Importance of Small and Medium-Sized Enterprises (SMEs) in Economic Development
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Questions and Answers

What percentage of GDP do Small and Medium-sized Enterprises (SMEs) contribute to in Egypt, according to some estimates?

  • 60%
  • 80% (correct)
  • 70%
  • 50%

Why do small business owners and students of small business management typically read volumes like this?

  • To explore historical business cases
  • To understand planning and operations of small firms (correct)
  • To research global economic trends
  • To study large corporations

What did the United States Congress pass in 1953 related to small businesses?

  • Small Business Development Act
  • Small Business Administration Act
  • Small Business Act (correct)
  • Small Business Protection Act

In which areas do Small and Medium-sized Enterprises (SMEs) typically contribute significantly?

<p>65-75% to employment and 80% to GDP (B)</p> Signup and view all the answers

What is the main goal of introducing students and researchers to small businesses and SMEs?

<p>To present SMEs accurately (B)</p> Signup and view all the answers

What role have small businesses and medium-sized enterprises historically played in world economic success?

<p>Vital role (D)</p> Signup and view all the answers

What is one of the common measures used in 1977 to define a small firm in the manufacturing sector?

<p>Employing fewer than 250 employees (A)</p> Signup and view all the answers

What defines a micro-enterprise in terms of number of workers?

<p>At most 5 workers (A)</p> Signup and view all the answers

Which financial asset defines a medium-sized enterprise in the European Union, according to the text?

<p>EUR 43 million balance sheet (B)</p> Signup and view all the answers

What is a common characteristic of small businesses as mentioned in the text?

<p>Management is independent with owners usually being managers (C)</p> Signup and view all the answers

How do some countries differ in defining SMEs compared to the European Union?

<p>By having an upper limit of 200 employees (B)</p> Signup and view all the answers

What is a defining characteristic of an SME according to the text?

<p>Mainly local area of operations with independent management and ownership (D)</p> Signup and view all the answers

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