Entrepreneurship

Who is an entrepreneur?

• An individual working a 9-to-5 job

• A person who starts and manages a business while taking risks

• A government official managing policies

• An employee following company rules

What is a business opportunity?

• A guaranteed way to make money without effort

• A gap in the market that can be solved with an innovative product or service

• A random idea with no potential customers

• A financial scheme with no risks involved

What is innovation in business?

• Repeating existing business models without changes

• The process of creating new ideas, products, or services to improve efficiency and competitiveness

• Avoiding new technologies to reduce costs

• Copying competitors' ideas without modifications

Why is risk-taking important for entrepreneurs?

• It ensures success with no challenges

• It helps them achieve business growth and profitability despite uncertainties

• Entrepreneurs never face risks

• Risk-taking leads to immediate wealth

What does profitability mean in business?

• The ability of a business to generate more revenue than expenses

• A company that only focuses on expansion without making money

• A business that operates without considering costs

• A short-term strategy for startups only

How does entrepreneurship contribute to job creation?

• By encouraging more people to remain unemployed

• By generating employment opportunities through new businesses

• By making it harder for people to find work

• By only focusing on automated jobs

What is the primary income source in traditional employment?

• Business profits

• Fixed salary or hourly wage

• Stock market investments

• Commission-based earnings

How does an entrepreneur earn money?

• By receiving a fixed monthly salary

• By earning business profits based on sales and market success

• By relying on government grants

• By working under a company’s fixed pay structure

What is capital in entrepreneurship?

• The profits a business makes in its first year

• Financial resources like loans, investments, and savings needed to start and grow a business

• Only the money an entrepreneur personally saves

• The number of employees in a business

What is a business plan?

• A casual idea for a business without structure

• A strategic document outlining goals, operations, financial projections, and growth strategies

• A plan that only focuses on daily operations

• A document only needed for large corporations