Entrepreneurship 101
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Questions and Answers

Which of the following best describes entrepreneurship?

  • The process of creating value through business opportunities (correct)
  • The act of mobilizing resources to start a project
  • The management of risk-taking in business
  • The formation of an organization for commercial purposes
  • According to Adam Smith, what is an entrepreneur?

  • An economic agent who transforms demand into supply
  • An individual who recognizes the potential demand for goods and services
  • An individual who forms an organization for commercial purposes (correct)
  • An individual who increases consumer satisfaction
  • What does Peter F. Drucker believe an entrepreneur does?

  • Searches for changes and responds to them
  • Increases the value and consumer satisfaction
  • Exploits changes as opportunities
  • All of the above (correct)
  • How does entrepreneurship contribute to the economy?

    <p>All of the above</p> Signup and view all the answers

    What is one of the benefits of entrepreneurship?

    <p>Increasing the purchasing power of the people</p> Signup and view all the answers

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