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PASSAGE:Recent years have brought minority-owned businesses in the United States unprecedented opportunities-as well as new and significant risks. Civil rights activists have long argued that one of the principal reasons why Blacks, Hispanics and the other minority groups have difficulty establishing themselves in business is that they lack access to the sizable orders and subcontracts that are generated by large companies. Now congress, in apparent agreement, has required by law that businesses awarded federal contracts of more than $500,000 do their best to find minority subcontractors and record their efforts to do so on forms field with the government. Indeed, some federal and local agencies have gone so far as to set specific percentage goals for apportioning parts of public works contracts to minority enterprises. Corporate response appears to have been substantial. Accoring to figures collected in 1977, the total of corporate contracts with minority business rose from $77 to $1. 1 billion in 1977. The projected total of corporate contracts with minority business for the early 1980’s is estimated to be over $3 billion per year with no letup anticipated in the next decade. Promising as it is for minority businesses, this increased patronage poses dangers for them, too. First, minority firms risk expanding too fast and overextending themselves financially, since most are small concerns and, unlike large businesses they often need to make substantial investments in new plants, staff, equipment, and the like in order to perform work subcontracted to them. If, there after, their subcontracts are for some reason reduced, such firms can face potentially crippling fixed expenses. The world of corporate purchasing can be frustrating for small entrepreneur’s who get requests for elaborate formal estimates and bids. Both consume valuable time and resources and a small cmpany’s efforts must soon result in orders, or both the morale and the financial health of the business will suffer.A second risk is that White-owned companies may-seek to cash inon the increasing apportion-ments through formation of joint ventures with minority-owned concerns, of course, in many instances there are legitimate reasons for joint ventures; clearly, white and minority enterprises can team up to acquire business that neither could Third, a minority enterprise that secures the business of one large corporate customer often runs the danger of becoming – and remaining dependent. Even in the best of circumstances, fierce competition from larger, more established companies makes it difficult for small concerns to broaden their customer bases; when such firms have nearly guaranteed orders from a single corporate benefactor, they may truly have to struggle against complacency arising from their current success.Q. The passage suggests that the failure of a large business to have its bids for subcontracts results quickly in order might cause it toa)experience frustrations but not serious financial harmb)face potentially crippling fixed expensesc)have to record its efforts on forms filed with the governmentd)increase its spending with minority subcontractorse)revise its procedure for making bids for federal contracts and subcontractsCorrect answer is option 'A'. Can you explain this answer? for GRE 2024 is part of GRE preparation. The Question and answers have been prepared according to the GRE exam syllabus. Information about PASSAGE:Recent years have brought minority-owned businesses in the United States unprecedented opportunities-as well as new and significant risks. Civil rights activists have long argued that one of the principal reasons why Blacks, Hispanics and the other minority groups have difficulty establishing themselves in business is that they lack access to the sizable orders and subcontracts that are generated by large companies. Now congress, in apparent agreement, has required by law that businesses awarded federal contracts of more than $500,000 do their best to find minority subcontractors and record their efforts to do so on forms field with the government. Indeed, some federal and local agencies have gone so far as to set specific percentage goals for apportioning parts of public works contracts to minority enterprises. Corporate response appears to have been substantial. Accoring to figures collected in 1977, the total of corporate contracts with minority business rose from $77 to $1. 1 billion in 1977. The projected total of corporate contracts with minority business for the early 1980’s is estimated to be over $3 billion per year with no letup anticipated in the next decade. Promising as it is for minority businesses, this increased patronage poses dangers for them, too. First, minority firms risk expanding too fast and overextending themselves financially, since most are small concerns and, unlike large businesses they often need to make substantial investments in new plants, staff, equipment, and the like in order to perform work subcontracted to them. If, there after, their subcontracts are for some reason reduced, such firms can face potentially crippling fixed expenses. The world of corporate purchasing can be frustrating for small entrepreneur’s who get requests for elaborate formal estimates and bids. Both consume valuable time and resources and a small cmpany’s efforts must soon result in orders, or both the morale and the financial health of the business will suffer.A second risk is that White-owned companies may-seek to cash inon the increasing apportion-ments through formation of joint ventures with minority-owned concerns, of course, in many instances there are legitimate reasons for joint ventures; clearly, white and minority enterprises can team up to acquire business that neither could Third, a minority enterprise that secures the business of one large corporate customer often runs the danger of becoming – and remaining dependent. Even in the best of circumstances, fierce competition from larger, more established companies makes it difficult for small concerns to broaden their customer bases; when such firms have nearly guaranteed orders from a single corporate benefactor, they may truly have to struggle against complacency arising from their current success.Q. The passage suggests that the failure of a large business to have its bids for subcontracts results quickly in order might cause it toa)experience frustrations but not serious financial harmb)face potentially crippling fixed expensesc)have to record its efforts on forms filed with the governmentd)increase its spending with minority subcontractorse)revise its procedure for making bids for federal contracts and subcontractsCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for