Introduction to Entrepreneurship: Definitions and Historical Development

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What is the origin of the word 'entrepreneur'?

From the German word 'unternehmer'

From the Greek word 'entrepot'

From the Latin word 'enterprisium'

From the French word 'entreprendre' (correct)

According to Richard Cantillon, who was included in his definition of entrepreneurs?

Wage employees working for an employer

Only business owners with capital

Beggars and thieves (correct)

Investors with a high level of certainty

Who was the earliest in the history of Economics to identify the role of Entrepreneur in the economy?

Joseph Schumpeter

Peter Drucker

Richard Cantillon (correct)

Jean Baptiste Say

What did Richard Cantillon state about entrepreneurs' wages?

Uncertain wages with or without capital Signup and view all the answers

Which period of history is highlighted for its influential individuals in shaping the concept of entrepreneurship?

Industrial Revolution period Signup and view all the answers

According to Richard's classification, which economic agents play the central part in the economy?

Entrepreneurs Signup and view all the answers

What did Richard consider as the primary task of an entrepreneur?

Decision making Signup and view all the answers

How did Richard view the role of entrepreneurs in the economy?

Central Signup and view all the answers

What function of the entrepreneur was considered one of the chief functions by earlier writers but has declined in importance?

Management control Signup and view all the answers

Apart from decision making, what other major function does the entrepreneur perform?

Division of income Signup and view all the answers

Introduction to Entrepreneurship: Definitions and Historical Development

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Questions and Answers

What is the origin of the word 'entrepreneur'?

According to Richard Cantillon, who was included in his definition of entrepreneurs?

Who was the earliest in the history of Economics to identify the role of Entrepreneur in the economy?

What did Richard Cantillon state about entrepreneurs' wages?

Which period of history is highlighted for its influential individuals in shaping the concept of entrepreneurship?

According to Richard's classification, which economic agents play the central part in the economy?

What did Richard consider as the primary task of an entrepreneur?

How did Richard view the role of entrepreneurs in the economy?

What function of the entrepreneur was considered one of the chief functions by earlier writers but has declined in importance?

Apart from decision making, what other major function does the entrepreneur perform?

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