Entrepreneurship Quiz

What is the process of translating an idea or invention into a good or service that creates value or for which customers will pay?

• Concept

• Innovation

• Ownership

• Proprietorship

What is a business structure in which an individual and his/her company are considered as a single entity for tax and liability?

• Concept

• Innovation

• Ownership

• Proprietorship

What is a powerful businessman and especially formerly a foreigner living and operating in HongKong or China called?

• Concept

• Innovation

• Ownership

• Talpan

Why are entrepreneurs considered risk-takers?

• Because they see the market differently

• Because they prefer moderate risk

• Because they desire immediate feedback

• Because they have future orientation

What does an entrepreneur desire in terms of feedback?

• Moderate feedback

• Delayed feedback

• Immediate feedback

• No feedback

What is a characteristic of an entrepreneur who has a well-defined sense of searching for opportunities and looks ahead?

• Moderate risk preference

• Immediate feedback desire

• Future orientation

• Organizational skills

What skill does an entrepreneur need to position the right people to help their business and perform tasks effectively?

• Moderate risk preference

• Immediate feedback desire

• Future orientation

• Organizational skills

What is the primary motivating force in business?

• Moderate risk preference

• Immediate feedback desire

• Future orientation

• Value in own money

What is a characteristic of an entrepreneur who is committed to managing their business and overcoming obstacles?

• Moderate risk preference

• Immediate feedback desire

• Future orientation

• High degree of commitment

What is a characteristic of an entrepreneur who has the ability to adapt to changing demands?

• Moderate risk preference

• Immediate feedback desire

• Future orientation

• Flexibility