Question 1

Arcadia is opening her own bakery.Arcadia is most likely to be categorized as a(n)

Accepted Answer

A) manager. 
B) entrepreneur. 
C) angel broker. 
D) venture capitalist. 
A) manager. 
B) entrepreneur. 
C) angel broker. 
D) venture capitalist.

Question 2

Which of these focus on solving society's challenges through their businesses?

Accepted Answer

A) Classic entrepreneurs 
B) Change agents 
C) Atypical entrepreneurs 
D) Social entrepreneurs 
A) Classic entrepreneurs 
B) Change agents 
C) Atypical entrepreneurs 
D) Social entrepreneurs

Question 3

Riya works for a large bank that recently merged with another financial institution.Word of layoffs has been discussed.Riya is most likely to become an entrepreneur in order to

Accepted Answer

A) avoid taking risks. 
B) obtain job security. 
C) have employment as a cushion for failures. 
D) guarantee financial success. 
A) avoid taking risks. 
B) obtain job security. 
C) have employment as a cushion for failures. 
D) guarantee financial success.

Question 4

A serial entrepreneur is a person who starts a business to gain flexibility in work hours and control over his or her life.

Accepted Answer

A) True 
 B)False

Question 5

________ recognize a societal problem and use business principles to develop innovative solutions.

Accepted Answer

A) Serial entrepreneurs 
B) Classic entrepreneurs 
C) Change agents 
D) Social entrepreneurs 
A) Serial entrepreneurs 
B) Classic entrepreneurs 
C) Change agents 
D) Social entrepreneurs

Question 6

Felipe is an entrepreneur who takes personal responsibility for the success or failure of his actions rather than believing in luck or fate.Which characteristic best describes Felipe's entrepreneurial philosophy?

Accepted Answer

A) Internal locus of control 
B) Need to achieve 
C) Tolerance for failure 
D) Tolerance for ambiguity 
A) Internal locus of control 
B) Need to achieve 
C) Tolerance for failure 
D) Tolerance for ambiguity

Question 7

Cleopatra is an employee at Pegasys Inc.,a consulting firm.She uses the resources of the firm to expand and diversify into related fields.Cleopatra is most likely to be classified as a(n)

Accepted Answer

A) manager. 
B) entrepreneur. 
C) stock broker. 
D) venture capitalist. 
A) manager. 
B) entrepreneur. 
C) stock broker. 
D) venture capitalist.

Question 8

Which of the following is NOT one of the primary reasons why people become entrepreneurs?

Accepted Answer

A) To be one's own boss 
B) To achieve financial success 
C) To avoid taking risks 
D) To create one's own job security 
A) To be one's own boss 
B) To achieve financial success 
C) To avoid taking risks 
D) To create one's own job security

Question 9

Classic entrepreneurs are pioneers of innovations that benefit humanity.

Accepted Answer

A) True 
 B)False

Question 10

______ is an example of an innovation-driven economy.

Accepted Answer

A) India 
B) Nigeria 
C) Italy 
D) Mexico 
A) India 
B) Nigeria 
C) Italy 
D) Mexico

Question 11

Which of these refers to an overall idea for how to convert a business idea into a success?

Accepted Answer

A) Creativity 
B) Internal locus of control 
C) Vision 
D) Tolerance for ambiguity 
A) Creativity 
B) Internal locus of control 
C) Vision 
D) Tolerance for ambiguity

Question 12

Which of the following individual is most likely to succeed as an entrepreneur?

Accepted Answer

A) Marcel who cannot tolerate failures 
B) Philip who has an aversion for taking risks 
C) Fiona who blames others for her failures 
D) Gina who is driven by the need to excel 
A) Marcel who cannot tolerate failures 
B) Philip who has an aversion for taking risks 
C) Fiona who blames others for her failures 
D) Gina who is driven by the need to excel

Question 13

Social entrepreneurs recognize a societal problem and use business principles to develop innovative solutions.

Accepted Answer

A) True 
 B)False

Question 14

A(n)______ is a person who starts a business to gain flexibility in work hours and control over his or her life.

Accepted Answer

A) lifestyle entrepreneur 
B) serial entrepreneur 
C) social entrepreneur 
D) intrapreneur 
A) lifestyle entrepreneur 
B) serial entrepreneur 
C) social entrepreneur 
D) intrapreneur

Question 15

Jennifer Hyman,the founder of Rent the Runway,exemplifies the concept of

Accepted Answer

A) social entrepreneurship. 
B) classic entrepreneurship. 
C) skunk workers. 
D) intrapreneurship. 
A) social entrepreneurship. 
B) classic entrepreneurship. 
C) skunk workers. 
D) intrapreneurship.

Question 16

Financial success

Accepted Answer

A) rarely results from starting a business. 
B) is part of the appeal of becoming an entrepreneur. 
C) plays little role in motivating people to become entrepreneurs. 
D) is virtually guaranteed if people work hard enough starting their own businesses. 
A) rarely results from starting a business. 
B) is part of the appeal of becoming an entrepreneur. 
C) plays little role in motivating people to become entrepreneurs. 
D) is virtually guaranteed if people work hard enough starting their own businesses.

Question 17

Which of these statement is NOT correct concerning education and entrepreneurs?

