10 Questions
What is the primary goal of an entrepreneur when supervising and controlling business activities?
To accomplish business objectives
What is the outcome of an entrepreneur's innovative efforts?
New products or methods of production
What is an important decision an entrepreneur must make when allocating funds for production?
The share of each factor of production in the sale proceeds
What is the role of an entrepreneur in organizing various factors of production?
To coordinate between various factors of production
What is the purpose of an entrepreneur's planning and estimation efforts?
To give a practical shape to their plans
What is the primary reason why an entrepreneur becomes entitled to the surplus remaining from the sale proceeds of the product?
Because they bear the risk of the business
What is the key to a successful entrepreneurship, according to the text?
Solid administrative foundation and decision-making skills
What is the first step in entrepreneurship, according to the text?
Conceiving the idea of a business
What is the outcome of an entrepreneur's incorrect estimations, according to the text?
The entrepreneur incurs a loss, and no other factor of production shares the loss
What is the final step in the entrepreneurial process, according to the text?
Estimating the details of the business and implementing the plan
This quiz covers the roles and functions of an entrepreneur, including planning, organizing, supervising, and controlling business activities to achieve entrepreneurial objectives.
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