GRE 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for PASSAGE:Recent years have brought minority-owned businesses in the United States unprecedented opportunities-as well as new and significant risks. Civil rights activists have long argued that one of the principal reasons why Blacks, Hispanics and the other minority groups have difficulty establishing themselves in business is that they lack access to the sizable orders and subcontracts that are generated by large companies. Now congress, in apparent agreement, has required by law that businesses awarded federal contracts of more than $500,000 do their best to find minority subcontractors and record their efforts to do so on forms field with the government. Indeed, some federal and local agencies have gone so far as to set specific percentage goals for apportioning parts of public works contracts to minority enterprises. Corporate response appears to have been substantial. Accoring to figures collected in 1977, the total of corporate contracts with minority business rose from $77 to $1. 1 billion in 1977. The projected total of corporate contracts with minority business for the early 1980’s is estimated to be over $3 billion per year with no letup anticipated in the next decade. Promising as it is for minority businesses, this increased patronage poses dangers for them, too. First, minority firms risk expanding too fast and overextending themselves financially, since most are small concerns and, unlike large businesses they often need to make substantial investments in new plants, staff, equipment, and the like in order to perform work subcontracted to them. If, there after, their subcontracts are for some reason reduced, such firms can face potentially crippling fixed expenses. The world of corporate purchasing can be frustrating for small entrepreneur’s who get requests for elaborate formal estimates and bids. Both consume valuable time and resources and a small cmpany’s efforts must soon result in orders, or both the morale and the financial health of the business will suffer.A second risk is that White-owned companies may-seek to cash inon the increasing apportion-ments through formation of joint ventures with minority-owned concerns, of course, in many instances there are legitimate reasons for joint ventures; clearly, white and minority enterprises can team up to acquire business that neither could Third, a minority enterprise that secures the business of one large corporate customer often runs the danger of becoming – and remaining dependent. Even in the best of circumstances, fierce competition from larger, more established companies makes it difficult for small concerns to broaden their customer bases; when such firms have nearly guaranteed orders from a single corporate benefactor, they may truly have to struggle against complacency arising from their current success.Q. The passage suggests that the failure of a large business to have its bids for subcontracts results quickly in order might cause it toa)experience frustrations but not serious financial harmb)face potentially crippling fixed expensesc)have to record its efforts on forms filed with the governmentd)increase its spending with minority subcontractorse)revise its procedure for making bids for federal contracts and subcontractsCorrect answer is option 'A'. Can you explain this answer?.

Solutions for PASSAGE:Recent years have brought minority-owned businesses in the United States unprecedented opportunities-as well as new and significant risks. Civil rights activists have long argued that one of the principal reasons why Blacks, Hispanics and the other minority groups have difficulty establishing themselves in business is that they lack access to the sizable orders and subcontracts that are generated by large companies. Now congress, in apparent agreement, has required by law that businesses awarded federal contracts of more than $500,000 do their best to find minority subcontractors and record their efforts to do so on forms field with the government. Indeed, some federal and local agencies have gone so far as to set specific percentage goals for apportioning parts of public works contracts to minority enterprises. Corporate response appears to have been substantial. Accoring to figures collected in 1977, the total of corporate contracts with minority business rose from $77 to $1. 1 billion in 1977. The projected total of corporate contracts with minority business for the early 1980’s is estimated to be over $3 billion per year with no letup anticipated in the next decade. Promising as it is for minority businesses, this increased patronage poses dangers for them, too. First, minority firms risk expanding too fast and overextending themselves financially, since most are small concerns and, unlike large businesses they often need to make substantial investments in new plants, staff, equipment, and the like in order to perform work subcontracted to them. If, there after, their subcontracts are for some reason reduced, such firms can face potentially crippling fixed expenses. The world of corporate purchasing can be frustrating for small entrepreneur’s who get requests for elaborate formal estimates and bids. Both consume valuable time and resources and a small cmpany’s efforts must soon result in orders, or both the morale and the financial health of the business will suffer.A second risk is that White-owned companies may-seek to cash inon the increasing apportion-ments through formation of joint ventures with minority-owned concerns, of course, in many instances there are legitimate reasons for joint ventures; clearly, white and minority enterprises can team up to acquire business that neither could Third, a minority enterprise that secures the business of one large corporate customer often runs the danger of becoming – and remaining dependent. Even in the best of circumstances, fierce competition from larger, more established companies makes it difficult for small concerns to broaden their customer bases; when such firms have nearly guaranteed orders from a single corporate benefactor, they may truly have to struggle against complacency arising from their current success.Q. The passage suggests that the failure of a large business to have its bids for subcontracts results quickly in order might cause it toa)experience frustrations but not serious financial harmb)face potentially crippling fixed expensesc)have to record its efforts on forms filed with the governmentd)increase its spending with minority subcontractorse)revise its procedure for making bids for federal contracts and subcontractsCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for GRE. Download more important topics, notes, lectures and mock test series for GRE Exam by signing up for free.

