Which of the Following Statements Is True About Entrepreneurs

question 61

Multiple Choice

Which of the following statements is true about entrepreneurs?

• A) They are typically angel investors.
• B) They essentially start new businesses.
• C) They essentially hire professional managers.
• D) They essentially manage businesses of other individuals.
• E) They are essentially employees of a corporation.

---

Definitions:

State And Local Taxes

Taxes imposed by individual states and local governments in the U.S. on income, property, sales, and other activities to fund public services.

Predominantly Regressive

Describing a situation or policy where the burden disproportionately affects those with lower incomes, making it effectively regressive in impact.

Inelastic Demand

A scenario in which the need for a product remains largely unaffected despite variations in its price.

Excise Tax

A tax levied on specific goods, services, and activities, such as tobacco, alcohol, and gambling, often used to discourage their use and generate government revenue.