According to Figure 9

question 10

Multiple Choice

According to Figure 9.5, an R² of 0.86 indicates that 86% of the variation in annual amount per informal investor is explained by:

• A) amount of startup funding
• B) total entrepreneurial activity (TEA)
• C) Income per capita
• D) GDP per capita
• E) Expected IRR

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Definitions:

Fair Market Value

The price at which property would sell for on the open market between a willing buyer and a willing seller, both having reasonable knowledge of the relevant facts.

Valid Consideration

An essential element in the formation of a contract, referring to something of value (such as goods, services, or money) exchanged by the parties that induces them to enter into the agreement.

Illusory Consideration

An apparent promise or agreement that lacks a real commitment and therefore does not form a binding contract.

Adequacy of Consideration

An evaluation of whether something of legally sufficient value has been given in exchange for a promise or action, as part of a contract.