Entrepreneurs and Innovation

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Questions and Answers

What is the origin of the term 'entrepreneur'?

  • German term for 'risk-taker'
  • Italian verb meaning 'to innovate'
  • French verb meaning 'to undertake' (correct)
  • Spanish word for 'business owner'

According to Joseph Schumpeter, who is responsible for creating new things?

  • Entrepreneurs (correct)
  • Consumers
  • Governments
  • Companies

How did Frank Knight view entrepreneurs in relation to uncertainty?

  • As risk avoiders
  • As followers of trends
  • As bearers of uncertainty (correct)
  • As profit maximizers

What did Israel Kirzner see entrepreneurship as?

<p>A process leading to discovery (C)</p> Signup and view all the answers

Which characteristic is commonly associated with entrepreneurs?

<p>Innovation and new ideas (A)</p> Signup and view all the answers

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