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</p> Signup and view all the answers

    What do narrow definitions of entrepreneurship focus on?

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

    What is the entrepreneur commonly seen as?

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

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