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Entrepreneurship Chapter 1 Quiz: Introduction & Characteristics

12 Questions

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Entrepreneurship Chapter 1 Quiz: Introduction & Characteristics

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Questions and Answers

What percentage of Americans were actively engaged in starting a business or managing a business less than three years old according to the 2019/2020 GEM study?

17.4% (correct)

10.2%

30.6%

25.8%

Which chapter of the book covers the introduction to entrepreneurship?

Chapter 3

Chapter 2

Chapter 1 (correct)

Chapter 4

What is one of the reasons discussed for why people decide to become entrepreneurs?

Preference for routine jobs

Fear of failure

Lower income potential

Desire for independence (correct)

How many main characteristics of successful entrepreneurs are identified in the text?

Four Signup and view all the answers

Which type of firms are discussed in Chapter 1 of the book?

Start-up firms Signup and view all the answers

What does GEM stand for in the context of the 2019/2020 study mentioned?

Global Entrepreneurship Monitor Signup and view all the answers

According to the academic definition, what is entrepreneurship?

The process by which individuals pursue opportunities without regard to resources they currently control Signup and view all the answers

What is corporate entrepreneurship?

The conceptualization of entrepreneurship at the firm level Signup and view all the answers

Which of the following is NOT one of the primary reasons for becoming an entrepreneur?

Desire for job security Signup and view all the answers

What is the number one characteristic shared by successful entrepreneurs?

Passion for the business Signup and view all the answers

Which of the following statements about entrepreneurial firms is true?

They are proactive and innovative Signup and view all the answers

What does the text suggest is the primary source of an entrepreneur's passion for the business?

The belief that the business will positively influence people's lives Signup and view all the answers