Question 1

Say you are sitting in class and the professor is saying something that is contradictory to what you believe to be true. Since it contradicts what you believe,you do not think it is important. Your actions represent

Accepted Answer

A)  control of illusion. 
B)  prototypes. 
C)  the Sony phenomenon. 
D)  confirmation bias. 
E)  vehicle creativity.

Question 2

Some people are more likely than others to recognize opportunities because they have better access to certain kinds of information and they are able to utilize this information once they have it.

Accepted Answer

A) True 
 B)False

Question 3

Any idea for a new product,service,raw material,market or production process that can be successfully exploited so as to generate financial benefits for stakeholders has been viewed as constituting an opportunity. This definition of an opportunity is stated in

Accepted Answer

A)  market terms. 
B)  economic terms. 
C)  stakeholder terms. 
D)  production terms. 
E)  all of the above.

Question 4

Assume that you are remembering the first time you met a particular person. In recalling this memory,you are using

Accepted Answer

A)  factual knowledge. 
B)  working knowledge. 
C)  prototype knowledge. 
D)  recall entrepreneurship. 
E)  creative intelligence.

Question 5

The process through which individuals conclude that they have identified the potential to create something new that has the capacity to generate economic value is called

Accepted Answer

A)  idea generation. 
B)  creativity. 
C)  human cognition. 
D)  opportunity recognition. 
E)  none of the above.

Question 6

Telling someone the distance between Nashville and Memphis would be an example of

Accepted Answer

A)  procedural memory. 
B)  working memory. 
C)  factual information. 
D)  surface knowledge. 
E)  none of the above.

Question 7

Ideas occur when individuals use existing knowledge they have gained from their experience to generate something new.

Accepted Answer

A) True 
 B)False

Question 8

The confluence approach suggests that basic cognitive processes underlie creative thought.

Accepted Answer

A) True 
 B)False

Question 9

Assume that you just looked in your address book to find where a friend lives. Then you walk down the street to find that address. In remembering the address while you are looking for it,you are using

Accepted Answer

A)  factual knowledge memory. 
B)  long-term memory. 
C)  working memory. 
D)  complementary memory. 
E)  prototypes.

Question 10

There are many ways of gaining a broad and rich knowledge base,but research findings indicate that among the most useful from the point of view of becoming an entrepreneur is

Accepted Answer

A)  having varied work experience. 
B)  having lived in many different places. 
C)  having a broad social network. 
D)  all of the above. 
E)  none of the above.

Question 11

The field of cognitive science suggests

Accepted Answer

A)  that creativity emerges out of the confluence of several basic resources. 
B)  that the intelligence required by entrepreneurs to be creative and to found successful new ventures is much richer and more multifaceted than the kind measured by standard IQ tests. 
C)  that basic cognitive processes underlie creative thought. 
D)  that entrepreneurs need creative intelligence, practical intelligence, and analytic intelligence to be truly successful. 
E)  that entrepreneurs posses a mental framework that assists them in being alert to opportunities.

Question 12

A person hears the phrase "small business." She immediately thinks of all the family-owned businesses she knows about. She is using prototypes to interpret the meaning of small business.

Accepted Answer

A) True 
 B)False

Question 13

According to the confluence approach,creativity can emerge out of the convergence of several basic resources,including

Accepted Answer

A)  intellectual abilities. 
B)  a broad and rich knowledge base. 
C)  an appropriate style of thinking. 
D)  personality attributes. 
E)  all of the above.

Question 14

Successful intelligence refers to a combination of creative intelligence,practical intelligence,and analytic intelligence.

Accepted Answer

A) True 
 B)False

Question 15

Intelligence is an individual's ability to understand complex ideas,learn from experience,adapt effectively to the world around them,engage in various forms of reasoning,and to overcome a wide range of obstacles.

Accepted Answer

A) True 
 B)False

Question 16

A basic finding in entrepreneurship research is that the more experience people have in a given field,

Accepted Answer

A)  the more likely they are to be aware of competitors' strategies. 
B)  the less likely they are to be aware of existing competitors. 
C)  the less likely they are to spot obvious opportunities. 
D)  the more likely they are to identify opportunities in it. 
E)  the more likely they are to over saturate the market.

Question 17

Many entrepreneurs get their start by noticing a need that is not now being met for some people or businesses,and then filling that need - hopefully better than anyone else can.

Accepted Answer

A) True 
 B)False

Question 18

Define creativity and discuss its importance,concepts,and hierarchical networks.

Accepted Answer

The answer of Define creativity and discuss its importance,concepts,and hierarchical...

Question 19

Janet needs to make an important decision about managing her business. As she thinks about the situation,she quickly recalls a similar situation in a friend's business. Because she thinks the friend's situation and hers are similar,she decides to take the same action that her friend did;to use her friend's actions as simple rules to help her through the complicated decision. Unfortunately,Janet is not aware that there was another major factor in her friend's situation that influenced the decision heavily. Which of the following best describes what Janet is using in this situation?

Accepted Answer

A)  Illusion of control. 
B)  Planning fallacy. 
C)  Confirmation bias. 
D)  Signal Detection Theory. 
E)  Availability heuristic.

Question 20

Research shows that people generally cannot be taught to be better able to recognize opportunities.

Accepted Answer

A) True 
 B)False

Exam 3: Cognitive Foundations of Entrepreneurship: Creativity and Opportunity Recognition

Say you are sitting in class and the professor is saying something that is contradictory to what you believe to be true. Since it contradicts what you believe,you do not think it is important. Your actions represent

Some people are more likely than others to recognize opportunities because they have better access to certain kinds of information and they are able to utilize this information once they have it.

Any idea for a new product,service,raw material,market or production process that can be successfully exploited so as to generate financial benefits for stakeholders has been viewed as constituting an opportunity. This definition of an opportunity is stated in

Assume that you are remembering the first time you met a particular person. In recalling this memory,you are using

The process through which individuals conclude that they have identified the potential to create something new that has the capacity to generate economic value is called

Telling someone the distance between Nashville and Memphis would be an example of

Ideas occur when individuals use existing knowledge they have gained from their experience to generate something new.

The confluence approach suggests that basic cognitive processes underlie creative thought.

Assume that you just looked in your address book to find where a friend lives. Then you walk down the street to find that address. In remembering the address while you are looking for it,you are using

There are many ways of gaining a broad and rich knowledge base,but research findings indicate that among the most useful from the point of view of becoming an entrepreneur is

The field of cognitive science suggests

A person hears the phrase "small business." She immediately thinks of all the family-owned businesses she knows about. She is using prototypes to interpret the meaning of small business.

According to the confluence approach,creativity can emerge out of the convergence of several basic resources,including

Successful intelligence refers to a combination of creative intelligence,practical intelligence,and analytic intelligence.

Intelligence is an individual's ability to understand complex ideas,learn from experience,adapt effectively to the world around them,engage in various forms of reasoning,and to overcome a wide range of obstacles.

A basic finding in entrepreneurship research is that the more experience people have in a given field,

Many entrepreneurs get their start by noticing a need that is not now being met for some people or businesses,and then filling that need - hopefully better than anyone else can.

Define creativity and discuss its importance,concepts,and hierarchical networks.

Research shows that people generally cannot be taught to be better able to recognize opportunities.