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1.2 Historical Origin of Entrepreneurship Quiz

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1.2 Historical Origin of Entrepreneurship Quiz

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Questions and Answers

What was the primary challenge in offering a specific definition of entrepreneurship?

Historical origin being unclear

Lack of availability of definitions

Existence of too many definitions (correct)

Complexity of the term

How was an entrepreneur defined in the 17th Century?

A risk taker

A capital provider

A contractual agreement holder with the government (correct)

A person managing large commercial projects

According to Richard Cantillon, what characteristic defines an entrepreneur?

Being a risk taker (correct)

Operating at a known price and selling at an unknown price

Managing large commercial projects

Providing capital

What distinguishes the entrepreneurial role from the capital-providing role?

Risk-taking behavior Signup and view all the answers

In what way did merchants in the 18th Century demonstrate risk-taking behavior?

Buying products at an unknown price Signup and view all the answers

How was an entrepreneur viewed in the late 19th and early 20th Century?

From economic perspectives Signup and view all the answers

What is entrepreneurship defined as in the provided text?

The art of identifying viable business opportunities Signup and view all the answers

How is entrepreneurship different from managing commercial projects?

By creating something different and better with value Signup and view all the answers

What is at the heart of the definition of an entrepreneur according to the text?

Innovation and newness Signup and view all the answers

How is the perception of the word 'entrepreneur' described to have evolved in the text?

From being an inventor to applying innovation in business ideas Signup and view all the answers