Entrepreneurship Creation and Value Extraction
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Questions and Answers

What is entrepreneurship mainly focused on?

  • Eliminating rewards in business ventures
  • Minimizing risk in business ventures
  • Creation of economic value (correct)
  • Extraction of social value

What is the process of setting up a business known as?

  • Economic extraction
  • Investment
  • Entrepreneurship (correct)
  • Risk minimization

How is an entrepreneur defined?

  • Someone who avoids risks in business
  • An individual who invests without bearing any risks
  • A person who avoids taking financial risks
  • A person who innovates and invests in businesses taking risks (correct)

How has entrepreneurship been described more narrowly?

<p>Creating, launching, and running new businesses (D)</p> Signup and view all the answers

What are individuals who create businesses often referred to as?

<p>Entrepreneurs (D)</p> Signup and view all the answers

What are some factors that can lead to the closure of a startup company?

<p>A combination of lack of funding, bad business decisions, government policies, an economic crisis, and a lack of market demand (D)</p> Signup and view all the answers

What does entrepreneurship involve?

<p>Creation or extraction of economic value and the act of being an entrepreneur (D)</p> Signup and view all the answers

How did Jean-Baptiste Say define entrepreneurship in the 19th century?

<p>Shifting economic resources to areas of higher productivity (A)</p> Signup and view all the answers

What is considered one of the criteria for becoming an entrepreneur?

<p>Having preferential access to individuals and opportunities (C)</p> Signup and view all the answers

How do some scholars view entrepreneurship according to the text?

<p>As an individualistic perspective focusing on traits an entrepreneur has (C)</p> Signup and view all the answers

In which fields has entrepreneurship been studied according to the text?

<p>Within disciplines like management, economics, sociology, and economic history (D)</p> Signup and view all the answers

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