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.

Small companies have flourished because theyemploy more skilled people than larger businesses.often expand easily in mature industries.have better organizational policies and procedures.respond more quickly to their customers' needs.

Multiple Select QuestionSelect all that applyWhich two statements are accurate regarding the role of small businesses in the U.S. economy?Multiple select question.More than 99 percent of U.S. firms are classified as small businesses.Small businesses employ nearly half of all private workers.Approximately 50 percent of all U.S. firms are small businesses.Small firms represent approximately 25 percent of exported goods from the United States.

All competitive advantages do not accrue to large sized firms. A major advantage of smaller firms is that theya.Have more loyal and diverse workforcesb.Are more likely to have organizational slackc.Can launch competitive actions more quicklyd.Can wait for larger firms to make mistakes in introducing innovative products

The contribution a small business on the economy is measured based on its impact to which economic systems? Question 16Answer a. International trade, interest rates, and the service industry b. Job creation, contributions to big business, and innovation c. The service industry, the stock market, and job creation d. Bank loans and innovation e. Bank loans, and contributions to big business

Small businesses are particularly suited to abiding by the marketing concept because:Group of answer choicesthey have more resources to work with than large companies.they are less environmentally conscious than large companies.they work within a tighter bureaucratic framework than large companies.they are closer to the customer than are large companies. PreviousNext