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Entrepreneurship III Flashcards | StudBud
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Entrepreneurship III
Entrepreneurship III
15 terms
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Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
Consumers and workers act entrepreneurially
False
True
2
Language is an institution
True
False
3
The bridge between the internal real of subjective valuations and the external realm of econ. calculations consists of
money and free exchanges
law and institutions
money and entrepreneurship
tacit knowledge and practical knowledge
4
There is a tendency that we tend to achieve our ends if there is entrepreneurial freedom
False
True
5
Society is among others things (mark wrong option)
a highly complex process
it is dynamic and fueld by entrepreneurship
constituted of human interactions
made possible by the state
6
In order to increase human knowledge we must (mark wrong answer)
increase spending on public education
increase in specialisation
increase in numbers
have liberty
7
The entrepreneurial act (mark wrong answer)
creates new maladjustments
coordinates
creates new profit opportunities
stops when all profit opportunities are exploited
8
the exercise of entrepreneurship requires rules of behaviour
False
True
9
Law is created by the state
True
False
10
Person A is a better deerhunter than person B. PersonB is a worse gatherer of orangs thn A.Is specialisation beneficial?
No
Only if there are learning effects
When there is an increase in population
Most likely yes
11
We can be few and rich or many and poor
False
True
12
Arbitrage is entrepreneurship exercised
all in the same moment in space, as perceived by the actor
between different moments in time, as perceived by the actor
all in the same moment in time, as perceived by the actor
between different geographical locations, as perceived by the actor
13
Entrepreneurship is inherently competitive because it is
leads to perfect competition
it eradicates profits
a process of rivalry
coordinating
14
Speculation is entrepreneurship exercised
in the same moment of time, as perceived by the actor
between different moments in time as perceived by the actor
by greedy capitalists
between different geographical locations as perceived by the actor
15
the entrepreneurial estimate of the results of different courses of actions (in monetary units) is called
economic calculation
entrepreneurial profit
the ordinal realm
the cardinal realm
