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Questions and Answers
What is entrepreneurship?
What is entrepreneurship?
- The process of copying existing ideas to make a profit
- The backbone of an emerging economy (correct)
- A method to generate less wealth through low-risk ventures
- A concept focused on competition rather than cooperation
What is the primary goal of entrepreneurship?
What is the primary goal of entrepreneurship?
- To copy existing concepts
- To generate more wealth (correct)
- To focus on competition rather than cooperation
- To make a profit through low-risk ventures
Who is considered the 'Father of Modern Management'?
Who is considered the 'Father of Modern Management'?
- Joseph Schumpeter
- An entrepreneur focused on profit
- A Former Finance Minister of German Austria
- Peter Drucker (correct)
Which individual introduced the economic significance of entrepreneurship?
Which individual introduced the economic significance of entrepreneurship?
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What role does innovation play in entrepreneurship according to the text?
What role does innovation play in entrepreneurship according to the text?
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How does the text differentiate between Entrepreneurship and Business?
How does the text differentiate between Entrepreneurship and Business?
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