30 Questions
What is the primary driver of the economy, according to the concept of creative destruction?
Entrepreneurship
According to Alfred Marshall, how does the process of entrepreneurship or business development evolve?
Through a gradual and incremental process
What is the key characteristic of an entrepreneur, according to David McClelland's theory?
High need for achievement
What is the Islamic view on the role of entrepreneurship in society?
Entrepreneurship is seen as an integral part of Islamic religion
What is the motivation for success in Islamic entrepreneurship, according to the text?
Success measured by the way and means of achieving it
What is the Islamic view on the position of entrepreneurship and business in society?
Islam encourages its ummah to venture into business
What is the term for being pleased and thankful with one's earnings?
Qanaah
According to Imam Al-Ghazali, what is the first step towards achieving success in life?
Level of Knowledge
What is the primary principle underlying the concept of wealth in Islam?
Allah is the absolute owner of wealth
What is the term for involving in business as a form of worship in Islam?
Ibadah
What is the framework in which Islamic entrepreneurship should operate?
Islamic Economic System
What is the source of guidelines for Islamic entrepreneurship and business activities?
Al-Quran and Al-Hadith
What is the primary reason to search for legitimate ventures in Muslim entrepreneurship ethics?
To avoid forbidden sources of income and property
Which of the following is an exemplary conduct of a good Muslim entrepreneur during the Prophet Muhammad's reign?
Practicing a moderate way of life
What is the key aspect of entrepreneurship according to the functional definition?
Innovation and new venture creation
Why is it essential to avoid laziness in Muslim entrepreneurship ethics?
To prevent stagnation and ensure continuous growth
What is the ethical behavior of a Muslim entrepreneur in relation to wealth?
Paying alms (zakat)
What is the purpose of avoiding malicious behavior in Muslim entrepreneurship ethics?
To build trust with customers and stakeholders
What is the primary goal of Islamic entrepreneurship?
To fulfill the 'fardhu kifayah'
What is the basis of the guiding principles of Islamic entrepreneurship?
The Quran and Hadith
What is the role of a Muslim entrepreneur in Islam?
To perform 'ibadah' and be a 'khalifah'
What is the criteria for success in Islamic entrepreneurship?
The means and ways of achieving success
What is the fundamental nature of human being in Islam?
To seek God's blessings
What is the concept of 'Halal' in Islamic entrepreneurship?
Livelihood that is in accordance with Allah's guidelines
What is the main focus of the study of entrepreneurship?
The entrepreneurial behavior and business dynamics
What is entrepreneurship synonymous with?
The creation of new ventures and small businesses
What is the role of entrepreneurial SMIs in the economy?
To provide services that large corporations have neglected or lack economy of scale to serve
Why is entrepreneurship critical to economic growth?
It promotes innovation and job creation
What is an example of innovative creation of opportunity in entrepreneurship?
Portable phones linked to faxes and laptops turning cars, trains, and airport terminals into offices
Why are SMIs important contributors to local economic growth?
They have been important contributors to local economic growth
Test your understanding of entrepreneurship theories and development stages, from the perspectives of Alfred Marshall and Ibnu Khaldun. Learn about the role of entrepreneurs in shaping the economy and the evolution of businesses from sole proprietorship to public companies.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
