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Entrepreneurship and Small Business Quiz

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Entrepreneurship and Small Business Quiz

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Questions and Answers

What is the meaning of the French word 'entrepreneur'?

To organize

To assume risk

To operate

To undertake (correct)

What is the primary difference between a small business and an ordinary small business?

The practice of entrepreneurship principles (correct)

The ownership structure

The goods and services provided

The size of the workforce

Which of the following is not a salient feature of entrepreneurship?

Entailing the opening and managing of a self-owned enterprise

Being a wealth-destroying venture (correct)

Being a risk-taking venture

Providing valuable goods and services

Which of the following is not a source of entrepreneurial ideas?

Government thrusts, programs, and policies Signup and view all the answers

What is the first stage of the entrepreneurial process?

Discovery Signup and view all the answers

Which of the following is not a key difference between entrepreneurship and ordinary small business activity?

Source of business idea Signup and view all the answers

What is the primary role of an entrepreneur according to the Innovation Theory by Joseph Schumpeter?

Introducing new product ideas Signup and view all the answers

According to Alfred Marshal's Theory, what does active participation of an organization contribute to?

Inactivity of other factors in production Signup and view all the answers

What does Weber's Sociological Theory propose as the primary driving elements of entrepreneurship?

Social cultures Signup and view all the answers

According to Kaldor's Technological Theory, what promotes efficiency in entrepreneurship?

Proper application of modern technology Signup and view all the answers

What does Lebeinstein's Gap-Filling Theory suggest as the primary goal of entrepreneurship?

Filling existing gaps in the market Signup and view all the answers

According to Kirzner's Alertness Theory, what are the major attributes of entrepreneurship?

Spontaneous learning and alertness Signup and view all the answers