18 Questions
What is the main focus of the development process?
Formation of the business
In which stage of growth does selling occur only in limited markets?
Early growth stage
Which factor significantly hinders economic growth in the nation as discussed in the text?
Population explosion
What is one of the important determinants of slow growth in economic development as mentioned in the text?
Love for imported goods
Why does poverty hinder economic growth according to the text?
Because of unjust distribution of wealth
What occurs when management becomes structured in the late growth stage?
Skilled managers gradually take over
What is one way an entrepreneur contributes to socio-economic development?
Paying taxes
Which characteristic is essential for an entrepreneur according to the text?
Natural intelligence and decision-making skills
What is a key step in the decision-making process highlighted in the text?
Selecting the best alternative course of action
How does an entrepreneur contribute to capital base improvement, as mentioned in the text?
Improving the capital base directly
What is a characteristic of an entrepreneur related to their mindset and behavior?
Innovativeness and inward looking
Why is it important for an entrepreneur to gather correct data according to the text?
To formulate effective solutions to problems
What could be a driving force for an entrepreneur to make things happen?
Faith in god
What does 'crab mentality' refer to in the context of entrepreneurship?
Pulling down others who are trying to succeed
Which cultural habit is associated with procrastination in entrepreneurship?
Manana Habit
How does being constantly late impact entrepreneurship according to the text?
It hinders progress and growth
Why can spending savings on fiestas hinder economic growth, especially in rural areas?
It diverts money from more important business investments
What is a significant challenge mentioned in the text that hinders economic development in urban centers?
High unemployment rates
Test your knowledge on the process of developing a business, from formation to testing the market and growth stages. Identify key activities involved in each stage of business development.
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