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Questions and Answers
What is the root meaning of the term 'entrepreneur'?
What is the root meaning of the term 'entrepreneur'?
- One who undertakes a business venture (correct)
- A person who invents and creates new ideas
- Someone who is self-motivated
- One who takes risks in order to reap good returns
According to Joseph Schumpter, what distinguishes entrepreneurs from ordinary businessmen?
According to Joseph Schumpter, what distinguishes entrepreneurs from ordinary businessmen?
- Their ability to take risks
- Their focus on profit maximization
- Their delivery of innovation and technological change (correct)
- Their experience in running businesses
What does the term 'Creative destruction' refer to in entrepreneurship?
What does the term 'Creative destruction' refer to in entrepreneurship?
- Establishing new sources of supply
- Expanding into new markets
- Getting rid of old, obsolete practices to make way for new ways of doing business (correct)
- Introducing new product lines
Which term is used to describe the product (goods or services) offered for sale by a business?
Which term is used to describe the product (goods or services) offered for sale by a business?
What is the significance of the root word 'Antha Prerna' in the context of entrepreneurship?
What is the significance of the root word 'Antha Prerna' in the context of entrepreneurship?
According to Claro Ganac, what is his advice regarding the use of puns in marketing?
According to Claro Ganac, what is his advice regarding the use of puns in marketing?
What is the term 'Gut game' referred to in the text?
What is the term 'Gut game' referred to in the text?
According to Jean-Baptiste Say, what role does the entrepreneur play in the economy?
According to Jean-Baptiste Say, what role does the entrepreneur play in the economy?
What does 'Profit' refer to in the context of entrepreneurship?
What does 'Profit' refer to in the context of entrepreneurship?
Which factor is NOT mentioned as a cause of business failure in the text?
Which factor is NOT mentioned as a cause of business failure in the text?
What is a key characteristic of a good business name according to the text?
What is a key characteristic of a good business name according to the text?
What does a 'Business Plan' typically outline?
What does a 'Business Plan' typically outline?
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