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Questions and Answers
What is the primary ability of an entrepreneur according to the text?
What is the primary ability of an entrepreneur according to the text?
- Acquiring unlimited resources
- Manufacturing goods and providing services
- Setting fair prices for goods and services
- Spotting opportunities and conceptualizing ideas (correct)
What does an entrepreneur's first investment in a business enterprise typically consist of?
What does an entrepreneur's first investment in a business enterprise typically consist of?
- Market research
- Raw materials
- An idea (correct)
- Capital
Which term refers to the buyers and users of the entrepreneur's product?
Which term refers to the buyers and users of the entrepreneur's product?
- Capital
- Raw materials
- Profit
- Market (correct)
In entrepreneurship, what do raw materials represent?
In entrepreneurship, what do raw materials represent?
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What does capital primarily refer to in the context of entrepreneurship?
What does capital primarily refer to in the context of entrepreneurship?
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Which phrase best describes the process an entrepreneur uses to transform resources into products?
Which phrase best describes the process an entrepreneur uses to transform resources into products?
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What is considered an entrepreneur's clear plan of action according to the text?
What is considered an entrepreneur's clear plan of action according to the text?
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