Podcast
Questions and Answers
What is entrepreneurship?
What is entrepreneurship?
- The ability to transform resources into goods or services for a fair profit (correct)
- The process of marketing goods to consumers
- The skill of managing employees in a business
- The act of selling products in the market
Which activity is NOT part of entrepreneurship?
Which activity is NOT part of entrepreneurship?
- Identifying and using resources in the environment
- Spotting opportunities
- Conceptualizing ideas into business opportunities
- Managing stocks in a warehouse (correct)
What does an entrepreneur's FIRST investment in a business enterprise typically involve?
What does an entrepreneur's FIRST investment in a business enterprise typically involve?
- Capital
- Raw materials
- An idea (correct)
- Market analysis
What do raw materials represent in entrepreneurship?
What do raw materials represent in entrepreneurship?
What does 'capital' refer to in the context of entrepreneurship?
What does 'capital' refer to in the context of entrepreneurship?
What is the market in the context of entrepreneurship?
What is the market in the context of entrepreneurship?
Which of the following is NOT a behavior, skill, or attribute conducive to entrepreneurial development?
Which of the following is NOT a behavior, skill, or attribute conducive to entrepreneurial development?