Entrepreneurship1

Which of the following BEST describes an entrepreneur?

• has a strong desire to achieve and is innovative

• recognizes opportunities but sacrifices them

• has the urge to keep a product in the existing market

• has a strong desire for money but does not go after it

Which of the following statements is NOT a myth associated with entrepreneurs?

• entrepreneurs are bold

• all entrepreneurs are rich

• entrepreneurs generate ideas

• entrepreneurs are born, not made

"Creative destruction is the process whereby products, processes, ideas and businesses are replaced with better ones." Which of the following theorists made this proposition?

• Peter Drucker

• Jean Baptiste Say

• Richard Cantillon

• Joseph Schumpeter

Which of the following is central to the concept of entrepreneurship?

• financing

• stabilization

• manufacturing

• innovation

Entrepreneurship involves the management of

• processes, people and growth

• global economies, people and growth

• global economies, processes and growth

• people, processes and regional economies

Which of the following is a driving force behind contemporary entrepreneurship?

• Globalization

• Demographic stability

• Stagnation in innovation

• Decreasing consumption

Which of the following does NOT encourage entrepreneurship?

• Information revolution

• Changing demographics

• Technological advances

• Government bureaucracy

Which of the following is a KEY characteristic for a successful entrepreneur?

• ability to work hard

• technical skills

• access to personal money

• eye for an opportunity

An individual who is in the process of starting a new venture for the first time is described as a

• novice entrepreneur

• serial entrepreneur

• nascent entrepreneur

• habitual entrepreneur

Which of the following factors distinguishes an entrepreneur from a traditional small business owner?

• wealth

• ability to innovate

• number of start-ups

• employment status