Entrepreneurship Basics

What is entrepreneurship?

• The process of watching TV and playing video games.

• The activity of setting up a business or businesses, taking on financial risks in the hope of profit.

• The act of buying products for personal use.

• The process of studying hard to get good grades in school.

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

• Creativity

• Fear of taking risks

• Persistence

• Adaptability

Why is innovation important in entrepreneurship?

• It helps in making more friends.

• It is not important at all.

• It helps businesses to stay competitive and grow.

• It makes homework easier.

Which skill is essential for an entrepreneur?

• Ability to ignore customer feedback

• Skill in playing video games

• Ability to communicate effectively

• Ability to memorize facts quickly

What mindset is important for an entrepreneur to have?

• Fixed mindset

• Growth mindset

• Lazy mindset

• None of the above

Which of the following is a characteristic of a successful entrepreneur?

• Giving up easily

• Not willing to learn new things

• Being innovative

• Avoiding challenges

How can entrepreneurs benefit society?

• By creating jobs

• By watching TV all day

• By sleeping

• By not working

What does it mean to have an entrepreneurial mindset?

• Thinking like a consumer

• Thinking like an employee

• Thinking like an entrepreneur

• Thinking like a student

Which of the following is NOT an entrepreneurial skill?

• Time management

• Wasting money

• Problem-solving

• Leadership

Why is it important for entrepreneurs to be adaptable?

• Because it's fun to change things up.

• Because the business environment never changes.

• Because being adaptable allows them to respond effectively to challenges and opportunities.

• Because they need to adapt to their friends' opinions.