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THC10 Entrepreneurship Quiz #1

Authored by RICHEL PITOGO

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THC10 Entrepreneurship Quiz #1
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economist emphasized the role of innovation in entrepreneurship as carrying out "new combinations"?

Richard Cantillon

Frank H. Knight

Joseph A. Schumpteter

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is innovation considered a crucial aspect of entrepreneurship?

Because it reduces financial risks

Because if increases the number of competitors

Because it allws for the creation of new products and processes

Because it guaranteees immediate profits

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can entrepreneur distinguish between risk, ambiguity, and true uncertainty in their business decisions?

By relying solely on statistical data

By understanding that risk is measurable statistically, ambiguity is hard to meausre statistically and true uncertainty is impossible to estimate.

By acoiding any decisions involving uncertainty.

By seeking expert opinions without considering the nature of uncertainty.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it crucial for an entrepreneur to develop a comprehensive business plan after identifying a business opportunity?

To increase the complexity of the business idea

To discourage employees from participating in the decion-making process

To have a benchmark and evaluation criteria for the venture

To avoid seeking inputs from others.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is the step of resourcing important in the entrepreneurial process?

To discourage financial investment

To eliminate the need for human resources

To identify sources for financing and acquiring human resources

To bypass the need for financing and personnel

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do innovative entrepreneurs differ from imitating entrepreneurs in their approach to entrepreneurship?

Innovative Entreprenurs never take risks

Imitating entreprenerus are industry leaders

Innovative entrepreneurs invent new ideas and products

Imitating entrepreneurs create entirely new markets

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How would you characterize Fabian Entepreneurs based on their attitude toward innovation?

They are pinoeers in inventing new technologies

They immediately embrace and implement any new innovation

They are cautious and wait for innovations to prove themselves

They imitate other entrepreneurs innovations without hesittaion

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