Entrepreneurship Basics

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12 Questions

Kaldor’s Theory states that technology is an essential factor in ______

business

Leibenstein’s Theory emphasizes that entrepreneurs must be responsible for recognizing ______ trends

market

ENTREPRENEURSHIP is the art of observing correct practices in managing and operating ______-owned wealth-creating business enterprise

self

Kirzner’s Theory highlights that entrepreneurs must be alert and spontaneous in ______

learning

ENTREPRENEUR is an individual who accepts some sort of risk usually financial in pursuit of new ______

ventures

Entrepreneurship and small business differentiation includes the perception of risk where one either faces risk or ______ risk

avoids

THE CORE MEANING of an entrepreneur is a person who conceives and initiates the ______ idea

business

Misconception about the importance of entrepreneurship includes the belief that it only applies to ______

manufacturing

ENTERPRISE – the business being undertaken by the ______

entrepreneur

Sources of entrepreneurial ideas can come from changes in the environment, technological discovery, government programs, and personal experience and ______

interest

ENTREPRENEURIAL SKILL – a skill of a person who likes to innovates and puts his or her own ______

business

INTRAPRENEUR – an entrepreneur or a hired employee within an organization who innovates products for the ______

company

Test your knowledge on the fundamentals of entrepreneurship including the definition of entrepreneurship and the role of an entrepreneur in starting and managing a business. Explore the core concepts behind creating and running a successful business venture.

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