Here you can find the meaning of PASSAGE:Recent years have brought minority-owned businesses in the United States unprecedented opportunities-as well as new and significant risks. Civil rights activists have long argued that one of the principal reasons why Blacks, Hispanics and the other minority groups have difficulty establishing themselves in business is that they lack access to the sizable orders and subcontracts that are generated by large companies. Now congress, in apparent agreement, has required by law that businesses awarded federal contracts of more than $500,000 do their best to find minority subcontractors and record their efforts to do so on forms field with the government. Indeed, some federal and local agencies have gone so far as to set specific percentage goals for apportioning parts of public works contracts to minority enterprises. Corporate response appears to have been substantial. Accoring to figures collected in 1977, the total of corporate contracts with minority business rose from $77 to $1. 1 billion in 1977. The projected total of corporate contracts with minority business for the early 1980’s is estimated to be over $3 billion per year with no letup anticipated in the next decade. Promising as it is for minority businesses, this increased patronage poses dangers for them, too. First, minority firms risk expanding too fast and overextending themselves financially, since most are small concerns and, unlike large businesses they often need to make substantial investments in new plants, staff, equipment, and the like in order to perform work subcontracted to them. If, there after, their subcontracts are for some reason reduced, such firms can face potentially crippling fixed expenses. The world of corporate purchasing can be frustrating for small entrepreneur’s who get requests for elaborate formal estimates and bids. Both consume valuable time and resources and a small cmpany’s efforts must soon result in orders, or both the morale and the financial health of the business will suffer.A second risk is that White-owned companies may-seek to cash inon the increasing apportion-ments through formation of joint ventures with minority-owned concerns, of course, in many instances there are legitimate reasons for joint ventures; clearly, white and minority enterprises can team up to acquire business that neither could Third, a minority enterprise that secures the business of one large corporate customer often runs the danger of becoming – and remaining dependent. Even in the best of circumstances, fierce competition from larger, more established companies makes it difficult for small concerns to broaden their customer bases; when such firms have nearly guaranteed orders from a single corporate benefactor, they may truly have to struggle against complacency arising from their current success.Q. The passage suggests that the failure of a large business to have its bids for subcontracts results quickly in order might cause it toa)experience frustrations but not serious financial harmb)face potentially crippling fixed expensesc)have to record its efforts on forms filed with the governmentd)increase its spending with minority subcontractorse)revise its procedure for making bids for federal contracts and subcontractsCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of PASSAGE:Recent years have brought minority-owned businesses in the United States unprecedented opportunities-as well as new and significant risks. Civil rights activists have long argued that one of the principal reasons why Blacks, Hispanics and the other minority groups have difficulty establishing themselves in business is that they lack access to the sizable orders and subcontracts that are generated by large companies. Now congress, in apparent agreement, has required by law that businesses awarded federal contracts of more than $500,000 do their best to find minority subcontractors and record their efforts to do so on forms field with the government. Indeed, some federal and local agencies have gone so far as to set specific percentage goals for apportioning parts of public works contracts to minority enterprises. Corporate response appears to have been substantial. Accoring to figures collected in 1977, the total of corporate contracts with minority business rose from $77 to $1. 1 billion in 1977. The projected total of corporate contracts with minority business for the early 1980’s is estimated to be over $3 billion per year with no letup anticipated in the next decade. Promising as it is for minority businesses, this increased patronage poses dangers for them, too. First, minority firms risk expanding too fast and overextending themselves financially, since most are small concerns and, unlike large businesses they often need to make substantial investments in new plants, staff, equipment, and the like in order to perform work subcontracted to them. If, there after, their subcontracts are for some reason reduced, such firms can face potentially crippling fixed expenses. The world of corporate purchasing can be frustrating for small entrepreneur’s who get requests for elaborate formal estimates and bids. Both consume valuable time and resources and a small cmpany’s efforts must soon result in orders, or both the morale and the financial health of the business will suffer.A second risk is that White-owned companies may-seek to cash inon the increasing apportion-ments through formation of joint ventures with minority-owned concerns, of course, in