1.5.1

What is an entrepreneur?

• Someone who inherits a business

• Someone who creates and sets up a business

• A business employee

• A risk-averse person

What is a key role of an entrepreneur?

• Avoiding risks

• Managing existing businesses

• Organizing resources

• Filing taxes

Which of the following is an example of entrepreneurial risk?

• Securing a job

• Investing in a new market

• Saving money in a bank

• Hiring a consultant

What is intrapreneurship?

• Running a company alone

• Promoting entrepreneurship within a company

• Starting a new business

• Partnering with external firms

Which of the following can be a barrier to entrepreneurship?

• Access to finance

• Being innovative

• High profits

• Good leadership

What does entrepreneurial capacity refer to?

• Ability to sell

• Ability to take risks and identify opportunities

• Marketing expertise

• Managing employees

Entrepreneurs run and develop existing businesses by:

• Cutting employee wages

• Applying their unique entrepreneurial spirit

• Reducing risk

• Delegating all responsibilities

What does the term 'risk' refer to in business?

• Unknown outcomes

• A calculated decision

• Unavoidable loss

• Irresponsible action

Which of these factors typically causes uncertainty?

• Predictable consumer behavior

• Environmental disasters like tsunamis

• Stable markets

• Low competition

What is the difference between risk and uncertainty?

• Risk is unplanned; uncertainty is calculable

• Risk can be planned for; uncertainty is unpredictable

• Risk is more dangerous than uncertainty

• There is no difference