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Questions and Answers
Which of the following best describes entrepreneurship?
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?
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?
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?
How does entrepreneurship contribute to the economy?
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What is one of the benefits of entrepreneurship?
What is one of the benefits of entrepreneurship?
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