Entrepreneurship Chapter 1 Quiz: Introduction & Characteristics
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Entrepreneurship Chapter 1 Quiz: Introduction & Characteristics

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@FelicitousWoodland

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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?

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

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

    <p>Start-up firms</p> Signup and view all the answers

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

    <p>Global Entrepreneurship Monitor</p> Signup and view all the answers

    According to the academic definition, what is entrepreneurship?

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

    What is corporate entrepreneurship?

    <p>The conceptualization of entrepreneurship at the firm level</p> Signup and view all the answers

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

    <p>Desire for job security</p> Signup and view all the answers

    What is the number one characteristic shared by successful entrepreneurs?

    <p>Passion for the business</p> Signup and view all the answers

    Which of the following statements about entrepreneurial firms is true?

    <p>They are proactive and innovative</p> Signup and view all the answers

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

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

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