According to the textbook, there are three types of startup firms: ________.
A) lifestyle firms, general firms, and entrepreneurial firms
B) standard-of-living firms, statutory firms, and general firms
C) entrepreneurial firms, standard-of-living firms, and statutory firms
D) lifestyle firms, salary-substitute firms, and entrepreneurial firms
E) innovative firms, entrepreneurial firms, and standard firms

Question

Quizplus · Accepted Answer

Lifestyle firms, salary-substitute firms, and entrepreneurial firms are the three types of startup firms mentioned in the context of entrepreneurship. Lifestyle firms are built around the personal preferences and needs of their owners. Salary-substitute firms aim to provide their owners with a similar income to what they would earn if employed by someone else. Entrepreneurial firms are those that aim for rapid growth and potentially significant profits.

According to the Textbook, There Are Three Types of Startup