Entrepreneurship Quiz

The following are different definitions of entrepreneurship. Which one is correct? (2marks)

• This a person who has the ability to identify and evaluate business opportunities, gathers the necessary resources, starts a business and takes risks with an aim of making profits.

• This is a person who introduces new idea, product and services within an existing business.

• Refers to the process of identifying business opportunities and utilize the available resources in the environment.

• The amount of funding required to implement a business opportunity may influence one's choice of a business idea. Most people will choose opportunities that do not involve a lot of funding in relation to profits.

Fill in the empty spaces the appropriate entrepreneurship terms. (4marks)

• Innovation

• Invention

• Creativity

• Entrepreneur

State any four differences between manager and entrepreneur in the business. (4marks)

Choose the correct answer among four alternatives: (4marks)

The following are the types of innovation, spot the odd man out. (1mark)

• Radical innovation

• Vertical innovation

• Lateral innovation

• Service innovation

The following are the types of creativity, spot the odd man out. (1mark)

• Convergent creativity

• Divergent creativity

• Systems creativity

• Building creativity

The following are the entrepreneurship processes, spot the odd man out.

• Idea generation

• Concept development

• Resourcing

• Decision making

• Actualisation

The following are the qualities of Entrepreneur, spot the odd man out

• Risk taking

• Hardworking

• Making noise

• Planning

An individual who starts, creates and manages a new business can be called………

• A leader

• A manager

• A professional

• An entrepreneur

People who own, operate, and take risk of a business venture……………..

• Aptitude

• Employee

• Entrepreneur

• Entrepreneurship