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Questions and Answers
Entrepreneurship is defined as:
Entrepreneurship is defined as:
- The act of promoting existing products
- The act of investing in established businesses
- The act of designing, launching and starting new businesses (correct)
- The act of managing an existing business
An entrepreneur is defined as:
An entrepreneur is defined as:
- A person who invests in existing businesses
- A person who invents new products
- A person who organizes and manages an enterprise or business (correct)
- A person who promotes existing products
Where does the word 'entrepreneur' come from?
Where does the word 'entrepreneur' come from?
- English
- German
- Spanish
- French (correct)
What does Joseph Schumpeter define an entrepreneur as?
What does Joseph Schumpeter define an entrepreneur as?
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When was the earliest documented use of the word 'entrepreneur' in English?
When was the earliest documented use of the word 'entrepreneur' in English?
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Study Notes
Entrepreneurship and Entrepreneurs
- Entrepreneurship is defined as the process of creating and running a business or organization, often with the goal of earning a profit.
- An entrepreneur is defined as an individual who organizes and operates a business or venture, often taking on financial and operational risks.
Origin of the Word 'Entrepreneur'
- The word 'entrepreneur' comes from the French language, where it is derived from the words 'entre,' meaning 'between,' and 'prendre,' meaning 'to take.'
- Joseph Schumpeter, an Austrian-American economist, defined an entrepreneur as an individual who introduces new products, services, or methods of production, thereby disrupting the existing market and creating new opportunities.
History of the Word 'Entrepreneur'
- The earliest documented use of the word 'entrepreneur' in English dates back to 1828, when it was first used in the context of business and economics.
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Test your knowledge on entrepreneurship and learn about the definition and role of an entrepreneur. Discover the origins of the term and understand the characteristics needed to succeed in the business world.
