Midterm Exam on Entrepreneurial Behavior 2nd 2024-2025

What is the best definition of entrepreneurship?

• Managing an existing company

• Working under someone else's business

• Creating and running a new business venture

• Investing in the stock market

Which of the following is a key trait of an entrepreneur?

• Dependence on others

• Fear of failure

• Risk-taking

• Avoidance of responsibility

Who among the following is best described as an entrepreneur?

• A teacher working in a public school

• A government employee

• A person starting a business with an innovative product

• A manager in a multinational company

The process of entrepreneurship begins with:

• Creating a budget

• Generating an idea or recognizing an opportunity

• Analyzing competition

• Hiring employees

Carla started a coffee shop that uses biodegradable cups and supports local farmers. What type of entrepreneurial mindset is she demonstrating?

• Risk aversion

• Social responsibility

• Profit-maximizing

• Authority compliance

Which of the following best explains the role of creativity in entrepreneurship?

• It is unnecessary when following traditional business methods

• It limits the risk of the venture

• It enables innovation in product or service development

• It decreases the need for planning

Analyze the situation: Marco failed in his first business but tried again with improvements. What trait did he demonstrate?

• Arrogance

• Laziness

• Resilience

• Pessimism

Which of the following combinations best describe interpersonal traits of successful entrepreneurs?

• Introversion and aloofness

• Communication and empathy

• Rigidity and aggressiveness

• Secrecy and independence

An entrepreneur who relies heavily on their network and community to grow their business is demonstrating:

• Poor leadership

• High social capital

• Dependence on others

• Lack of innovation

A student wants to start a business but doesn't know what type. What is the best first step?

• Borrow capital

• Develop a business name

• Identify a market need or problem

• Register a business with DTI