Entrepreneurship Knowledge Quiz

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Questions and Answers

What is entrepreneurship?

Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk, potentially involving values besides simply economic ones.

Who is considered an entrepreneur?

An entrepreneur is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards.

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

The process of setting up a business is known as 'entrepreneurship'.

How is the entrepreneur commonly seen?

The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. Signup and view all the answers

How is entrepreneurship defined by Business Dictionary?

Business Dictionary defines entrepreneurship as the 'capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit'. Signup and view all the answers

What is the role of an entrepreneur according to the text?

The role of an entrepreneur is to create and/or invest in businesses, bearing most of the risks and enjoying most of the rewards. Signup and view all the answers

How is entrepreneurship described in more narrow definitions?

Entrepreneurship is described as the process of designing, launching and running a new business, often similar to a small business, or as the 'capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit.' Signup and view all the answers

What are entrepreneurs often referred to as?

Entrepreneurs are often referred to as innovators, a source of new ideas, goods, services, and business/or procedures. Signup and view all the answers

What does entrepreneurship involve beyond the minimal amount of risk assumed by a traditional business?

Entrepreneurship involves the creation or extraction of economic value in ways that potentially involve values besides simply economic ones. Signup and view all the answers

According to Business Dictionary, how is entrepreneurship defined?

According to Business Dictionary, entrepreneurship is defined as the 'capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit.' Signup and view all the answers

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