Unit 1 Introduction

Which of these statements best describes the context for entrepreneurship?

• Relying on luck and chance for success
• Avoiding risks and sticking to a stable job
• Creating value through innovation and business ventures

• Following the traditional career path and working for established companies

What type of entrepreneurial business actually produce the products they sell?

• Manufacturing

• Retailing

• Whole-selling

• Service

..................................... is one who prefers to follows the traditional methods of production and approach to the market.

• Imitative Entrepreneur

• Innovative Entrepreneur

• Fabian Entrepreneur

• Drone Entrepreneur

Which is NOT a common characteristic of an entrepreneur?

• risk-taker
• creative
• organized
• irresponsible

Person who works within an organization and having entrepreneurial capabilities is:

• A superpreneur
• An intrapreneur
• An extrapreneur
• A subpreneur

According to Schumpeter, ____ is the most important function of a modern entrepreneur.

• Risk aversion
• Imitation
• Stagnation
• Innovation

According to ____ the inner urge motivates a person to do something new and directs him towards fulfilment of his needs.

• B. C Tandon

• David Ricardo

• David McClelland

• K. L. Sharma

The word entrepreneur derived from

• Italian
• German
• Spanish
• French

An Entrepreneur Who Has No Prior Business Ownership Experience

• Inexperienced entrepreneur
• Novice entrepreneur
• Veteran entrepreneur
• Amateur entrepreneur

Enterprendre means

• Undertake
• Neglect
• Abandon
• Overlook