Practice Quiz

MTEL Business Practice Exam - Question List

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71.
Which of the following statements about the role of small businesses in the U.S. economy is true?
  1. Small businesses provide more capital to the U.S. economy than do large businesses.
  2. Small businesses contribute the majority of tax revenue to the U.S. Treasury.
  3. Small businesses provide more jobs in the U.S. economy than do large businesses.
  4. Small businesses generate most of the U.S. gross domestic product.
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72.
In general, successful entrepreneurs are most likely to be:
  1. Self-confident.
  2. Cautious.
  3. Idealistic.
  4. Pessimistic.
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73.
Entrepreneurs are often more successful than large corporations in penetrating markets that are relatively saturated because entrepreneurs are usually better able to: 
  1. Remain in the market despite setbacks.
  2. Design innovative advertising campaigns.
  3. Comply with consumer protection laws.
  4. Address specialized needs of customers.
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74.
Which of the following describes a significant difference between a limited liability company (LLC) and a standard corporation? 
  1. LLCs are not covered by government antitrust laws.
  2. LLCs are allowed to transfer all income tax to members.
  3. LLCs are required to file articles of organization with the state.
  4. LLCs are independent entities solely responsible for their debts.
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75.
An entrepreneur is considering several different locations within a large city for the site of a family-style restaurant. In selecting a location, the entrepreneur should give the highest priority to which of the following types of information?
  1. The proximity of each location to schools, libraries, and other public buildings.
  2. The number and characteristics of media outlets in each area.
  3. The proximity of each location to supermarkets and other sources of supplies.
  4. The number and characteristics of similar restaurants in each area.
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