many instances there are legitimate reasons for joint ventures; clearly, white and minority enterprises can team up to acquire business that neither could Third, a minority enterprise that secures the business of one large corporate customer often runs the danger of becoming – and remaining dependent. Even in the best of circumstances, fierce competition from larger, more established companies makes it difficult for small concerns to broaden their customer bases; when such firms have nearly guaranteed orders from a single corporate benefactor, they may truly have to struggle against complacency arising from their current success.Q. The passage suggests that the failure of a large business to have its bids for subcontracts results quickly in order might cause it toa)experience frustrations but not serious financial harmb)face potentially crippling fixed expensesc)have to record its efforts on forms filed with the governmentd)increase its spending with minority subcontractorse)revise its procedure for making bids for federal contracts and subcontractsCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for PASSAGE:Recent years have brought minority-owned businesses in the United States unprecedented opportunities-as well as new and significant risks. Civil rights activists have long argued that one of the principal reasons why Blacks, Hispanics and the other minority groups have difficulty establishing themselves in business is that they lack access to the sizable orders and subcontracts that are generated by large companies. Now congress, in apparent agreement, has required by law that businesses awarded federal contracts of more than $500,000 do their best to find minority subcontractors and record their efforts to do so on forms field with the government. Indeed, some federal and local agencies have gone so far as to set specific percentage goals for apportioning parts of public works contracts to minority enterprises. Corporate response appears to have been substantial. Accoring to figures collected in 1977, the total of corporate contracts with minority business rose from $77 to $1. 1 billion in 1977. The projected total of corporate contracts with minority business for the early 1980’s is estimated to be over $3 billion per year with no letup anticipated in the next decade. Promising as it is for minority businesses, this increased patronage poses dangers for them, too. First, minority firms risk expanding too fast and overextending themselves financially, since most are small concerns and, unlike large businesses they often need to make substantial investments in new plants, staff, equipment, and the like in order to perform work subcontracted to them. If, there after, their subcontracts are for some reason reduced, such firms can face potentially crippling fixed expenses. The world of corporate purchasing can be frustrating for small entrepreneur’s who get requests for elaborate formal estimates and bids. Both consume valuable time and resources and a small cmpany’s efforts must soon result in orders, or both the morale and the financial health of the business will suffer.A second risk is that White-owned companies may-seek to cash inon the increasing apportion-ments through formation of joint ventures with minority-owned concerns, of course, in many instances there are legitimate reasons for joint ventures; clearly, white and minority enterprises can team up to acquire business that neither could Third, a minority enterprise that secures the business of one large corporate customer often runs the danger of becoming – and remaining dependent. Even in the best of circumstances, fierce competition from larger, more established companies makes it difficult for small concerns to broaden their customer bases; when such firms have nearly guaranteed orders from a single corporate benefactor, they may truly have to struggle against complacency arising from their current success.Q. The passage suggests that the failure of a large business to have its bids for subcontracts results quickly in order might cause it toa)experience frustrations but not serious financial harmb)face potentially crippling fixed expensesc)have to record its efforts on forms filed with the governmentd)increase its spending with minority subcontractorse)revise its procedure for making bids for federal contracts and subcontractsCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of PASSAGE:Recent years have brought minority-owned businesses in the United States unprecedented opportunities-as well as new and significant risks. Civil rights activists have long argued that one of the principal reasons why Blacks, Hispanics and the other minority groups have difficulty establishing themselves in business is that they lack access to the sizable orders and subcontracts that are generated by large companies. Now congress, in apparent agreement, has required by law that businesses awarded federal contracts of more than $500,000 do their best to find minority subcontractors and record their efforts to do so on forms field with the government. Indeed, some federal and local agencies have gone so far as to set specific percentage goals for apportioning parts of public works contracts to minority enterprises. Corporate response appears to have been substantial. Accoring to figures collected in 1977, the total of corporate contracts with minority business rose from $77 to $1. 