ENT 300: ENTREPRENEURSHIP QUIZ: SEM MARCH 2024

Carl Menger (1871) define the entrepreneur acts as an economic agent who transforms resources into products and services.

• True

• False

Risk-taking propensity is a trait commonly associated with entrepreneurs.

• True

• False

Assertiveness is an entrepreneur confronts problems and issues with others indirectly.

• True

• False

Creativity is the ability to generate novel and useful ideas, while innovation involves implementing those ideas to create value.

• True

• False

Creative process involves looking with similar perspectives on unique relationships of the surroundings.

• True

• False

SWOT analysis is a tool commonly used by entrepreneurs to assess the strengths, weaknesses, opportunities, and threats associated with a business venture.  

• True

• False

Opportunity recognition is solely based on luck and cannot be systematically developed or enhanced.

• True

• False

One of the advantages of starting from scratch is entrepreneurs are free to develop business image and personality that suits their desire and interest.

• True

• False

One of the advantages of buying an existing business is entrepreneurs have to respect and abide the agreements that have been made by the previous owner with related parties.

• True

• False

Business support system refers to the assistance and services given by the government or private agencies to help entrepreneurs to start a new business or to develop an existing one.

• True

• False