webpage: of the Venture Capitalists Association.

264.A ________ refers to people with unsatisfied wants and needs who are willing and able to buy a product or service.
A. market
B. consumer cooperative
C. consumer collective
D. buyer's cooperative

265.To be considered part of a market, an individual must:
A. be a registered buyer.
B. have made a purchase within the past 30 days.
C. know the names and addresses of two or more sellers.
D. have both a willingness to buy and the financial resources needed to buy.

266.Small business owners often struggle in attracting qualified workers. Which of the following contributes to this problem?
A. Bosses in small firms tend to be disrespectful to the workers
B. Owners will not often listen to ideas suggested by the workers
C. Employee relations are especially poor in small firms
D. Many jobs in small firms have low pay and few benefits

267.Employees of small businesses often have greater job satisfaction than do employees of larger firms. One reason for this difference in job satisfaction is that employees of small businesses often:
A. earn higher wages.
B. receive more vacation time.
C. get more respect from their bosses.
D. have more job security and better fringe benefits.

268.A new business that sets up a(n) _____________ from the start is saving itself time and grief later.
A. angel investment network
B. good accounting system
C. detailed supplier network
D. vertical marketing system

269.Small businesses must seek advice from outside experts. In order to put together official documents such as leases, contracts, and partnership agreements, it is important to seek the advice of __________.
A. a friend who has already started a business
B. a competitor in a similar business
C. an attorney
D. a marketing expert

270.A(n) ____________ is a valuable source of information regarding techniques to reduce a firm's exposure to risk.
A. insurance agent
B. accountant
C. liability assessor
D. union business agent

 

 

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