INTRO TO ENTREPRENEURSHIP

6) According to the textbook, entrepreneurs are ________.

• A) gamblers

• B) moderate risk takers

• C) aggressive risk takers

• E) minimal risk takers

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.

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

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

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