GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 24 Sep 2018, 08:35

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

It wasn’t that long ago that entrepreneurs were considered

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Moderator
avatar
V
Joined: 29 Jan 2015
Posts: 919
Location: India
WE: General Management (Non-Profit and Government)
GMAT ToolKit User Reviews Badge CAT Tests
It wasn’t that long ago that entrepreneurs were considered  [#permalink]

Show Tags

New post 08 May 2017, 06:46
1
1
Question 1
00:00
A
B
C
D
E

Question Stats:

83% (01:36) correct 17% (01:57) wrong based on 142

HideShow timer Statistics

Question 2
00:00
A
B
C
D
E

Question Stats:

63% (00:33) correct 37% (00:39) wrong based on 142

HideShow timer Statistics

Question 3
00:00
A
B
C
D
E

Question Stats:

67% (00:27) correct 33% (00:29) wrong based on 142

HideShow timer Statistics

Question 4
00:00
A
B
C
D
E

Question Stats:

75% (00:50) correct 25% (01:21) wrong based on 134

HideShow timer Statistics

It wasn’t that long ago that entrepreneurs
were considered to be mavericks, rebels, or
even social deviants. They stood out because
Corporate America was built on a foundation
of loyalty and conformity. Big was better and
economies of scale provided formidable barriers
to entry. The last two decades, however, have
placed a number of entrepreneurs in the limelight
who have marched to the tune of a different
drummer.

Today’s entrepreneurs have been heralded
for having the same qualities exhibited by this
country’s first colonists. The colonists had contempt
for the way things were done, and they
weren’t afraid to break away from the establishment.
The entrepreneurs who are heralded by
the media created their own firms so they could
be free to pursue new opportunities and try new
approaches. They showed that bigger isn’t
always better and that the legacy systems and
bureaucratic practices of most established firms
can be like anvils that keep them from keeping
pace with changes in the marketplace. Each day,
entrepreneurs create agile new ventures that
change the way the game is played.

America is known as the “Land of the free
and the home of the brave.” This country encourages
individuality and self-determination. It also
encourages people to “go for it.”

Entrepreneurship has become an integral part
of this country’s culture and economic system
because it reflects the courage to break away
from the pack and the desire to be the master of
one’s own destiny. Three statistics capture the
entrepreneurial spirit in this country. First, 6.8
million households (7.2 percent of the country’s
total) include someone who is trying to start a
business. Second, between 700,000 and 1 million
new businesses are created each year. Third, at
least 90 percent of the richest people in the
United States generated their wealth through
entrepreneurial endeavors.


1- Which of the following statements best describes the main idea of the passage?

(A) Becoming an entrepreneur is very hard, considering that 6.8 million households are trying to start a business every year and, at most, 1 million succeed.
(B) Entrepreneurs were once considered to be trivial sideshows in an America dominated by corporations, but now entrepreneurs are recognized to be vital to the nation’s economy.
(C) American entrepreneurs are chasing quick riches instead of contributing to the American economy through loyalty to the corporations that built this country.
(D) Entrepreneurs have demonstrated that in business smaller is now better.
(E) Big businesses can no longer keep pace with changes in the market, and entrepreneurs will dominate American business in the future.



2- The author of the passage most likely includes the statistic concerning the richest people in the United States in order to

(A) prove that everyone who starts a business is bound to succeed
(B) contrast the conservative nature of today’s entrepreneurs with the mavericks and rebels of past decades
(C) show that entrepreneurs are “playing the game” better than big corporate America
(D) highlight the challenges and difficulties that entrepreneurs face in an ever changing marketplace
(E) point out the absurdity of the statistic that 90 percent of America’s richest people are entrepreneurs



3- According to the passage, how are today’s entrepreneurs viewed compared to the entrepreneurs of the past?

(A) Today’s entrepreneurs are heralded for the things that got entrepreneurs of the past criticized.
(B) Today’s entrepreneurs are treated with much greater skepticism than entrepreneurs of the past.
(C) Entrepreneurs of the past were “in the limelight” because they “walked to the beat of a different drummer.”
(D) It is much easier for today’s entrepreneurs to get financing for their new projects.
(E) Today’s entrepreneurs are praised as “mavericks, rebels, and even social deviants.”



4- Which of the following is NOT one of the phrases used by the author to praise entrepreneurship?

(A) “the courage to break away from the pack”
(B) “built on a foundation of loyalty and conformity”
(C) “create agile new ventures that change the way the game is played”
(D) “integral part of this country’s culture and economic system”
(E) “desire to be the master of one’s own destiny”



_________________

If you liked my post, kindly give me a Kudos. Thanks.

Intern
Intern
avatar
B
Joined: 10 May 2017
Posts: 3
Re: It wasn’t that long ago that entrepreneurs were considered  [#permalink]

Show Tags

New post 11 May 2017, 04:12
Questions were pretty easily answered
Manager
Manager
avatar
S
Joined: 22 Mar 2014
Posts: 141
Location: United States
Concentration: Finance, Operations
GMAT 1: 530 Q45 V20
GPA: 3.91
WE: Information Technology (Computer Software)
Re: It wasn’t that long ago that entrepreneurs were considered  [#permalink]

Show Tags

New post 14 May 2017, 08:27
Took 10 mins.... The passage does not seem to be a 700+ level passage.....
Senior Manager
Senior Manager
User avatar
G
Joined: 19 Oct 2012
Posts: 334
Location: India
Concentration: General Management, Operations
GMAT 1: 660 Q47 V35
GMAT 2: 710 Q50 V38
GPA: 3.81
WE: Information Technology (Computer Software)
Re: It wasn’t that long ago that entrepreneurs were considered  [#permalink]

Show Tags

New post 14 May 2017, 19:46
6.22mins... all correct. ;)

It's a relatively easy passage. Not a 700 level looking at the passage and questions. More like Mid-Low difficulty level.
_________________

Citius, Altius, Fortius

GMAT Club Bot
Re: It wasn’t that long ago that entrepreneurs were considered &nbs [#permalink] 14 May 2017, 19:46
Display posts from previous: Sort by

It wasn’t that long ago that entrepreneurs were considered

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  

Events & Promotions

PREV
NEXT


Copyright

GMAT Club MBA Forum Home| About| Terms and Conditions and Privacy Policy| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.