Pacific Printing LLC Is a Startup That Is Working on a New

question 44

Multiple Choice

Pacific Printing LLC is a startup that is working on a new technology for the printing industry. Because the technology it's working on is highly proprietary, the company is located in the warehouse district of a large western city. Pacific's founder, Jan Sims, rarely gives interviews, and is careful to not divulge much about what the company is doing. Which of the following common myths about entrepreneurs does the behavior of its founder, Jan Sims, dispel?

• A) Entrepreneurs are born, not made.
• B) Entrepreneurs are gamblers.
• C) Entrepreneurs are motivated primarily by money.
• D) Entrepreneurs should be young and energetic.
• E) Entrepreneurs love the spotlight.

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Definitions:

Estimate

To make an approximate judgment or calculation of the value, number, quantity, or extent of something.

Winner's Curse

A phenomenon that occurs in auctions where the winning bidder pays more than what the item is actually worth, usually because of incomplete information or misjudgment.

Common-value Auction

an auction format where the item for sale is of the same value to all bidders, but the bidders have different information about the item's actual value.

Too Optimistic

Pertains to a situation or mindset where expectations are unrealistically positive, potentially overlooking possible risks or challenges.