Entrepreneurship in Business

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Questions and Answers

What is one of the common myths about entrepreneurship according to the text?

  • Entrepreneurs are not risk takers
  • Entrepreneurs have no desire for high achievement
  • Entrepreneurs are born, not made (correct)
  • Entrepreneurs are not money driven

Which quality is NOT associated with an entrepreneur as mentioned in the text?

  • Self-discipline
  • Integrity
  • Fear of assuming risk (correct)
  • Decision-making

What is one of the key roles of an entrepreneur in economic development as per the text?

  • Decreasing standards of living
  • Improving standards of living (correct)
  • Creating unemployment opportunities
  • Reducing regional development

Which statement best describes entrepreneurship as a career option?

<p>Entrepreneurs can work in various sectors and roles (C)</p> Signup and view all the answers

Which quality is essential for an entrepreneur based on the text?

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

What does the text suggest about the dream of entrepreneurship for many people?

<p>It appeals to millions around the world (C)</p> Signup and view all the answers

What does entrepreneurship mean in a business context?

<p>Producing and marketing goods and services (C)</p> Signup and view all the answers

Which of the following is NOT considered a function of entrepreneurship?

<p>Diversifying company investments (B)</p> Signup and view all the answers

What is the first step in starting a new business venture?

<p>Getting money and material (A)</p> Signup and view all the answers

How can entrepreneurs improve their product or service according to the text?

<p>By understanding customer preferences and dislikes (D)</p> Signup and view all the answers

What role does entrepreneurship play in society according to the text?

<p>Improving standard of living (C)</p> Signup and view all the answers

Which of the following is a key characteristic of entrepreneurship highlighted in the text?

<p>Striving for excellence in work (A)</p> Signup and view all the answers

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