Which of the Following Statements Is Incorrect Regarding Entrepreneurial Activity

question 60

Multiple Choice

Which of the following statements is incorrect regarding entrepreneurial activity and age range?

• A) The highest percent of business owners fall in the 45-54 age range.
• B) The lowest percent of business owners fall in the 60⁺ age range.
• C) The majority of business founders have no prior work experience.
• D) The majority of individuals who start companies are in their forties and fifties.
• E) Entrepreneurial activity is fairly evenly spread out over age ranges.

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Definitions:

Behavioral Economics

A branch of economics that examines how psychological, emotional, cognitive, cultural, and social influences impact the economic choices made by individuals and institutions.

Economic Behavior

The study of how individuals, businesses, and governments make choices on allocating resources to satisfy their wants and needs.

Narrowly Self-Interested

Acting with only one's immediate personal benefit in mind, often disregarding the well-being or interests of others.

Behavioral Economists

Researchers who study the effects of psychological, cognitive, and emotional factors on economic decision-making.