Business Administration > STUDY GUIDE > BUSA 1305 Chapter 3 quiz World of Business( latest version)all answers correct!!! (All)

BUSA 1305 Chapter 3 quiz World of Business( latest version)all answers correct!!!

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1) The Small Business Administration is the government agency charged with owning small businesses. Answer: FALSE Explanation: The Small Business Administration is a government agency that assists ... small businesses. Page Ref: 60 Difficulty: Easy Objective: 3.1 Learning Outcome: Describe the role of small businesses in the economy Skill: Concept 2) Small businesses produce more patents per employee than large patenting firms. Answer: TRUE Explanation: Small businesses are an important source of innovation as evidenced by the production of patents. Page Ref: 61 Difficulty: Moderate Objective: 3.1 Learning Outcome: Describe the role of small businesses in the economy Skill: Concept 3) Most businesses in the United States are large businesses with more than 500 employees. Answer: FALSE Explanation: Almost 86 percent of all U.S. businesses have no more than 20 employees. Page Ref: 61 Difficulty: Moderate Objective: 3.1 Learning Outcome: Describe the role of small businesses in the economy Skill: Concept 4) Major innovations are most likely to come from large corporations. Answer: FALSE Explanation: Most major innovations come from small businesses. Page Ref: 61 Difficulty: Moderate Objective: 3.1 Learning Outcome: Describe the role of small businesses in the economy Skill: Concept [Show More]

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