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Questions and Answers
What does the concept of entrepreneurship involve?
What does the concept of entrepreneurship involve?
- Arranging resources without identifying opportunities
- Identifying opportunities, arranging resources, and investing for long term gains (correct)
- Investing resources without identifying opportunities
- Identifying opportunities only
What is one of the entrepreneurial functions in business?
What is one of the entrepreneurial functions in business?
- Avoid competition in the market
- Identify gaps in the market and turn these gaps into business opportunities (correct)
- Only manage the business
- Ignore uncertainties and risks of the business
Which step is part of the elements of entrepreneurship?
Which step is part of the elements of entrepreneurship?
- Selling products in the market
- Observing the environment/identifying gaps (correct)
- Hiring employees
- Advertising the business
What is an essential function of an entrepreneur in business?
What is an essential function of an entrepreneur in business?
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What does the word 'Entrepreneurship' mean?
What does the word 'Entrepreneurship' mean?
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