The Entrepreneurship Knowledge Challenge
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Questions and Answers

Which of the following best defines entrepreneurship?

  • The extraction of economic value
  • The process of setting up a business (correct)
  • The willingness to develop a business venture
  • The creation of new ideas and goods

    • What is an entrepreneur?

  • An individual who creates new ideas and goods
  • An individual who takes risks in business (correct)
  • An individual who manages a business venture
  • An individual who invests in businesses

    • How is entrepreneurship different from starting a business?

  • Entrepreneurship is the same as starting a small business
  • Entrepreneurship involves more risks than starting a business
  • Entrepreneurship requires innovation and new ideas (correct)
  • Entrepreneurship focuses on economic values only

    • What is the narrower definition of entrepreneurship?

    <p>The process of designing, launching, and running a new business</p> Signup and view all the answers

    What are the people who create businesses often referred to as?

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

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