Entrepreneurship Definition and Examples
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Questions and Answers

What is the definition of an entrepreneur?

  • A person who undertakes financial risks in managing a business (correct)
  • An individual who invests in real estate
  • A person who works as a registered nurse
  • Someone who organizes a charity organization

    • In the healthcare field, what role does a nurse entrepreneur play?

  • Develops businesses through creativity and problem-solving (correct)
  • Teaches at a nursing school
  • Sells medical equipment to hospitals
  • Manages a restaurant chain

    • According to the Merriam-webster dictionary, what does an entrepreneur do?

  • Provides legal services to the community
  • Represents others in negotiations
  • Organizes, manages, and assumes the risks of a business (correct)
  • Works as a teacher in a school

    • Which of the following best describes the term 'entrepreneurship'?

    <p>The process of organizing and operating a business with risks involved</p> Signup and view all the answers

    What distinguishes a nurse entrepreneur from a traditional nurse?

    <p>Using training and expertise in creating businesses</p> Signup and view all the answers

    What is the primary focus of the StartUp Village organization?

    <p>Developing and selling healthcare products and devices</p> Signup and view all the answers

    Which of the following is not mentioned as a trend affecting the StartUp Village organization?

    <p>Changing attitudes about the nursing profession</p> Signup and view all the answers

    What type of services does a proprietor of a nursing business offer?

    <p>Direct care, educational, research, administrative or consultative services</p> Signup and view all the answers

    Which of the following challenges is not faced by the StartUp Village organization?

    <p>Declining demand for healthcare services</p> Signup and view all the answers

    What is the purpose of 'costing' in the context of the StartUp Village organization?

    <p>All of the above</p> Signup and view all the answers

    Which of the following is not mentioned as a trend affecting the StartUp Village organization?

    <p>Increased use of 'outsourced' services by hospitals</p> Signup and view all the answers

    What advice does the text provide to individuals associated with the StartUp Village organization?

    <p>Keep fighting in building your dream business</p> Signup and view all the answers

    What is a key aspect of an entrepreneurial mindset?

    <p>Ability to identify and exploit new opportunities</p> Signup and view all the answers

    What type of entrepreneurship does the case scenario suggest?

    <p>Opportunity-driven entrepreneurship</p> Signup and view all the answers

    What is the key skill that an entrepreneurial mindset develops, according to the text?

    <p>Capacity to recognize and act on opportunities</p> Signup and view all the answers

    What is the primary focus of the content covered in the text?

    <p>Cultivating an entrepreneurial mindset</p> Signup and view all the answers

    What is a key aspect of an entrepreneurial mindset?

    <p>Capacity to assemble necessary resources</p> Signup and view all the answers

    What is the main purpose of the case scenario presented in the text?

    <p>To prompt students to identify a potential entrepreneurial opportunity</p> Signup and view all the answers

    What is the primary purpose of pricing as a process?

    <p>To determine the value of a product or service</p> Signup and view all the answers

    Which type of cost is directly related to the manufacturing of a product?

    <p>Direct Costs</p> Signup and view all the answers

    Which type of cost does not change despite the level of production?

    <p>Fixed Costs</p> Signup and view all the answers

    If the demand for a commodity is unitary elastic to price, what is the relationship between the demand and price changes?

    <p>The demand changes at the same rate as the price fluctuations</p> Signup and view all the answers

    What is the relationship between price and commodity demand when the demand is elastic to price?

    <p>The demand changes significantly in response to a slight price change</p> Signup and view all the answers

    Which type of cost refers to the daily operations of a company?

    <p>Operating Costs</p> Signup and view all the answers

    What is the primary focus of intrapreneurship?

    <p>Developing new business ventures within an existing corporation</p> Signup and view all the answers

    Which type of entrepreneurship is primarily concerned with preserving and promoting cultural values and traditions?

    <p>Indigenous entrepreneurship</p> Signup and view all the answers

    What distinguishes a franchise business from a small business?

    <p>A franchise operates under a certain brand and is bound by a license and contract for profit shares</p> Signup and view all the answers

    Which type of entrepreneurship is specifically focused on addressing social issues?

    <p>Social entrepreneurship</p> Signup and view all the answers

    What are entrepreneurial knowledge structures used for?

    <p>Identifying and taking advantage of business opportunities</p> Signup and view all the answers

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