5 Questions
What is entrepreneurship?
Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk, potentially involving values besides simply economic ones.
Who is an entrepreneur?
An entrepreneur is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards.
What is the process of setting up a business known as?
The process of setting up a business is known as 'entrepreneurship'.
How is entrepreneurship commonly seen?
The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.
Why do a significant proportion of startups have to close, according to the text?
A significant proportion of startups have to close due to reasons like lack of funding, bad business decisions, government policies, an economic crisis, a lack of market demand, or a combination of all of these.
Test your knowledge about the fundamentals of entrepreneurship with this quiz. Explore concepts such as value creation, risk-taking, innovation, and business setup.
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