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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?

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

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

Good organizer (D) Signup and view all the answers

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

It appeals to millions around the world (C) Signup and view all the answers

What does entrepreneurship mean in a business context?

Producing and marketing goods and services (C) Signup and view all the answers

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

Diversifying company investments (B) Signup and view all the answers

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

Getting money and material (A) Signup and view all the answers

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

By understanding customer preferences and dislikes (D) Signup and view all the answers

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

Improving standard of living (C) Signup and view all the answers

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

Striving for excellence in work (A) Signup and view all the answers