Entrepreneurship Unit 2 and 3 Test

What typically initiates the entrepreneurial process?

• Hiring employees

• Raising capital

• Identifying an opportunity

• Creating a business plan

Which of the following best describes the gig economy?

• Permanent employment with benefits

• Freelance, flexible jobs often connected via technology

• Government-funded job programs

• Traditional 9-to-5 jobs

What industry did Uber disrupt?

• Airline

• Taxi

• Hotel

• Retail

Which of the following is NOT typically associated with solopreneurs?

• A. Running the business alone

• B. Using web-based tools

• C. Hiring a large team

• D. Operating from home or coffee shops

Which trend emphasizes starting small rather than launching a large company immediately?

• Revenue-focused

• Think Small

• Marketing Tech Tools

• Gig Economy

Which of the following is a benefit of using technology in entrepreneurship?

• Increased tax rates

• Higher startup costs

• Quick and inexpensive business setup

According to Steve Jobs, what is essential for enduring the challenges of entrepreneurship?

• Money

• Passion

• Experience

• Connections

Which of the following is a myth about entrepreneurship?

• A. Entrepreneurs must be gamblers

• B. Entrepreneurs can learn skills

• C. Entrepreneurs often bootstrap

• D. Entrepreneurs come from diverse backgrounds

What is a common barrier to entrepreneurial success?

• Too much free time

• Lack of passion

• Excessive funding

• Low competition

What does 'bootstrapping' refer to in entrepreneurship?

• Hiring a large team

• Starting a business with minimal resources

• Getting venture capital

• Avoiding competition