12 Questions
What is a key quality of a successful entrepreneur based on the text?
Open-mindedness
Which quality involves an entrepreneur's ability to repurpose products for new markets?
Creativity
Why is passion considered the most important quality for an entrepreneur?
To enjoy the work beyond monetary gains
Which quality suggests an entrepreneur's belief in continuous improvement?
Self-Starter mentality
What skill is essential for an entrepreneur to motivate employees?
Strong People Skills
Why do entrepreneurs need to be competitive according to the text?
To ensure they strive to be better than others
What is the main activity of entrepreneurship?
Taking on financial risk in the hope of profit
Where does the term 'entrepreneur' come from?
French word 'entreprendre' meaning 'to undertake'
What is one of the outcomes of entrepreneurship for an organization?
Creation of organizations by assembling resources
How does entrepreneurship contribute to improving the standard of living?
By creating productive organizations that offer goods and services
What is the characteristic of entrepreneurs according to the text?
They generate new ideas and are willing to take risks
How do entrepreneurs choose among alternatives according to the text?
By comparing alternatives based on cost and benefit implications
Learn about the concepts of entrepreneurship and wage employment. Explore the activities of an entrepreneur and the nature of wage employment in both formal and informal economies.
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