Entrepreneurship, Job Creation, and National Economy Quiz

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Questions and Answers

What is the primary purpose of entrepreneurship according to the text?

  • To introduce innovative products and services
  • To initiate and maintain profitable economic activities (correct)
  • To create new job opportunities for the unemployed
  • To distribute goods and services to consumers

What is a key characteristic of an entrepreneur?

  • Focused solely on maximizing profits
  • Tries to maximize profits through innovation (correct)
  • Risk-averse and cautious
  • Avoids new and pioneering ventures

How does the text characterize entrepreneurs?

  • As managers of large, established corporations
  • As employees working for wages in existing firms
  • As people who enter into new and pioneering ventures (correct)
  • As individuals focused on personal wealth creation

What is considered a key function of entrepreneurship according to the text?

<p>Recognizing and acting on business opportunities (A)</p> Signup and view all the answers

What resources are necessary for an entrepreneur to succeed?

<p>Human, financial and material resources (A)</p> Signup and view all the answers

How does the text suggest entrepreneurship contributes to the national economy?

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

Which of the following is NOT considered a characteristic of a technopreneur?

<p>Risk-averse (D)</p> Signup and view all the answers

What is one of the key differences between an entrepreneur and a technopreneur?

<p>Technopreneurs embrace technological risk, while entrepreneurs are comfortable with various business risks. (B)</p> Signup and view all the answers

Which of the following is NOT considered an importance of technopreneurship?

<p>Centralization of business (A)</p> Signup and view all the answers

What is the role of technology incubators in the technopreneurship ecosystem?

<p>They provide resources like office space, mentorship, and funding to nurture tech-based businesses. (D)</p> Signup and view all the answers

What is the primary goal of the technopreneurship ecosystem?

<p>To create an environment that supports new ideas, investments, and steady growth of tech-based businesses (A)</p> Signup and view all the answers

Which of the following is NOT considered a characteristic of a technopreneur?

<p>Comfortable with traditional business models (C)</p> Signup and view all the answers

What is the primary function of entrepreneurship in economic development?

<p>Promoting capital formation (A)</p> Signup and view all the answers

How does entrepreneurship contribute to balanced regional development?

<p>By providing incentives for businesses to relocate to less developed regions (B)</p> Signup and view all the answers

Which of the following is NOT a way that entrepreneurship promotes economic development?

<p>Increasing product image (B)</p> Signup and view all the answers

How does entrepreneurship contribute to the equitable redistribution of wealth and income?

<p>By providing immediate large-scale employment (D)</p> Signup and view all the answers

Which of the following is NOT a function of an entrepreneur?

<p>Establishing credibility through personal relationships (B)</p> Signup and view all the answers

What is the primary way that entrepreneurship promotes export trade?

<p>By increasing the capital base (A)</p> Signup and view all the answers

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