Understanding Entrepreneurship Basics

What is the primary goal of an entrepreneur?

• To work for a large corporation

• To start and run their own business

• To become an employee

• To avoid taking risks

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

• Avoiding challenges

• Being risk-averse

• Having a strong work ethic

• Preferring routine tasks

What is meant by the term "market research"?

• Selling products in a market

• Studying competitors and customer needs

• Researching stock market trends

• Analysing weather patterns

Which of the following is a benefit of being an entrepreneur?

• Guaranteed income

• Fixed working hours

• Independence and flexibility

• No responsibility

What is a "start-up"?

• A large, established company

• A new business venture

• A type of government agency

• A non-profit organisation

Which of the following is a key skill for entrepreneurs?

• Inability to adapt

• Strong communication skills

• Disinterest in learning

• Preference for routine

What does "innovation" mean in the context of entrepreneurship?

• Copying existing products

• Introducing new ideas or methods

• Avoiding change

• Following traditional practices

Which of the following is an example of a successful entrepreneur?

• A person who never takes risks

• A person who starts a business and grows it successfully

• A person who only works for others

• A person who avoids challenges