Entrepreneurship

Front

How many salient features does entrepreneurship have?

Back

5

Front

The theory that Frank Hyneman Knight theorized about entrepreneurship.

Back

Risk and Uncertain - bearing Theory

Front

Who theorized that social cultures have significant contributions to entrepreneurship?

Back

Max Weber

Front

Who proposed that there are four factors of production?

Back

Alfred Marshal

Front

This theory gives importance to the advancement of technology as an element of production.

Back

Kaldor's Technological Theory

Front

Wesley has come up with an improvement for his packaging with his product. That is cost-efficient and environmentally friendly. Options: Keynesian Theory & Leibenstein's Gap - Filling Theory, Innovation Theory & Weber's Sociological Theory, Kaldor's Technological Theory & Alfred Marshal Theory, Risk and Uncertain - Bearing Theory & Kirzner's Learning - Alertness Theory

Back

Innovation Theory & Weber's Sociological Theory

Front

What is the primary objective of any business endeavor?

Back

Profit is not the primary objective.

Answer explanation

False.

It is the maximization

of the interest of the

entrepreneur. It is wealth

accumulation.

Front

Increase in the level of wealth of the entrepreneur means improvement in his/her economic status.

Back

True

Front

Entrepreneurs find ways to avoid business risk.

Back

False

Answer explanation

False.

Entrepreneurs face

business risks but finds ways

on how to reduce them.

Front

Is everybody a potential customer of a business venture?

Back

False

Answer explanation

False.

Not all can be

customers of the business

venture. The business has to

select its target customers.