Entrepreneurship Benefits Quiz
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Questions and Answers

What is one of the key abilities an entrepreneur must have?

  • Following the ideas of other entrepreneurs
  • Creating new things by thinking of new ideas (correct)
  • Living on the labor of others
  • Being skeptical about changes in the organization

    • Why is entrepreneurship considered an economic activity?

  • To be skeptical about changes in the organization
  • To follow the ideas of other entrepreneurs
  • To initiate changes and drive social innovation
  • To create and operate an enterprise to create value or wealth (correct)

    • What is a characteristic of successful entrepreneurs?

  • Pursuing business ideas with courage (correct)
  • Skepticism about changes to be made in the organization
  • Being die-hard conservatives
  • Living on the labor of others

    • How can a graduate of entrepreneurship use their knowledge?

    <p>Teaching or giving advice to other entrepreneurs (B)</p> Signup and view all the answers

    What distinguishes entrepreneurs who initiate changes from those who don't?

    <p>Creating new things by thinking of new ideas (D)</p> Signup and view all the answers

    What is one of the ways entrepreneurs can be compensated?

    <p>Making profit from the operation (D)</p> Signup and view all the answers

    What does it mean when the text mentions developing managerial skills as a benefit for an entrepreneur?

    <p>Entrepreneurs are expected to improve their managerial skills (B)</p> Signup and view all the answers

    What does 'undertake' mean in relation to entrepreneurship?

    <p>Taking on the risk of starting a business venture (A)</p> Signup and view all the answers

    Why is it important for an entrepreneur to classify and seize opportunities?

    <p>To capitalize on potential business prospects (A)</p> Signup and view all the answers

    What is the significance of an entrepreneur retaining good relations with other people?

    <p>It helps in creating a positive work environment (A)</p> Signup and view all the answers

    Why must an entrepreneur calculate risks based on various factors before taking action?

    <p>To consider political, economic, and market conditions (D)</p> Signup and view all the answers

    Which trait is essential for an entrepreneur according to the text?

    <p>Being firm in making decisions (A)</p> Signup and view all the answers

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