Definition and Essence of Wealth
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Questions and Answers

What is entrepreneurship closely related to?

  • Isolation
  • Tradition
  • Risk aversion
  • Innovation (correct)
  • Which term best describes the nature of entrepreneurship?

  • Dynamic (correct)
  • Rigid
  • Static
  • Predictable
  • What characteristic is essential for entrepreneurship?

  • Creativity (correct)
  • Passivity
  • Conservatism
  • Conformity
  • Which of the following is NOT associated with entrepreneurship?

    <p>Rigidity (A)</p> Signup and view all the answers

    In the context of entrepreneurship, what does 'dynamic' refer to?

    <p>Constant change and evolution (A)</p> Signup and view all the answers

    What is a key characteristic of entrepreneurship?

    <p>Risk-taking (D)</p> Signup and view all the answers

    Which term refers to an individual who correctly adopts and practices the principles of entrepreneurship?

    <p>Entrepreneur (C)</p> Signup and view all the answers

    In what way is risk associated with entrepreneurship?

    <p>Inherent (B)</p> Signup and view all the answers

    What term describes a venture that correctly adopts and practices the principles of entrepreneurship?

    <p>Enterprise (B)</p> Signup and view all the answers

    What concept are businesses operating under when practicing intrapreneurship?

    <p>Intrapreneurship (A)</p> Signup and view all the answers

    Which of the following is NOT a characteristic of a small business that correctly adopts and practices the principles of entrepreneurship?

    <p>Limited growth potential (B)</p> Signup and view all the answers

    Which type of venture involves a high degree of risk?

    <p>Entrepreneurial venture (D)</p> Signup and view all the answers

    What distinguishes an entrepreneur from a small business owner in terms of adopting entrepreneurial principles?

    <p>Degree of innovation and risk-taking (C)</p> Signup and view all the answers

    What is a defining aspect of intrapreneurship?

    <p>Operates within an existing organization (D)</p> Signup and view all the answers

    Why is it important for an enterprise to adopt and practice the principles of entrepreneurship?

    <p>To foster innovation and competitiveness (D)</p> Signup and view all the answers

    What is wealth?

    <p>The abundance of money, property, or possession (C)</p> Signup and view all the answers

    Which term captures the essence of wealth in entrepreneurial endeavors?

    <p>Abundance (C)</p> Signup and view all the answers

    What does abundance represent in the context of wealth?

    <p>Overwhelming possessions (C)</p> Signup and view all the answers

    Which statement best defines wealth in the entrepreneurial context?

    <p>An abundance of money, property, or possession (A)</p> Signup and view all the answers

    What is not a component of wealth as defined in the text?

    <p>Scarcity (C)</p> Signup and view all the answers

    What is one of the key benefits of the discussed entity to the local community?

    <p>New employment opportunities (B)</p> Signup and view all the answers

    How does the discussed entity impact the market?

    <p>Creates new demand in the market (D)</p> Signup and view all the answers

    What effect does the entity have on employment within the community?

    <p>Generates employment opportunities in the community (D)</p> Signup and view all the answers

    Which of the following does the entity NOT contribute to?

    <p>Market saturation (A)</p> Signup and view all the answers

    What is a direct impact of the entity's activities on the local community?

    <p>Job creation in the community (B)</p> Signup and view all the answers

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