[Wk:10 sem:1] Entrepreneurship

6) According to the textbook, entrepreneurs are ________.

• A) gamblers

• B) moderate risk takers

• C) aggressive risk takers

• E) minimal risk takers

3) Stacey Wills, who is at heart a craftsperson, recently started a firm to manufacture a new innovative food blender. Stacey's desire is to sell her food blender to as many people as possible because she firmly believes in the merits of her product. Stacey's story best illustrates which of the following characteristics, or attributes, of a successful entrepreneur?

• A) Product/customer focus

• B) Execution intelligence

• C) Tenacity despite failure

• E) A desire to gain financial rewards

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

The internet is a great tool for starting and running a business.

• True

• False

The process of identifying an opportunity then setting up and running a business to address that opportunity.

• Entrepreneurship

• Responsibility

What is an entrepreneur?

• A person who is in charge of a specific location.
• A person who works for someone else in order to learn skills.
• A person who organizes and operates a business or businesses.
• None of these

An entrepreneur is someone who works for themselves.

• True
• False

ALL entrepreneurs have a college degree.

• True
• False