Entrepreneurship Myths Quiz
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Questions and Answers

Which myth suggests that entrepreneurs are always inventors?

  • Myth 4: Entrepreneurs Are Academic and Social Misfits
  • Myth 2: Entrepreneurs Are Doers, Not Thinkers
  • Myth 5: Entrepreneurs Must Fit the “Profile”
  • Myth 3: Entrepreneurs Are Born, Not Made (correct)

    • Which school of thought considers the external factors that affect a potential entrepreneur’s lifestyle?

  • The Financial/Capital School of Thought
  • Entrepreneurial Schools of Thought
  • The Experience School of Thought
  • The Environmental School of Thought (correct)

    • Which myth suggests that entrepreneurs are extreme risk takers?

  • Myth 6: All Entrepreneurs Need Is Money
  • Myth 7: All Entrepreneurs Need Is Luck
  • Myth 10: Entrepreneurs Are Extreme Risk Takers (Gamblers) (correct)
  • Myth 9: Entrepreneurs Seek High Failure Rates

    • What are the five key elements that contribute to the entrepreneurial process?

    <p>Quality, quantity, strategy, ethics, and environment</p> Signup and view all the answers

    What is the symbol of business tenacity and achievement according to the text?

    <p>Entrepreneurship</p> Signup and view all the answers

    From an academic perspective, what does entrepreneurship emphasize?

    <p>Trends in entrepreneurial research and education</p> Signup and view all the answers

    What is the definition of a 'Gazelle' in the context of the text?

    <p>A business with at least 20% sales growth annually for five years</p> Signup and view all the answers

    What is the Global Entrepreneurship Monitor (GEM) used for?

    <p>Providing an annual evaluation of the entrepreneurial environment of 42 countries</p> Signup and view all the answers

    What are some reasons for the exceptional entrepreneurial activity in the United States according to the text?

    <p>High percentage of individuals with professional, technological, or business degrees</p> Signup and view all the answers

    How do entrepreneurs lead to growth, as mentioned in the text?

    <p>By entering and expanding existing markets and creating entirely new markets</p> Signup and view all the answers

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