Entrepreneurship Quiz

What is an entrepreneur?

• A person who takes risks to create, organize, and own a business

• A person who works for someone else

• A person who invests in the stock market

• A person who studies business management

Which of the following is a personal characteristic of successful entrepreneurs?

• Laziness

• Dependence on others

• Persistence

• Fear of taking risks

What is the first stage of the entrepreneurial process?

• Concept Development

• Resourcing

• Actualization

• Discovery

What does the concept development stage involve?

• Operating the business and utilizing resources to achieve goals

• Identifying and acquiring financial, human, and capital resources

• Preparing a detailed business plan and choosing a location

• Deciding on the venture's future growth, development, or closure

Which of the following is a resource that entrepreneurs need to identify and acquire?

• Patents or trademarks

• Responsibility and inquisitiveness

• Persistence and creativity

• Financial success and goal-orientation

What is the final stage of the entrepreneurial process?

• Concept Development

• Resourcing

• Actualization

• Harvesting

What does the harvesting stage involve?

• Operating the business and utilizing resources to achieve goals

• Identifying and acquiring financial, human, and capital resources

• Preparing a detailed business plan and choosing a location

• Deciding on the venture's future growth, development, or closure

Which of the following traits contribute to the ability to navigate the challenges of entrepreneurship?

• Independence and self-confidence

• Inquisitiveness and goal-orientation

• Responsibility and creativity

• Persistence and willingness to take risks

What is the willingness to undertake financial risks in the hope of achieving financial success through business ventures called?

• Persistence

• Creativity

• Responsibility

• Entrepreneurship

Which of the following is NOT a personal characteristic of successful entrepreneurs?

• Inquisitiveness

• Goal-orientation

• Laziness

• Self-confidence