1 billion in 1977. The projected total of corporate contracts with minority business for the early 1980’s is estimated to be over $3 billion per year with no letup anticipated in the next decade. Promising as it is for minority businesses, this increased patronage poses dangers for them, too. First, minority firms risk expanding too fast and overextending themselves financially, since most are small concerns and, unlike large businesses they often need to make substantial investments in new plants, staff, equipment, and the like in order to perform work subcontracted to them. If, there after, their subcontracts are for some reason reduced, such firms can face potentially crippling fixed expenses. The world of corporate purchasing can be frustrating for small entrepreneur’s who get requests for elaborate formal estimates and bids. Both consume valuable time and resources and a small cmpany’s efforts must soon result in orders, or both the morale and the financial health of the business will suffer.A second risk is that White-owned companies may-seek to cash inon the increasing apportion-ments through formation of joint ventures with minority-owned concerns, of course, in many instances there are legitimate reasons for joint ventures; clearly, white and minority enterprises can team up to acquire business that neither could Third, a minority enterprise that secures the business of one large corporate customer often runs the danger of becoming – and remaining dependent. Even in the best of circumstances, fierce competition from larger, more established companies makes it difficult for small concerns to broaden their customer bases; when such firms have nearly guaranteed orders from a single corporate benefactor, they may truly have to struggle against complacency arising from their current success.Q. The passage suggests that the failure of a large business to have its bids for subcontracts results quickly in order might cause it toa)experience frustrations but not serious financial harmb)face potentially crippling fixed expensesc)have to record its efforts on forms filed with the governmentd)increase its spending with minority subcontractorse)revise its procedure for making bids for federal contracts and subcontractsCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice PASSAGE:Recent years have brought minority-owned businesses in the United States unprecedented opportunities-as well as new and significant risks. Civil rights activists have long argued that one of the principal reasons why Blacks, Hispanics and the other minority groups have difficulty establishing themselves in business is that they lack access to the sizable orders and subcontracts that are generated by large companies. Now congress, in apparent agreement, has required by law that businesses awarded federal contracts of more than $500,000 do their best to find minority subcontractors and record their efforts to do so on forms field with the government. Indeed, some federal and local agencies have gone so far as to set specific percentage goals for apportioning parts of public works contracts to minority enterprises. Corporate response appears to have been substantial. Accoring to figures collected in 1977, the total of corporate contracts with minority business rose from $77 to $1. 1 billion in 1977. The projected total of corporate contracts with minority business for the early 1980’s is estimated to be over $3 billion per year with no letup anticipated in the next decade. Promising as it is for minority businesses, this increased patronage poses dangers for them, too. First, minority firms risk expanding too fast and overextending themselves financially, since most are small concerns and, unlike large businesses they often need to make substantial investments in new plants, staff, equipment, and the like in order to perform work subcontracted to them. If, there after, their subcontracts are for some reason reduced, such firms can face potentially crippling fixed expenses. The world of corporate purchasing can be frustrating for small entrepreneur’s who get requests for elaborate formal estimates and bids. Both consume valuable time and resources and a small cmpany’s efforts must soon result in orders, or both the morale and the financial health of the business will suffer.A second risk is that White-owned companies may-seek to cash inon the increasing apportion-ments through formation of joint ventures with minority-owned concerns, of course, in many instances there are legitimate reasons for joint ventures; clearly, white and minority enterprises can team up to acquire business that neither could Third, a minority enterprise that secures the business of one large corporate customer often runs the danger of becoming – and remaining dependent. Even in the best of circumstances, fierce competition from larger, more established companies makes it difficult for small concerns to broaden their customer bases; when such firms have nearly guaranteed orders from a single corporate benefactor, they may truly have to struggle against complacency arising from their current success.Q. The passage suggests that the failure of a large business to have its bids for subcontracts results quickly in order might cause it toa)experience frustrations but not serious financial harmb)face potentially crippling fixed expensesc)have to record its efforts on forms filed with the governmentd)increase its spending with minority subcontractorse)revise its procedure for making bids for federal contracts and subcontractsCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice GRE tests.