ENTREP LONG QUIZ

What is the primary role of an entrepreneur in the context of economic development?

• To maintain existing businesses without innovation

• To create new products and services that meet market needs

• To minimize risks and avoid uncertainties

• To focus solely on profit maximization

[TRUE OR FALSE]

According to Joseph Schumpeter, entrepreneurs are charged to introduce innovations in order to ensure competitiveness and economic progress.

• True

• False

Which of the following is not a characteristic of Entrepreneurship

• Ichigo starting a business that ensures profitability and wealth generation

• Orihime starting a business that people thinks to fall short in providing their needs

• Sado starting a business that ensures that it observes all correct practices

• Uryu starting a business that makes use of one's time with full commitment

Which of the following deviated from Schumpeter's ways for providing innovation to the business economic activity?

• Genryusai introduced a new product called Boba Ice Cream Sandwiches

• Retsu introduced the already practiced way of making ice cream

• Shunsui introduced an already new customer base for ice cream

• Jushiro introduced a new business partnering with local communities for boba production

Who among the following posits the idea that entrepreneurs are tasked to balance between taking risks and preparing for uncertainties brought about by these risks?

• Frank Knight

• Henry Lebenstein

• Israel Kirzner

• Alfred Marshall

Who among the following posits the idea that entrepreneurs are tasked to respond to market necessities by filling the gaps of the business environment by recognizing trends?

• Frank Knight

• Henry Lebenstein

• Israel Kirzner

• Alfred Marshall

Byakuya skillfully haggled for a lower price for his produce needed to make kimchi for his restaurant by buying in bulk and being a loyal customer. Which behavior does this ability fall into?

• Achieving

• Planning

• Power

Mayuri set some plans to ensure that the business will be kept afloat despite the rising prices of gold and silver jewelries. Which behavior does this ability fall into?

• Achieving

• Planning

• Power

Sajin thought of a new and innovative marketing campaign that will attract the younger generation to his antique shop. Which skill does this fall into?

• Cognitive

• Problem-Solving

• Interpersonal

• Technical

Kensei is adept in ensuring a smooth, efficient, and memorable dinner service for his gourmet restaurant. Which skill does this fall into?

• Cognitive

• Problem-Solving

• Interpersonal

• Technical