Entrepreneurship Basics Quiz
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Questions and Answers

What does entrepreneurship refer to?

  • The act of locating the needs of society and attempting to meet them with innovative ideas
  • The development of a country in a changing world and competitive global market
  • The process of establishing a business entity with the intention of making a profit (correct)
  • The ability to start, organize and run a business enterprise while overcoming hurdles

    • Who is responsible for all the risks and rewards of a business venture?

  • Investors
  • Entrepreneur (correct)
  • Government
  • Employees

    • What was introduced by Joseph Alois Schumpeter?

  • The idea of maximizing profits
  • The concept of entrepreneurship (correct)
  • The changing social, political, and economic environments
  • The role of entrepreneurship in country development

    • What does entrepreneurship play a huge role in, according to the text?

    <p>Development of a country in a continuously changing world and competitive global market</p> Signup and view all the answers

    What is an entrepreneur defined as?

    <p>Someone who has the ability and desire to establish, administer, and succeed in a startup venture along with risk entitled to it, to make profits.</p> Signup and view all the answers

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