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 (B)</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. (D)</p> Signup and view all the answers