1. The _______stage includes making decisions that support the future growth of your venture. In this stage, your decisions reflect the scalability of your venture.

A. resource

B. market entry

C. maturity

D. growth

2. Entrepreneurs face many legal issues, including intellectual property, contracts, antitrust laws, fraud, employment, and torts.

A. True B. False

3. _____ prohibits unfair business practices.

A. Sherman Act (1890)

B. Bayh-Dole Act (1980)

C. Clayton Act (1914)

D. Federal Trade Commission Act (1914)

4. Registration that provides the owner the ability to use a name, symbol, jingle, or character in conjunction with a specific product or service, and prevents others from using those same symbols to sell their products is called

A. trade secret

B. design patent

C. trademark

D. copyright

5. Amazon, Bitcoin, and Uber & Lyft are examples of

A. disruptive technology

B. invention

C. linear thinking

D. ideation

6. The creative process that begins with empathy is known as ________.

A. Stanford's model of human-centric design

B. build-measure-learn

C. open innovation

D. disruptive innovation

7. Demand is the amount of a product or service produced. Supply is the consumer or user desire for the outputs, the products, or services produced. We can use the ideas from Schumpeter to identify new opportunities.

A. True B. False

8. As an entrepreneur, the _______helps you determine the size of the market and potential target market, local market growth, income levels, and key demographics that might fit the potential customer profile. For example, if you were considering opening a new candy store with unique flavors preferred by children, census data could tell you the number of children living in the area, the ratio of boys to girls, their ages, and the general income levels of the families in town.

A. market demand

B. census data

C. margins

D. market structure

9. ____ refers to all the resources the entrepreneur will need to launch and sustain the business venture. These include people, products, facilities, technology, suppliers, partners, and finances, all of which the entrepreneur must have to fulfill the customer value proposition.

A. Opportunity screening

B. Demand

C. Financial viability

D. Infrastructure

10. The vision statement of an organization's reason for being that defines its primary long-term goal, explains what the venture will do, what value it will provide to the end customer, and how it will accomplish that action.

A. True B. False