Myths of Entrepreneurship Special class XI

5) Which of the following is NOT one of the five common myths about entrepreneurs?

• A) Entrepreneurs are tenacious.

• B) Entrepreneurs are moderate risk takers.

• C) Entrepreneurs should be young and energetic.

• D) Entrepreneurs love the spotlight.

9) Entrepreneurial firms ________.

• A) are small firms that yield a level of income for their owner(s) that is similar to what they would earn when working for an employer

• B) bring to market new products and services that are not particularly innovative

• D) provide their owner(s) the opportunity to pursue a particular lifestyle and earn a living while doing so

• E) bring new products and services to market by creating and seizing opportunities

13) ________ is the process of creating something new, which is central to the entrepreneurial process.

• A) Modernism

• B) Innovation

• C) Execution

• D) Creativity

8) The three primary reasons that people become entrepreneurs and start their own firms are to ________.

• A) gain prestige, realize financial rewards, and eliminate risk in their lives

• B) do what they were "born" to do, be their own boss, and gain prestige

• C) take big risks, be their own boss, and do what they were "born" to do

• D) be their own boss, pursue their own ideas, and pursue financial rewards

Which of the following is NOT a core characteristic of most entrepreneurs?

• Risk-taker

• Selfish

• Confident

• Independent

Entrepreneurs create ____________________ for themselves and others.

• wealth

• risk

• plans

• none of these