What does the Keynesian theory suggest the government should do during an economic depression

Pour more money into the economy

What is the key difference between risk and uncertainty

Risk is measurable while uncertainty is unmeasurable

Risk is unmeasurable while uncertainty is measurable

Risk is avoidable while uncertainty is not

Risk involves suppliers while uncertainty involves markets

Which theory stresses that culture is the primary driving element of entrepreneurship

Leibenstein's gap-filling theory

Kirzner's learning-alertness theory

Which theory points out spontaneous learning and alertness as major attributes of entrepreneurship

Kirzner's learning-alertness theory

Leibenstein's gap-filling theory

What must an entrepreneur be alert in recognizing

Entrepreneurial opportunities and consumer ignorance

What is the main distinction between entrepreneurship and ordinary small business

The descriptive word 'ordinary'

What is an entrepreneur's motive in opening a business

Based on entrepreneurial concepts and aspiration for success

Primarily as a source of livelihood

What is the primary goal of an ordinary small business owner

To make it a source of livelihood

To innovate and disrupt the market

How does an entrepreneur perceive risk

As inherent and finds ways to minimize it

As something only the government should handle

How does an ordinary small business owner perceive risk

As a deterrent that must be avoided

As a healthy sign for the economy

As something to take on squarely

How does an entrepreneur react to changes in the environment

Positively seeing new opportunities

Negatively seeing them as a threat

How does an ordinary small business owner react to changes

Sees them as a creative mechanism

Anticipates them with alternative plans

What is an entrepreneur's view on competition

As a sign of a healthy economic environment

As an unhealthy element to be avoided

As something to strongly discourage

As a source of negative consequences

What is an ordinary small business owner's view on competition

As an unhealthy element to be avoided

How does an entrepreneur view development and growth

Outlines short medium and long-term plans

Is satisfied with the status quo

How does an ordinary small business owner view development

Aligns daily activities to plans

What is an entrepreneur's horizon of business operation

Global perspective acting locally

Centered only on the local environment

Only focused on the local market

What is an ordinary small business owner's business horizon

Centered only on the local environment

Plans for international competition

How does an entrepreneur source business funds

Explores both internal and external resources

Limits funding to personal resources only

Fears loans from external sources

Believes the venture is not worth external funding

How does an ordinary small business owner source funds

Tends to limit funding to personal resources

Explores all external resources

Sees external loans as an opportunity

Believes the venture can create great wealth

What is a common misconception about the type of business in entrepreneurship

It applies only to manufacturing businesses

It applies to service businesses

It applies to merchandising businesses

It applies to all types of businesses

What is the reality about the type of business in entrepreneurship

It applies to merchandising service and manufacturing

It applies only to manufacturing

It applies only to merchandising

What is a common misconception about the size of the business

It applies only to small businesses

It applies to medium businesses

It applies to all sizes of businesses

What is the reality about the size of the business in entrepreneurship

It applies to small medium and big businesses

It applies only to small businesses

It applies only to medium businesses

It applies only to big businesses

What is corporate entrepreneurship

A process inside an existing venture

Only applicable to manufacturing

Avoiding all risks in a corporation

What is a misconception about the background of entrepreneurs

They need a good educational background in business

They come from all walks of life

They have different educational backgrounds

Their inner driving force matters most

What is the reality about the background of successful entrepreneurs

They come from all walks of life

They must have a business degree

They only come from wealthy families

They must be born an entrepreneur

What truly makes a dynamic entrepreneur

A good educational background in business

What is a misconception about the economy and entrepreneurship

It applies only to a good economy

It applies in distressed economies

It applies in both good and bad economies

Opportunities can be found in a crisis

What is the reality about the economy and entrepreneurship

It finds opportunities in both flourishing and distressed economies

It applies only to a good economy

It applies only to a bad economy

It cannot exist in a financial crisis

What can a bad economy be a source of

New ideas and business opportunities

Q2 ENTREP 11 GENERAL QUIZ

Authored by John Dipon

Business

11th Grade

Used 1+ times

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95 questions

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MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a generalization that explains a set of facts or phenomena but is not an absolute truth

A fact

A theory

A principle

A law

Answer explanation

A theory is a generalization that explains facts or phenomena not an absolute truth

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Who was the proponent of the Innovation Theory

John Maynard Keynes

Joseph Schumpeter

Alfred Marshall

Frank Knight

Answer explanation

Joseph Schumpeter contributed the Innovation Theory on entrepreneurship

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What concept describes economic development as a product of structural change or innovation

Keynesian Theory

Innovation Theory

Sociological Theory

Technological Theory

Answer explanation

The Innovation Theory regards economic development as the product of structural change or innovation

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What term did Schumpeter use for the process where innovation destroys a static economy

Creative Destruction

Market Equilibrium

Economic Depression

Supply and Demand

Answer explanation

Innovation causes the creative destruction of the static mode of the economy

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT a form of innovation introduced by an entrepreneur

New product

New production method

Maintaining status quo

New market

Answer explanation

Maintaining the status quo is the opposite of innovation which propels change

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What theory emphasizes the government's role in economic development during a depression

Innovation Theory

Alfred Marshall Theory

Keynesian Theory

Gap-Filling Theory

Answer explanation

The Keynesian Theory emphasizes the role of the government in entrepreneurial development during depression

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Who developed the Keynesian Theory on entrepreneurship

Joseph Schumpeter

Alfred Marshall

Frank Knight

John Maynard Keynes

Answer explanation

John Maynard Keynes developed the Keynesian Theory

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Q2 ENTREP 11 GENERAL QUIZ

What is a generalization that explains a set of facts or phenomena but is not an absolute truth

A theory is a generalization that explains facts or phenomena not an absolute truth

Who was the proponent of the Innovation Theory

Joseph Schumpeter contributed the Innovation Theory on entrepreneurship

What concept describes economic development as a product of structural change or innovation

The Innovation Theory regards economic development as the product of structural change or innovation

What term did Schumpeter use for the process where innovation destroys a static economy

Innovation causes the creative destruction of the static mode of the economy

Which of the following is NOT a form of innovation introduced by an entrepreneur

Maintaining the status quo is the opposite of innovation which propels change

What theory emphasizes the government's role in economic development during a depression

The Keynesian Theory emphasizes the role of the government in entrepreneurial development during depression

Who developed the Keynesian Theory on entrepreneurship

John Maynard Keynes developed the Keynesian Theory

What does the Keynesian theory suggest the government should do during an economic depression

The government must make a strong intervention by pouring more money into the economy

Who identified four factors of production including organization

Alfred Marshall asserted that there are four factors in production land labor capital and organization

Which factor of production did Alfred Marshall consider the coordinating element

Marshall considered organization as the coordinating element of production

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