Entrepreneurship and Business Concepts

Front

According to Joseph Schumpeter’s theory of entrepreneurship, what drives economic growth?

Back

Creative destruction and continuous innovation

Front

What is the key difference between a Minimum Viable Product (MVP) and a Prototype?

Back

A prototype focuses on design and visualization, whereas an MVP includes essential features for market validation.

Front

Which of the following funding options is best suited for early-stage startups looking for initial investment?
Private equity,
Venture capital (Series B),
Angel investors,
Bootstrapping

Back

Angel investors

Front

Which of the following is NOT a factor in PESTLE analysis for identifying business opportunities? Political factors, Technological factors, Employee motivation factors, Legal factors

Back

Employee motivation factors

Front

What is the primary purpose of a Lean Canvas Model in entrepreneurship?

Back

To provide a one-page business model framework that focuses on key startup elements

Front

What is the primary goal of achieving Product/Market Fit?

Back

To ensure the product meets market demand

Front

Which of the following best defines an entrepreneur?

Back

To ensure the product satisfies strong market demand

Front

According to Sean Ellis’ test, what percentage of users should feel "very disappointed" if they could no longer use the product, indicating Product/Market Fit?

Back

40%

Front

What is the main difference between a Wizard of Oz MVP and a Concierge MVP?

Back

A Wizard of Oz MVP automates the front-end while the back-end is manually handled, whereas a Concierge MVP provides personalized services manually.

Front

Which of the following is NOT a funding source for early-stage startups? Angel Investors, Crowdfunding, Friends & Family

Back

Venture Capital (Series C)