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Entrepreneurship - Midterm questions with 100% correct answers rated A+
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Entrepreneurship - Midterm questions with 100% correct answers rated A+
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Entrepreneurship - MidtermOne of the most significant economic developments in recent business history relates to the ________. -
correct answer ✔✔entrepreneurial spirit
The Kauffman Foundation reports that nearly one out of ________ entrepreneurs in the United States
start businesses of their own because they cannot find jobs elsewhere. - correct answer ✔✔five
Globally, one in eight adults is actively engaged in launching a business. - correct answer ✔✔True
Current competitive conditions favor large companies over smaller ones because of their flexibility
combined with their ability to use their size to achieve efficiency and economies of scale. - correct
answer ✔✔False
Increased entrepreneurial activity is a phenomenon unique to the U.S. - correct answer ✔✔False
One study conducted by the Global Entrepreneurship Monitor (GEM) reports that nearly one in eight
people in the United States is working to start a business. - correct answer ✔✔True
The profile of an entrepreneur includes ________. - correct answer ✔✔All of these.
An entrepreneur is one who ________. - correct answer ✔✔creates a new business concept for the
purpose of achieving profit and growth by assembling the necessary resources to capitalize on identified
opportunities
All of the following are characteristics of the typical entrepreneur except ________. - correct answer
✔✔value of money over achievement
Entrepreneurs are characterized by ________. - correct answer ✔✔All of these
, Entrepreneurs who repeatedly start businesses and grow to a sustainable size before striking out again
are known as ________ entrepreneurs. - correct answer ✔✔serial
Entrepreneurs typically possess ________. - correct answer ✔✔a high level of commitment, have a
tolerance for ambiguity, are flexible and tenacious
Entrepreneurs who start businesses because they cannot find work any other way are ________. -
correct answer ✔✔necessity entrepreneurs
Research has isolated a set of characteristics that can predict who will succeed as an entrepreneur. -
correct answer ✔✔False
Serial entrepreneurs repeatedly start businesses and grow them to a sustainable size before striking out
again. - correct answer ✔✔True
Surveys show that small business owners believe that, as entrepreneurs, they work harder, earn more
money, and are happier than if they worked for a large company. - correct answer ✔✔True
The opportunity to reap impressive profits is the primary motivation for most entrepreneurs. - correct
answer ✔✔False
What is an entrepreneur? Give a brief profile of a typical entrepreneur. What is the primary motivation
for the typical entrepreneur? - correct answer ✔✔The typical profile of an entrepreneur includes a
desire for responsibility, confidence in the ability to succeed, determination, a high level of energy, desire
for immediate feedback, and a future orientation. The primary motivation for the typical entrepreneur is
the opportunity to create your own destiny.
In addition to the opportunity to create their own destiny and enjoy what they do, entrepreneurs also
benefit from the ability to ________. - correct answer ✔✔make a difference in an area important to
them and be recognized for those efforts
Ethical behavior is doing what is ________. - correct answer ✔✔"right"
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