Entrepreneurship Basics
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Entrepreneurship Basics

Explore the fundamental concepts of entrepreneurship, including defining entrepreneurship, the capacity for innovation, and the role of entrepreneurs in converting ideas into successful business ventures. Learn about the risks, investments, and opportunities involved in entrepreneurial activities.

Created by
@HumourousLasVegas

Questions and Answers

What percentage of entrepreneurs donate their time to charitable causes?

70%

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

Opportunity Seeking and Initiative

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

Creativity and Innovation

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

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

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

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

What is entrepreneurship defined as?

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

What is a key characteristic of an entrepreneur?

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

How does entrepreneurship support the economy?

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

What is one way entrepreneurs contribute to job creation?

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

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