Entrepreneurship Basics

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Questions and Answers

What percentage of entrepreneurs donate their time to charitable causes?

  • 50%
  • 30%
  • 70% (correct)
  • 20%

What personal entrepreneurial competency involves the ability to seek and identify new business opportunities?

  • Risk Taking
  • Opportunity Seeking and Initiative (correct)
  • Goal Setting
  • Information Seeking

What is a key aspect that differentiates an entrepreneur from an ordinary businessman?

  • Creativity and Innovation (correct)
  • Networking Abilities
  • Marketing Skills
  • Financial Resources

What is the entrepreneurial skill related to minimizing risks and controlling outcomes?

<p>Risk assessment (C)</p> Signup and view all the answers

How does putting up their own business benefit entrepreneurs beyond making profits?

<p>Creating employment opportunities (B)</p> Signup and view all the answers

What is entrepreneurship defined as?

<p>The science of converting raw ideas into a successful business venture (D)</p> Signup and view all the answers

According to Fajardo (2009), what does entrepreneurship entail?

<p>Risk-taking and investment in resources to create something unique (B)</p> Signup and view all the answers

What is a key characteristic of an entrepreneur?

<p>Seeking profitable opportunities for goods or services (B)</p> Signup and view all the answers

How does entrepreneurship support the economy?

<p>By creating job opportunities and contributing to local economies (B)</p> Signup and view all the answers

What is one way entrepreneurs contribute to job creation?

<p>By expanding and growing their businesses (D)</p> Signup and view all the answers

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