Entrepreneurship Quiz

Which of the following is NOT a notable South African entrepreneur?

• Ernest Oppenheimer

• Patrice Motsepe

• Jeff Bezos

• Herman Mashaba

What is the primary role of an entrepreneur?

• To manage a government institution

• To identify market opportunities and create businesses

• To work as an employee in a corporate job

• To regulate market competition

What is entrepreneurship?

• The process of copying successful business ideas

• The process of creating economic change through innovation

• A government-led economic policy

• A way of avoiding risks

Which of the following is NOT an important aspect of entrepreneurship?

• Identifying an opportunity

• Avoiding financial risks

• Innovation and creativity

• Managing the business

According to Nieman & Bennett, what is the first phase of the entrepreneurial process?

• Managing business growth

• Creating a business plan

• Identifying and evaluating an opportunity

• Expanding into new markets

Opportunity entrepreneurs are different from necessity entrepreneurs because they:

• Start businesses out of necessity

• Are usually innovative and market-driven

• Exhibit low levels of competition

• Have no interest in long-term growth

What is the main reason South Africa struggles to create new entrepreneurs?

• Over-regulation of businesses

• A lack of business experience, education, and entrepreneurial exposure

• An oversupply of skilled entrepreneurs

• Too much competition in small business sectors

Entrepreneurship is a solution to which of the following economic issues?

• High unemployment

• High crime rates

• Lack of access to education

• Poor infrastructure development

A small-scale entrepreneur is defined as someone who has:

• No economic independence

• 10 to 49 employees

• No formal business structure

• More than 100 employees

Which of the following best describes a subsistence entrepreneur?

• Operates within a temporary market stall

• Owns a company with multiple locations

• Focuses on exporting products internationally

• Runs a business with over 50 employees