Entrepreneurship Quiz 1 (Week 1 to 5)

_________ is any business that is independently owned and operated but is not dominant in its field and does not engage in any new marketing or innovative practices.

• A company

• A close corporation

• An entrepreneurial enterprise

• A small business

Entrepreneurial orientation is determined by personal orientation, culture, _________, family and work experience.

• friends

• talent

• education

• knowledge

The __________ are the focus of the entrepreneur, and products and/or services are developed and adapted to meet their needs.

• suppliers

• customers

• partners

• shareholders

Successful entrepreneurs are prepared to take _________ risks and evaluate innovation and risk critically.

• high

• moderate

• calculated

• low

The evaluation of business ideas is done through a _________ and a _________.

• financial advisor; consultant

• consultant; feasibility study

• feasibility study; viability study

• financial analysis; marketing plan

An entrepreneur with no economic independence and little involvement with other entrepreneurs can be seen as being a:

• subsistence entrepreneur

• basic survivalist

• pre-entrepreneur

• micro-entrepreneur

Those factors that encourage entrepreneurship due to traditional jobs being less attractive can be called

• grab factors

• push factors

• pull factors

• push and pull factors

The following is a pull factor of entrepreneurship:

• Limitations of financial rewards.

• Personal wealth and independence.

• Job insecurity.

• All of the above

One of the main reasons entrepreneurial ventures fail in South Africa is because of the lack of

• access to labour

• access to finance

• access to labour and finance

• access to land

As one of the four types of women entrepreneurs, Radical women business owners are

• usually home-based-business owners.

• ambitious and their businesses have high priority.

• motivated to start a business due to economic pressure at home.

• usually young, without children and well educated with limited work experience.