Introduction to Entrepreneurship
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Questions and Answers

What is an essential characteristic of an entrepreneur?

  • Working only in a large corporation
  • Being a salaried employee
  • Taking risks to seize business opportunities (correct)
  • Avoiding innovation and change
  • What is a key benefit of entrepreneurship to a country?

  • Creation of jobs and provision of goods and services (correct)
  • Reduction in economic growth
  • Increased dependence on imported products
  • Increased unemployment
  • What is a reward of being an entrepreneur?

  • Long hours of hard work
  • The wellbeing of consumers (correct)
  • Risk of failure
  • Only focusing on profit
  • What is a risk of being an entrepreneur?

    <p>Risk of failure</p> Signup and view all the answers

    What is a key role of an entrepreneur in a business?

    <p>A planner, innovator, and decision maker</p> Signup and view all the answers

    What is a characteristic of a valuable product?

    <p>Solves a problem and is cost-effective</p> Signup and view all the answers

    Why are entrepreneurs important to a country's economy?

    <p>They earn profits, provide jobs, and inspire others</p> Signup and view all the answers

    What is a consequence of entrepreneurship in a country?

    <p>Non-dependence on imported products</p> Signup and view all the answers

    What is the primary characteristic of a systematic innovation?

    <p>It is a purposeful and organized search for changes.</p> Signup and view all the answers

    What is the primary goal of an Achiever entrepreneur?

    <p>To excel and demonstrate personal drive</p> Signup and view all the answers

    What type of entrepreneur is characterized by demonstrating innovative skills in organizing and managing?

    <p>Corporate Entrepreneur</p> Signup and view all the answers

    What is the primary characteristic of a First Generation Entrepreneur?

    <p>They start a business using their innovative skills</p> Signup and view all the answers

    What is the primary goal of an entrepreneur who is classified as a franchisee?

    <p>To operate a business using a proven model and trademarks</p> Signup and view all the answers

    What is the primary characteristic of an Industrial Entrepreneur?

    <p>They are involved in manufacturing a product</p> Signup and view all the answers

    What type of entrepreneur is classified as an 'Induced Entrepreneur'?

    <p>One who is driven by government policies and family support</p> Signup and view all the answers

    What is the primary characteristic of a Founder or Pure Entrepreneur?

    <p>They start a business using their own savings</p> Signup and view all the answers

    What is the primary characteristic of a Trading Entrepreneur?

    <p>They undertake merchandising activities</p> Signup and view all the answers

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