The Entrepreneurship Essentials Quiz

Bears uncertainty, buys labor and materials, and sells products at uncertain prices (correct)

Manages labor and materials, and sells products at fixed prices

Avoids uncertainty, buys labor and materials, and sells products at uncertain prices

Shares uncertainty, buys labor and materials, and sells products at uncertain prices

Sells existing products; follows traditional production techniques; avoids new markets

Struggles with product innovation; lacks production techniques; ignores market discovery

Supplies new products; makes new techniques of productions; discovers new markets (correct)

Reduces product variety; follows old production techniques; explores existing markets

Inability to recognize business opportunities, gather necessary resources, and take appropriate action

Ability to avoid business opportunities, gather unnecessary resources, and hesitate in taking action

Inability to evaluate business opportunities, gather necessary resources, and initiate appropriate action

Ability to see and evaluate business opportunities, gather necessary resources, and initiate appropriate action (correct)

<p>It involves innovation, investment in expansion in new markets, products, and techniques</p> Signup and view all the answers

<p>Reasonable risk</p> Signup and view all the answers