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Questions and Answers
What is an example of an early entrepreneur as described in the text?
What is an example of an early entrepreneur as described in the text?
- A medieval actor
- Marco Polo as a go-between in trade routes (correct)
- A modern-day venture capitalist
- A large production project manager
What was the role of the capitalist in the relationship with the merchant-adventurer?
What was the role of the capitalist in the relationship with the merchant-adventurer?
- Passive risk bearer (correct)
- Insurance provider
- Active trader
- Goods seller
How were profits typically divided between the capitalist and the merchant-adventurer?
How were profits typically divided between the capitalist and the merchant-adventurer?
- 100% to capitalist
- 100% to merchant-adventurer
- 75% to capitalist, 25% to merchant-adventurer (correct)
- 50% to each party
What did the term 'entrepreneur' refer to during the Middle Ages?
What did the term 'entrepreneur' refer to during the Middle Ages?
In the context of large production projects in the Middle Ages, what was the role of the individual termed as an entrepreneur?
In the context of large production projects in the Middle Ages, what was the role of the individual termed as an entrepreneur?
What was a common element of the contracts between merchants and capitalists in the earliest period of entrepreneurship?
What was a common element of the contracts between merchants and capitalists in the earliest period of entrepreneurship?
What role did the cleric typically play in the middle ages as described in the text?
What role did the cleric typically play in the middle ages as described in the text?
Who was John Law, and what led to his downfall?
Who was John Law, and what led to his downfall?
According to Richard Cantillon's view, how did he characterize entrepreneurs?
According to Richard Cantillon's view, how did he characterize entrepreneurs?
What differentiated the entrepreneur from the venture capitalist in the 18th century?
What differentiated the entrepreneur from the venture capitalist in the 18th century?
How were Eli Whitney and Thomas Edison able to finance their inventions?
How were Eli Whitney and Thomas Edison able to finance their inventions?
How were entrepreneurs viewed in the late 19th and early 20th centuries?
How were entrepreneurs viewed in the late 19th and early 20th centuries?
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