Entrepreneurship Basics
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Questions and Answers

What is the process of setting up a business known as?

  • Startup
  • Entrepreneurship (correct)
  • Business management
  • Innovation

How is an entrepreneur commonly seen?

  • As an innovator (correct)
  • As a manager
  • As a financier
  • As a marketer

What is entrepreneurship often similar to?

  • A small business (correct)
  • A government agency
  • A non-profit organization
  • A corporation

Why do a significant proportion of startups have to close, according to the text?

<p>Lack of funding, bad business decisions, government policies, an economic crisis, or a lack of market demand (B)</p> Signup and view all the answers

What do narrow definitions of entrepreneurship focus on?

<p>Launching and running a new business (C)</p> Signup and view all the answers

What is entrepreneurship?

<p>The creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (D)</p> Signup and view all the answers

What is an entrepreneur?

<p>An individual who invests in one or more businesses, bearing most of the risks and enjoying most of the rewards (D)</p> Signup and view all the answers

What do narrow definitions of entrepreneurship focus on?

<p>The process of designing, launching and running a new business (D)</p> Signup and view all the answers

Why do a significant proportion of startups have to close?

<p>Due to a combination of all these factors (D)</p> Signup and view all the answers

What is the entrepreneur commonly seen as?

<p>A source of new ideas and innovation (C)</p> Signup and view all the answers

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