Module 5 Questions Already Passed

Small businesses in the U.S. generate about 50% of our gross domestic product (GDP). True False {Ans: true}To succeed in a business, a new owner must understand _____. the principles of cash flow the basics of business management the essentials of time management all of these {Ans: all of these}About 80 percent of small businesses in the U.S. are concentrated in the _____ sector. service-producing retail professional goods-producing {Ans: service producing}A(n) _____ is someone who identifies a business opportunity and assumes the risk of creating and running a business to take advantage of it. a.small business owner b.entrepreneur c.executive d.marketer {Ans: b. entrepreneur}Unfortunately for small business, the service-producing sector has been steadily decreasing in revenues over the past 10 years True False {Ans: false (??)}Clarke Santiago and his wife Teresa, parents of two children, opened a buffet restaurant last year. They've been so successful with their family-style atmosphere that some investor friends have offered funding to expand into two additional locations. The investors also want to consider opening several more restaurants each year. After thinking it over, the Santiagos decided to stick with one restaurant and add catering services—a move that should provide them with