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Entrepreneurship and Small Business Management Quiz
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Entrepreneurship and Small Business Management Quiz

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Questions and Answers

What is a key characteristic of entrepreneurship?

  • Reliance on established practices
  • Avoiding any form of risk
  • Strict adherence to traditional methods
  • Risk-taking and innovation (correct)

    • What is a primary focus of small business management?

  • Uncontrolled spending and resource waste
  • Neglecting employee satisfaction
  • Ignoring financial aspects of the business
  • Efficient resource utilization and cost control (correct)

    • Why is adaptability important for entrepreneurs and small business owners?

  • To avoid competition
  • To respond to changing market conditions (correct)
  • To maintain a rigid business model
  • To resist any form of change

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