Question 4 (10 points) A Small business is one that is independently owned and operated for profit and is not dominant in its field. Consider the elements and significance of small businesses in the table below and determine whether the statements are correct or incorrect. Write down the number of the statement followed by 'correct' or 'incorrect'. Correct/incorrect No. 1 Statement Small businesses: represent a large majority of all employer firms in most countries N Have generated more than 60 percent of net new jobs in many countries over the past 25 years 3 Hire a large majority of high-tech workers (scientists engineers, computer programmers, and others) in any given country Make up a large majority of all identified exporters but produce less than half of the export value in many countries 5 Produce fewer patents per employee than large patenting firms in any given time period