1.2 Entrepreneurship Quiz

What is the definition of innovation?

• Risk-taking

• the process of creating a new or significantly improved good, service or process (way of doing something)

• Seeking growth

• taking on the risk of the venture in the hope of making a profit.

Which famous entrepreneur is known for being the founder and CEO of SpaceX and CEO of Tesla?

• Elon Musk

• Mark Zuckerberg

• Gina Rinehart

• Daniel Ek

What are three significant ideas implicit in the definition of entrepreneurship?

• Cost reduction

• Pursuing opportunities

• Seeking growth

• Innovation

What is a key part of being an entrepreneur?

• Stability

• Caution

• Innovation

• Risk aversion

Which entrepreneur is associated with the successful online social media and social networking service Facebook?

• Daniel Ek

• Elon Musk

• Mark Zuckerberg

• Gina Rinehart

What does it mean to have a vision?

• have an understanding or hope of what the business will be like in the future

• To see

• To have a plan

• focusing effort on growing capital

Which entrepreneur is known for being the richest person in Australia and the Executive Chairman of the Hancock Prospecting Group?

• Daniel Ek

• Gina Rinehart

• Mark Zuckerberg

• Elon Musk

What is a key feature of entrepreneurship according to the text?

• Pursuing business opportunities

• Avoiding risk

• Seeking growth

• Innovation

What is the definition of entrepreneur?

• An entrepreneur converts these opportunities into manageable business ideas and makes the idea a reality.

• • Entrepreneurship is the process whereby a person creates and operates a new business, in response to opportunities, while taking on the risk of the venture in the hope of making a profit.

• pursuing sources of business opportunities, such as gaps in the market that no-one else has noticed or paid attention to.

• Entrepreneurs blend their flair, imagination and creativity to develop new products or ways of doing business, or improve existing products or processes.

Which entrepreneur is known for being one of the founders of Spotify, the music streaming service?

• Gina Rinehart

• Mark Zuckerberg

• Elon Musk

• Daniel Ek