The Entrepreneurship Advantage
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Questions and Answers

According to economists, what is an entrepreneur willing to do?

  • Delegate the risk of creating a new venture
  • Avoid taking risks in creating a new venture
  • Bear and take the risk of creating a new venture (correct)
  • Delay taking the risk of creating a new venture

    • How is entrepreneurship described in books?

  • The process of destroying something new that brings benefit
  • The process of creating something new that brings benefit (correct)
  • The process of creating something old that brings benefit
  • The process of copying something new that brings benefit

    • According to Joseph Schumpeter, what motivates entrepreneurs?

  • To resist innovation and change in business
  • To look, innovate, and create new and better ways of doing business (correct)
  • To avoid looking for new and better ways of doing business
  • To follow existing ways of doing business

    • According to Peter Drucker, what does an entrepreneur do in response to change?

    <p>Research and take new ideas and trends</p> Signup and view all the answers

    What is one of the benefits of entrepreneurship education to high school students?

    <p>Classify individual entrepreneurial interests</p> Signup and view all the answers

    Which stage of product life cycle involves adding features that differentiate the product from competitors?

    <p>Maturity</p> Signup and view all the answers

    What does SWOT stand for in SWOT analysis?

    <p>Strengths, Weaknesses, Opportunities, Threats</p> Signup and view all the answers

    What is the purpose of SWOT analysis?

    <p>To assess the four aspects of a business</p> Signup and view all the answers

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