Introduction to Entrepreneurship
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Questions and Answers

What is an entrepreneur according to the definition?

  • A person who only plans and organizes resources for a business
  • A person who only manages a business on a long-term basis
  • A person who only innovates products and services
  • A person who plans, organizes, and manages resources to bring a new enterprise into existence (correct)

What makes a product valuable according to the text?

  • When it is expensive
  • When it solves a problem and is cost-effective (correct)
  • When it is marketed well
  • When it is produced quickly

What is one of the rewards of being an entrepreneur?

  • Having a 9-to-5 job
  • Earning a steady income
  • The wellbeing of your consumer (correct)
  • Becoming a CEO

What is one of the risks of being an entrepreneur?

<p>Having to work long hours (B)</p> Signup and view all the answers

What is one of the importance of entrepreneurship to a country?

<p>It provides experience and work for people (C)</p> Signup and view all the answers

What is entrepreneurship according to the text?

<p>A process of innovating new methods to produce products and services by infusing all resources (D)</p> Signup and view all the answers

What is a systematic innovation according to Peter Dracker?

<p>A purposeful search for changes (A)</p> Signup and view all the answers

What is a characteristic of a Founder or Pure Entrepreneur?

<p>They conceptualize a business plan and put in effort to make it a reality (D)</p> Signup and view all the answers

What motivates an Induced Entrepreneur?

<p>Government policies, unemployment, and family support (C)</p> Signup and view all the answers

What type of entrepreneur is involved in manufacturing a product?

<p>Industrial Entrepreneur (C)</p> Signup and view all the answers

What is a characteristic of a First Generation Entrepreneur?

<p>They start a business by innovative skill (C)</p> Signup and view all the answers

What is a characteristic of a Corporate Entrepreneur?

<p>They demonstrate innovative skill in organizing and managing (A)</p> Signup and view all the answers

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