12 Questions
What is the primary goal of an entrepreneur?
To create a profitable business
Which of the following is NOT a key characteristic of an entrepreneur?
Risk aversion
What is the initial investment made by an entrepreneur?
An idea or concept
Which of the following best describes the role of an entrepreneur in an economy?
Anticipating market needs and introducing new products or services
What is the primary source of an entrepreneur's rewards?
Profits from the business
What is the primary factor that makes entrepreneurship a risky endeavor?
Uncertainty of idea success
What is the primary role of an entrepreneur?
Innovating and creating new products or services
What do the terms 'customers' and 'consumers' refer to in the context of entrepreneurship?
Customers are the buyers, and consumers are the users of the product
Which economist is considered the 'father of the Theory of Entrepreneurship'?
Richard Cantillon
What does the term 'capital' refer to in the context of entrepreneurship?
The buildings, machinery, equipment, and tools used in production
What is a key characteristic of an entrepreneur?
Both risk-taking and leadership
Which of the following economists is NOT mentioned in the text as having touched on the concept of entrepreneurship?
Karl Marx
Explore the concept of entrepreneurship and entrepreneurs through this quiz. Learn about the act of creating businesses, driving economic growth, assuming risks, and transforming resources into goods or services.
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