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1. Which of the following is true of a small business?
a. It is not owned by one individual alone.
b. It has many retail outlets.
c. It does not influence its environment.
d. It is publicly owned.
2. Most successful entrepreneurs:
a. succeed straight out of college.
b. launch their ventures in their spare time.
c. analyze market conditions carefully.
d. succeed alone.
3. A(n) _____ is a contract between an entrepreneur and a parent company; the entrepreneur pays the parent company for the use of its trademarks, products, formulas, and business plans.
a. sponsored agreement
b. express contract
c. unconscionable contract
d. franchising agreement
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