Accepted Answer

A) Today,many U.S.universities offer full-fledged majors in entrepreneurship. 
B) A number of schools offer opportunities to intern with a start-up. 
C) One needs to have an entrepreneurship major in order to launch a start-up. 
D) Highly motivated self-starters are often found in an entrepreneurship major. 
A) Today,many U.S.universities offer full-fledged majors in entrepreneurship. 
B) A number of schools offer opportunities to intern with a start-up. 
C) One needs to have an entrepreneurship major in order to launch a start-up. 
D) Highly motivated self-starters are often found in an entrepreneurship major.

Question 18

Which of the following demographic/economic trends has increased the opportunities for entrepreneurs?

Accepted Answer

A) Stagnating wages 
B) Steady interest rates 
C) Aging population 
D) Increase in wages 
A) Stagnating wages 
B) Steady interest rates 
C) Aging population 
D) Increase in wages

Question 19

Who is an entrepreneur?

Accepted Answer

A) An entrepreneur is a risk taker in the private enterprise system. 
B) An entrepreneur is a gambler in the private enterprise system. 
C) An entrepreneur does not tolerate ambiguity. 
D) An entrepreneur does not tolerate failures. 
A) An entrepreneur is a risk taker in the private enterprise system. 
B) An entrepreneur is a gambler in the private enterprise system. 
C) An entrepreneur does not tolerate ambiguity. 
D) An entrepreneur does not tolerate failures.

Question 20

Unfortunately,most entrepreneurs are skeptical of using social media to promote their businesses.

Accepted Answer

A) True 
 B)False

Arcadia is opening her own bakery.Arcadia is most likely to be categorized as a(n)

Which of these focus on solving society's challenges through their businesses?

Riya works for a large bank that recently merged with another financial institution.Word of layoffs has been discussed.Riya is most likely to become an entrepreneur in order to

A serial entrepreneur is a person who starts a business to gain flexibility in work hours and control over his or her life.

________ recognize a societal problem and use business principles to develop innovative solutions.

Felipe is an entrepreneur who takes personal responsibility for the success or failure of his actions rather than believing in luck or fate.Which characteristic best describes Felipe's entrepreneurial philosophy?

Cleopatra is an employee at Pegasys Inc.,a consulting firm.She uses the resources of the firm to expand and diversify into related fields.Cleopatra is most likely to be classified as a(n)

Which of the following is NOT one of the primary reasons why people become entrepreneurs?

Classic entrepreneurs are pioneers of innovations that benefit humanity.

______ is an example of an innovation-driven economy.

Which of these refers to an overall idea for how to convert a business idea into a success?

Which of the following individual is most likely to succeed as an entrepreneur?

Social entrepreneurs recognize a societal problem and use business principles to develop innovative solutions.

A(n)______ is a person who starts a business to gain flexibility in work hours and control over his or her life.

Jennifer Hyman,the founder of Rent the Runway,exemplifies the concept of

Financial success

Which of these statement is NOT correct concerning education and entrepreneurs?

Which of the following demographic/economic trends has increased the opportunities for entrepreneurs?

Who is an entrepreneur?

Unfortunately,most entrepreneurs are skeptical of using social media to promote their businesses.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Business Today

Competing in World Markets

Forms of Business Ownership and Organization

Management,leadership,and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment,teamwork,and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Trends in E-Commerce

Filters

Exam 6: Starting Your Own Business: the Entrepreneurship Alternative

Arcadia is opening her own bakery.Arcadia is most likely to be categorized as a(n)

Which of these focus on solving society's challenges through their businesses?

Riya works for a large bank that recently merged with another financial institution.Word of layoffs has been discussed.Riya is most likely to become an entrepreneur in order to

A serial entrepreneur is a person who starts a business to gain flexibility in work hours and control over his or her life.

________ recognize a societal problem and use business principles to develop innovative solutions.

Felipe is an entrepreneur who takes personal responsibility for the success or failure of his actions rather than believing in luck or fate.Which characteristic best describes Felipe's entrepreneurial philosophy?

Cleopatra is an employee at Pegasys Inc.,a consulting firm.She uses the resources of the firm to expand and diversify into related fields.Cleopatra is most likely to be classified as a(n)

Which of the following is NOT one of the primary reasons why people become entrepreneurs?

Classic entrepreneurs are pioneers of innovations that benefit humanity.

______ is an example of an innovation-driven economy.

Which of these refers to an overall idea for how to convert a business idea into a success?

Which of the following individual is most likely to succeed as an entrepreneur?

Social entrepreneurs recognize a societal problem and use business principles to develop innovative solutions.

A(n)______ is a person who starts a business to gain flexibility in work hours and control over his or her life.

Jennifer Hyman,the founder of Rent the Runway,exemplifies the concept of

Financial success

Which of these statement is NOT correct concerning education and entrepreneurs?

Which of the following demographic/economic trends has increased the opportunities for entrepreneurs?

Who is an entrepreneur?

Unfortunately,most entrepreneurs are skeptical of using social media to promote their businesses.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Business Today

Competing in World Markets

Forms of Business Ownership and Organization

Management,leadership,and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment,teamwork,and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Trends in E-Commerce

Filters