Michael is a middle-aged professional who lost his job five months ago when his former employer downsized. He has been actively looking for work since then but has not been able to find a job that truly utilizes his abilities or that offers an income anywhere close to what he earned in his previous position. He is beginning to feel that the only way to survive his current situation is to start his own business. Michael might well become a:
A) venture capitalist.
B) freelance entrepreneur.
C) necessity entrepreneur.
D) frictional worker.
Question 2
With respect to combined business skills and knowledge, which of the following partnerships is best?
A) Joe, Louis, and Raul own a bakery. They are able bakers by trade. Each wants to spend all of his time baking items.
B) Carolyn, Melvin, and Cindy own a boutique. Carolyn has marketing expertise. Melvin has ten years' experience operating a successful small store, including hiring employees, handling inventory control, buying, and managing credit. Cindy is a CPA. Each has agreed to use his or her experience and expertise for the success of the business.
C) Mary and Robert, both young pharmacists, own a pharmacy. Neither has taken a business course, but they are willing to learn.
D) Carter and Rene own a video store. Rene is most experienced as a homemaker and mother. Carter has worked as an auto mechanic for ten years.
E) Vince and Linda own a vacuum cleaner store. Vince knows everything possible about store operations. Linda is wealthy and can provide investment capital.
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