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Overview of Entrepreneurship Review Flashcards | StudBud
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Overview of Entrepreneurship Review
Overview of Entrepreneurship Review
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Review quiz for Intro to Entrepreneurship
Flashcards
17 cards
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Practice quiz
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Questions
17
Answers
1
What is at the heart of the entrepreneurship process?
Innovation and creativity
Opportunity recognition
Marshalling resources
Team work
2
Entrepreneurship is the process of getting into and operating a business of one's own. T or F?
True
False
3
Which of the following is NOT a characteristic of a free enterprise system?
Anyone can start a business
Plenty of competition
Resources are controlled by the government
Consumers have choices
4
Successful entrepreneurs are not gamblers; they ________________.
like a regular routine
are impulsive
take calculated risks
reckless
5
Entrepreneurs are the mechanism by which our economy turns supply into demand. T or F?
True
False
6
Entrepreneurs who continually look for new ways to solve problems are _______________.
Persistent
Creative
Self-demanding
Independent
7
Entrepreneurship does not occur in the public sector. True or False?
False
True
8
Which of the following is NOT a persistent myth about entrepreneurs?
Entrepreneurs are gamblers
Solo entrepreneurs limit their growth potential
Leaders are born, not made
Entrepreneurs should be young and energetic
9
Entrepreneurs who have high expectations for themselves are ________.
Self-demanding
Creative
Independent
Persistent
10
Most entrepreneurs find themselves working long hours, especially during start-up. T or F?
True
False
11
Bootstrapping is defined as __________________.
Putting one foot in front of another every day
recognizing potential business opportunities
Using available resources to start a business
Borrowing large amounts of money to start a business
12
Entrepreneurs who are willing to work until a job is done are ___________.
Self-demanding
Creative
Independent
Persistent
13
What do most entrepreneurs run out of most quickly when launching a new business?
Customers
Cash
Sales
Employees
14
Entrepreneurs who want to set their own agendas and schedules and make their own decisions are
Creative
Self-demanding
Persistent
Independent
15
Entrepreneurship is the process of starting, opening and growing a business. T or F?
False
True
16
In order to learn from mistakes, successful entrepreneurs seek and use ________________.
manuals
feedback
investors
YouTube videos
17
Failure is part of the dynamics of innovation and economic renewal. True or False?
False
True
