Entrepreneurship
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Entrepreneurship

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Questions and Answers

How do economists define entrepreneurship?

  • Risking starting a new business with high growth and profit potential (correct)
  • Innovating new products and services to meet customer wants
  • Starting a business
  • Investigating and adopting new ideas and trends

    • What did Joseph Schumpeter explore about entrepreneurs?

  • How entrepreneurs are driven to innovate and improve company practices (correct)
  • How entrepreneurs start businesses
  • How entrepreneurs seek change and respond to it
  • How entrepreneurs investigate and adopt new ideas and trends

    • How did Peter Drucker define an entrepreneur?

  • Someone who risks starting a new business with high growth and profit potential
  • Someone who starts a business
  • Someone who innovates new products and services to meet customer wants
  • Someone who seeks change and responds to it by investigating and adopting new ideas and trends (correct)

    • How has the communications business changed over time?

    <p>From home phones to cell phones to the internet</p> Signup and view all the answers

    What has replaced LP records?

    <p>Music apps like Spotify</p> Signup and view all the answers

    Which century did Joseph Schumpeter explore the concept of entrepreneurship?

    <p>20th century</p> Signup and view all the answers

    According to economists, what does entrepreneurship go beyond?

    <p>Starting a business</p> Signup and view all the answers

    What is the main characteristic of an entrepreneur according to most businesspeople?

    <p>High growth and profit potential</p> Signup and view all the answers

    What has replaced LP records?

    <p>mp3 devices</p> Signup and view all the answers

    What did Peter Drucker define an entrepreneur as?

    <p>Someone who seeks change</p> Signup and view all the answers

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