Entrepreneurship Basics
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Questions and Answers

What does the term 'entrepreneur' mean?

  • Someone who wants to start a business or enterprise (correct)
  • Someone who owns, manages, and assumes the risks of a business
  • A person who engages in strategic management
  • An organizer of an economic venture

    • How do entrepreneurs typically rely on innovation?

  • By focusing on traditional products and services
  • By avoiding risks and challenges
  • By imitating existing businesses
  • By introducing new products, methods, or markets (correct)

    • What is the primary difference between entrepreneurs and small-business owners?

  • Entrepreneurs are less skilled and energetic
  • Small-business owners are more innovative
  • Entrepreneurs rely more on innovation and speed (correct)
  • Small-business owners assume higher risks

    • How is entrepreneurship defined?

    <p>The recognition of opportunities and the use of resources to implement innovative ideas for new ventures</p> Signup and view all the answers

    What do small-business owners typically do in established markets?

    <p>Provide traditional products or services to a local market</p> Signup and view all the answers

    What does the term 'entrepreneur' mean?

    <p>Someone who wants to start a business or enterprise</p> Signup and view all the answers

    How are entrepreneurs typically described?

    <p>Gogetters with high levels of skill and energy</p> Signup and view all the answers

    What is the primary focus of entrepreneurs for growing their business?

    <p>Innovation—new products, methods, or markets</p> Signup and view all the answers

    How is entrepreneurship defined?

    <p>The recognition of opportunities and the implementation of innovative ideas for new ventures</p> Signup and view all the answers

    What distinguishes small-business owners from entrepreneurs?

    <p>Small-business owners enter established markets with traditional products or services</p> Signup and view all the answers

    What does the term 'entrepreneur' mean?

    <p>An individual who organizes, owns, manages, and assumes the risks of a business</p> Signup and view all the answers

    How do entrepreneurs typically rely on innovation?

    <p>By introducing new products, methods, or markets to grow their business quickly</p> Signup and view all the answers

    What distinguishes small-business owners from entrepreneurs?

    <p>Their reliance on innovation and speed</p> Signup and view all the answers

    How is entrepreneurship defined?

    <p>The recognition of opportunities and the implementation of innovative ideas for new ventures</p> Signup and view all the answers

    What is the primary focus of entrepreneurs for growing their business?

    <p>Reliance on innovation and speed</p> Signup and view all the answers

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