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 (A)</p> Signup and view all the answers

What has replaced LP records?

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

Which century did Joseph Schumpeter explore the concept of entrepreneurship?

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

According to economists, what does entrepreneurship go beyond?

<p>Starting a business (A)</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 (D)</p> Signup and view all the answers

What has replaced LP records?

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

What did Peter Drucker define an entrepreneur as?

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

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