According to "Where Do Start-Ups Get Their Money?" venture capital is not an option for most entrepreneurs. Where does the majority of funding come from for start-ups?
A. Second mortgages on personal homes.
B. Bank business loans.
C. Personal savings.
D. Business and personal credit cards.
Answer: C
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When the price of milk goes up as a result of a rightward shift of the demand curve for milk, the total revenue collected by milk producers will
A) increase only if milk is inelastic in supply. B) decrease only if milk is elastic in supply. C) remain constant only if milk has a unitary price elasticity of supply. D) none of the above
Nick considers macaroni and cheese to be an inferior good. As a result of macaroni and cheese being an inferior good, the
A) substitution effect must be larger in magnitude than the income effect so that less is purchased as the price falls. B) substitution effect must be smaller in magnitude than the income effect so that less is purchased as the price falls. C) income effect is positive, so that more is purchased as income increases. D) income effect is negative, so that less is purchased as income increases.
Alternative approaches for reducing carbon dioxide emissions are
A) carbon taxes and carbon trading. B) carbon trading and carbon subsidies. C) carbon taxes and carbon scrubbing. D) burning low carbon coal and deforestation.
A local electricity-generating company has a monopoly that is protected by an entry barrier that takes the form of
A) a perfectly inelastic demand curve. B) economies of scale. C) control of a key raw material. D) network externalities.