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16 Questions

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Business and Innovation Terminology

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Questions and Answers

What did Marco Polo want to establish according to the information provided?

New trade routes to connect the Mediterranean with Africa.

A non-profit organization for cultural exchange.

Trade routes to the Far East. (correct)

A charitable foundation for merchant travelers.

What does the term 'entrepreneurship' mean based on the given text?

The process of creating something new without assuming any financial, psychic, or social risks.

The purposeful activity of an individual or a group to initiate profit by distribution of economic goods and services. (correct)

The art of turning an idea into a non-profit organization.

The process by which individuals pursue opportunities with full control of the necessary resources.

Who is credited with describing entrepreneurship as 'the process of creating something new with the value of devoting the necessary time and effort'?

Stevenson & Jarillo

A. H. Cole

Joseph A. Schumpeter

Fred Wilson (correct)

Who or what is described as a 'go-between' (agent) in the text?

Marco Polo Signup and view all the answers

According to Joseph A. Schumpeter, who does entrepreneurship include?

Both company directors and managers carrying out innovative functions Signup and view all the answers

What role did merchants and travelers play in trading during the Middle Ages?

Both merchants and travelers had an active role in trading at all risks Signup and view all the answers

Which term in Filipino is closest in meaning to the Sanskrit term 'undertake'?

Pagnenegosyo Signup and view all the answers

During the 18th century, what distinguished entrepreneurs from capital providers?

Their need for money or capital Signup and view all the answers

What contribution did Thomas Edison make during the industrial revolution?

He was an inventor financially incapable to provide on his own Signup and view all the answers

Who were the usual entrepreneurs during the Middle Ages?

Priests and clerics Signup and view all the answers

During the 19th and 20th centuries, how were entrepreneurs primarily viewed?

As managers from an economic perspective Signup and view all the answers

Who is credited with establishing the American Steel company?

Andrew Carnegie Signup and view all the answers

What event led to the Philippines realizing the importance of entrepreneurship?

Colonization by Spain, United States, and Japan Signup and view all the answers

What did the Philippines implement in 1935 in relation to entrepreneurship?

Small Medium Enterprises (SMEs) Signup and view all the answers

In the 1970s, what sector was given emphasis in the Philippine Development Plan?

'Small Medium Enterprises (SMEs)' Signup and view all the answers

'R.A. 7882' was related to providing assistance to which group?

'The Act Providing Assistance to Women' Signup and view all the answers