Podcast
Questions and Answers
Why is entrepreneurship considered an art and not a science?
Why is entrepreneurship considered an art and not a science?
- Because it is constantly changing and innovative (correct)
- Because it remains static and stagnant
- Because it is limited by strict guidelines
- Because it requires following absolute rules
How does entrepreneurship relate to creativity according to the text?
How does entrepreneurship relate to creativity according to the text?
- Creativity leads to stagnation in entrepreneurship
- Creativity limits entrepreneurship
- Creativity contributes to enhancing the enterprise in entrepreneurship (correct)
- Creativity is unrelated to entrepreneurship
What does the term 'wealth' represent in the context of entrepreneurship?
What does the term 'wealth' represent in the context of entrepreneurship?
- Wealth is measured by the operating performance of a business in entrepreneurship
- Wealth is solely defined by economists in entrepreneurship
- Wealth is equivalent to profit in entrepreneurship
- Wealth creation is the focus rather than profit generation in entrepreneurship (correct)
Why is profit considered different from wealth in the realm of entrepreneurship?
Why is profit considered different from wealth in the realm of entrepreneurship?
Which term is used in entrepreneurship to represent the excess income or revenue from costs and expenses?
Which term is used in entrepreneurship to represent the excess income or revenue from costs and expenses?
What makes entrepreneurship a constantly evolving field according to the text?
What makes entrepreneurship a constantly evolving field according to the text?
What is the term used to describe the critical evaluation and thorough study of the environment where a business operates?
What is the term used to describe the critical evaluation and thorough study of the environment where a business operates?
Which of the following is NOT included in the economic forces or factors affecting businesses?
Which of the following is NOT included in the economic forces or factors affecting businesses?
What do legal forces include legislation on related to, among other things?
What do legal forces include legislation on related to, among other things?
Which of the following is considered a technological force affecting businesses?
Which of the following is considered a technological force affecting businesses?
What is the main focus of environmental scanning in business?
What is the main focus of environmental scanning in business?
Which of the following is NOT a technological force impacting businesses?
Which of the following is NOT a technological force impacting businesses?
Which of the following is NOT included in the societal environment as per Wheelen and Hunger?
Which of the following is NOT included in the societal environment as per Wheelen and Hunger?
What are some examples of social forces mentioned in the text?
What are some examples of social forces mentioned in the text?
What is the main focus of entrepreneurship?
What is the main focus of entrepreneurship?
In the societal environment, what do cultural forces mainly refer to?
In the societal environment, what do cultural forces mainly refer to?
How is risk viewed in entrepreneurship?
How is risk viewed in entrepreneurship?
Which of the following is primarily influenced by changes in the Philippine economy?
Which of the following is primarily influenced by changes in the Philippine economy?
What does entrepreneurship aim to provide to consumers?
What does entrepreneurship aim to provide to consumers?
Which of the following is NOT a part of cultural forces based on the text?
Which of the following is NOT a part of cultural forces based on the text?
Where should the value of goods and services be defined according to the text?
Where should the value of goods and services be defined according to the text?
What aspects do economic forces primarily result from according to Wheelen and Hunger (2010)?
What aspects do economic forces primarily result from according to Wheelen and Hunger (2010)?
What does entrepreneurship originate from according to the text?
What does entrepreneurship originate from according to the text?
How does the text define an entrepreneur?
How does the text define an entrepreneur?
What is a key aspect an entrepreneur should think about to make an existing product more appealing?
What is a key aspect an entrepreneur should think about to make an existing product more appealing?
How can an entrepreneur leverage technology to improve the production of goods or services?
How can an entrepreneur leverage technology to improve the production of goods or services?
Why is it important for an entrepreneur to have access to suppliers in the local area?
Why is it important for an entrepreneur to have access to suppliers in the local area?
What is one way an entrepreneur can identify problems and find solutions?
What is one way an entrepreneur can identify problems and find solutions?
Why is taking advantage of previous work experience beneficial for an entrepreneur?
Why is taking advantage of previous work experience beneficial for an entrepreneur?
What role does an entrepreneur play in the economy according to the summary provided?
What role does an entrepreneur play in the economy according to the summary provided?
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