Entrepreneurship Quiz

Which of the following is NOT a key characteristic of a successful entrepreneur?

• Risk-taking

• Creativity

• Complacency

• Resilience

An entrepreneur who starts a business to pursue a personal passion rather than purely for financial gain is primarily driven by:

• Profit maximization

• Ethical considerations

• Non-financial motives

• Cost efficiency

Which of the following is an example of an intrinsic motive for entrepreneurship?

• Earning a high income

• Gaining recognition from others

• Achieving personal satisfaction

• Expanding the business internationally

Which of the following best describes an entrepreneur?

• Someone who works for a company

• Someone who creates and manages a business, taking financial risks

• Someone who invests in other businesses but does not manage them

• Someone who only works for social enterprises

What is the primary difference between an entrepreneur and an intrapreneur?

• An entrepreneur takes financial risks, whereas an intrapreneur innovates within an organization

• An intrapreneur runs a business, whereas an entrepreneur works in a company

• An entrepreneur focuses only on social enterprises, whereas an intrapreneur does not

• There is no difference between them

Entrepreneurs who start businesses mainly to make a positive social impact are known as:

• Lifestyle entrepreneurs

• Social entrepreneurs

• Corporate entrepreneurs

• Serial entrepreneurs

What does the term 'profit satisficing' mean in relation to entrepreneurial motives?

• Earning the maximum possible profit

• Earning just enough profit to maintain a desired lifestyle

• Reducing prices to attract more customers

• Maximizing shareholder value

Which of the following is a key financial motive for entrepreneurship?

• Job satisfaction

• Control over decision-making

• Profit maximization

• Personal growth

Which of the following characteristics is MOST associated with a successful entrepreneur?

• Risk aversion

• Adaptability

• Overconfidence

• Resistance to change

Why is resilience important for an entrepreneur?

• It helps them avoid making risky decisions

• It allows them to stay motivated and recover from failures

• It ensures they never face financial losses

• It guarantees success in all business ventures