Entrepreneurship Week 2 Quiz
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Questions and Answers

What defines entrepreneurship as an economic activity?

  • Profit potential
  • Creation and operation of an enterprise (correct)
  • Innovative thinking
  • Risk-bearing behavior
  • Which type of entrepreneurs are skeptical about making changes within their organizations?

  • Innovative Entrepreneurs
  • Imitating Entrepreneurs
  • Fabian Entrepreneurs (correct)
  • Drone Entrepreneurs
  • What is a core competency of an entrepreneur according to the text?

  • Following the crowd
  • Creating value by using limited resources (correct)
  • Imitating ideas from others
  • Avoiding risks at all costs
  • Why do entrepreneurs need to be compensated according to the text?

    <p>From profit generated by their operations</p> Signup and view all the answers

    Which type of entrepreneurs do not create new things but follow the ideas of others?

    <p>Imitating Entrepreneurs</p> Signup and view all the answers

    What is a key trait needed by entrepreneurs to deal with uncertainty?

    <p>Creativity and innovation</p> Signup and view all the answers

    What does the term 'entrepreneur' mean?

    <p>To undertake</p> Signup and view all the answers

    Which of the following is NOT a common competency in entrepreneurship?

    <p>Coward</p> Signup and view all the answers

    What is the significance of entrepreneurship according to the text?

    <p>Helps identify and develop managerial capabilities</p> Signup and view all the answers

    Which common competency involves having convincing power?

    <p>Communicator</p> Signup and view all the answers

    What does it mean to be proactive as an entrepreneur?

    <p>Having the ability to see business chances first</p> Signup and view all the answers

    Which common competency involves having the charisma to be obeyed by employees?

    <p>Leader</p> Signup and view all the answers

    What type of entrepreneurs are described as die-hard conservatives and willing to suffer business losses?

    <p>Drone Entrepreneurs</p> Signup and view all the answers

    Which type of entrepreneurs drive social innovation and transformation in fields like education, health, and human rights?

    <p>Social Entrepreneurs</p> Signup and view all the answers

    What career path involves providing advice to other entrepreneurs and aspiring business people based on expertise in entrepreneurship?

    <p>Business Consultant</p> Signup and view all the answers

    Which career opportunity allows an entrepreneur to utilize their knowledge by teaching others about entrepreneurship?

    <p>Teacher</p> Signup and view all the answers

    In which career option can an entrepreneur apply their skills as a salesman?

    <p>Sales</p> Signup and view all the answers

    Which career path involves an entrepreneur reporting on business matters due to their expertise in the field?

    <p>Business Reporter</p> Signup and view all the answers

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