Which of the Following Is True of Entrepreneurial Ventures

question 3

Multiple Choice

Which of the following is true of entrepreneurial ventures?

• A) Companies offering mundane products cannot hope to gain competitive advantage.
• B) For start-ups, failure is an exception rather than the rule.
• C) Successful companies do not always require a cutting-edge technology or an exciting new product.
• D) Acquiring venture capital is essential to the success of most start-up businesses.
• E) The odds of survival of an entrepreneurial venture worsen if it grows to at least 10 or 20 people.

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Definitions:

Total Revenues

The overall amount of income generated by a business from all its activities, indicating the sales performance over a certain period.

Wayne's Jacket Shop

A hypothetical or specific retail business specialized in selling jackets.

Imperfectly Competitive Market

A market structure where all firms have some control over the prices because the products are differentiated and there are few participants.

Total-Product Schedule

A chart that shows the maximum output of a good achievable from different levels of input usage, holding technology constant.