Innovation can best be defined as

the successful exploitation of new ideas.

Good entrepreneurs create inventions for what reason? Choose the best one.

for a safer and more convenient environment

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Entrepreneurship

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Questions 10

Answers

1
Which could provide an individual with the motivation to start a new business venture?
Risk taking
The financial rewards.
All the above.
A desire to be independent.
2
A new venture's business plan is important because
Can help demonstrate the viability of the venture.
Provides a guide for business activities by defining objectives.
All the above.
It helps to persuade others to commit funding to the venture.
3
Which of the following is the reason for business failure?
All the above.
Lack of market research.
Poor management.
Poor financial control.
4
Trademarks relate to
Practice and knowledge acquired through experience
The protection of proprietary information of commercial value
Brand identity
The right to reproduce one's own original work
5
An individual who starts, creates, and manages a new business can be called
a professional
a manager
a leader
An entrepreneur
6
Why are small businesses important to a country's economy?
They can be innovators of new products.
They can provide specialist support to larger companies.
All the above.
They give an outlet for entrepreneurs
7
The use of informal networks by entrepreneurs to gather information is known as
Marketing
networking
Secondary research
Informal parameters.
8
Innovation can best be defined as
the evolution of new ideas.
the successful exploitation of new ideas.
the generation of new ideas.
the opposite of creativity.
9
Good entrepreneurs create inventions for what reason? Choose the best one.
to benefit from it finantially
for a safer and more convenient environment
For fame
For fun
10
Entrepreneurs are motivated by
All the above
pull influences.
money.
personal values

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