The Role of the Entrepreneur

A society is prosperous only to the degree to which it rewards and encourages entrepreneurial activity.

• True

• False

The most dynamic societies in the world are the ones that have the most entrepreneurs and the structure to encourage and motivate entrepreneurs.

• True

• False

Entrepreneurs are not optimistic and future oriented.

• True

• False

To be a successful entrepreneur, you do not have to be skilled at selling against the competition.

• True

• False

Entrepreneurs are unique because they’re capable of bringing together the money, raw materials, manufacturing facilities, skilled labor and land or buildings required to produce a product and a service.

• True

• False

What is disequilibrium?

• a gap between the wants and needs of customers and the services that are currently available.

• a gap between the wants and needs of customers and the products and services that are currently available.

• a gap between the wants and needs of customers and the products that are currently available.

• a state in which opposing forces or influences are balanced.

Entrepreneurs invest only their money when businesses are started.

• True

• False

Entrepreneurs arrange the marketing, sales, and distribution of that product or service.

• True

• False

Entrepreneurs bring together the factors of economies necessary to produce, offer, and sell desired products and services.

• True

• False

Entrepreneurs are considered....

• the least important people in the economy

• the most important people in the economy

• important but not as important as consumers

• lower class citizens