Which industrial sector promotes small-scale businesses and Entrepreneurship, and has lower barriers to market entry?Question 20Answera.Manufacturing.b.Service.c.Distribution.d.Agriculture.

Which of the following sectors is most conducive to entrepreneurial success in the chosen country?Question 13Answera.manufacturingb.agriculturec.serviced.government

New entrants to an industry are more likely when (i.e., entry barriers are low when)a.It is difficult to gain access to distribution channels.b.Economies of scale in the industry are high.c.Product differentiation in the industry is low.d.Capital requirements in the industry are high.

Which of the following conditions generally raise the barriers to entering an industry?Multiple Choicelow levels of brand loyalty on the part of customers and the presence of more than 20 rivals in the industryrapid market growth, low buyer switching costs, and weak brand preferences and customer loyaltyproduct offerings that are pretty much standardized from rival to rivalhigh capital requirements, difficulties in building a network of distributors-retailers and securing adequate space on retailers’ shelves, and the likelihood that industry incumbents will strongly contest the efforts of new entrants to gain a market footholdThe industry is not characterized by scale economies and/or sizable learning or experience curve effects, and few firms in the industry hold key patents and/or possess significant proprietary technology not readily available to a newcomer.

Why are small businesses important to a country's economy?Question 12Answera.They can provide specialist support to larger companies.b.They can be innovators of new products.c.They give an outlet for entrepreneurs.d.All the three.

These are manufacturing companies with more than a hundred of employees whichcan be an opportunity for entrepreneursA. Industry B. Macro Market C. Market D. Micro-market