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Entrepreneurship Chapter 1: Concepts and Characteristics
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Entrepreneurship Chapter 1: Concepts and Characteristics

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Questions and Answers

What term describes the process of creating something new with value by assuming risks and receiving rewards?

  • Creativity
  • Independence
  • Entrepreneurship (correct)
  • Innovation
  • Which adjective describes how an entrepreneur undertakes their projects?

  • Conventional
  • Entrepreneurial (correct)
  • Innovative
  • Risk-free
  • What was an entrepreneur in the 17th Century according to the text?

  • A service provider
  • An innovative creator
  • A government contractor (correct)
  • An individual undertaking a commercial project
  • Which term is synonymous with 'someone who undertakes certain projects' according to the text?

    <p>Entrepreneur</p> Signup and view all the answers

    What is the historical origin of entrepreneurship as mentioned in the text?

    <p>Government contractual agreements</p> Signup and view all the answers

    Which of the following best describes the role of an entrepreneur from an economic perspective?

    <p>One who brings resources together to create greater value</p> Signup and view all the answers

    Based on the text, what does 'Entrepreneurial Process' primarily refer to?

    <p>New value creation means</p> Signup and view all the answers

    Which of the following best represents the psychological perspective on entrepreneurs?

    <p>Driven by the need for achievement, experimentation, and independence</p> Signup and view all the answers

    Which of the following is NOT a type of entrepreneur mentioned in the text?

    <p>Serial entrepreneur</p> Signup and view all the answers

    What is the function of an entrepreneur from the perspective of a capitalist philosopher?

    <p>To create wealth for themselves and others</p> Signup and view all the answers

    Based on the information provided, which of the following statements is TRUE about intrapreneurship?

    <p>It involves entrepreneurial work within a large organization</p> Signup and view all the answers

    Which of the following is NOT mentioned as a role of entrepreneurs in economic development?

    <p>Reduction in economic concentration</p> Signup and view all the answers

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