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2C - BSN - SEM 1 > ENTREP - GEE2 > Flashcards

ENTREP - GEE2 Flashcards

1
Q

If a person has a growth mindset, it has a chance to

A

gain the benefit of higher resilience and adaptability; and better financial management for entrepreneurs.

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2
Q

Growth mindset encourages students or people to

A

learn from failures and setbacks for the future.

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3
Q

Growth mindset is __________________ This leads to ______________________

A

an intelligence that can be developed.

a desire to learn.

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3
Q

Fixed mindset has a static when it comes to their intelligence and this leads to

A

a desire to look smart and therefore a tendency to fail in achieving success.

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4
Q

When a student or entrepreneur is willing to calculate risk and making informed decision, she/he has a

A

risk-taker behavior

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5
Q

Growth mindset can reach ever higher levels of achievement. All this give them ___________

A

a greater sense of free will.

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6
Q

STONE AGE also known as

A

STONE AGE = PALEOLITHIC AGE

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6
Q

shows that the brain is meallable, also can exposed in promoting, the right strategies and advice, effort and experience.

A

NEUROSCIENCE DATA

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7
Q

is feeling before thinking or feelings through decision making.

A

INTUITION

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8
Q

The earliest stage of entrepreneurship began when

A

early humans developed hunting tools.

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9
Q

led humans to the extinction of big animals.

A

Agricultural revolution

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9
Q

The urbanization started and the economies became industrialized.

A

INDUSTRIAL REVOLUTION

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10
Q

this era characterize information as commodity and easily with computer technology.

A

INFORMATION AGE

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11
Q

The most important of the changes that brought about the Industrial Revolution were
IUA

A

(1) the invention of machines to do the work of hand tools, (2) the use of steam and later of other kinds of power, and (3) the adoption of the factory system.

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12
Q

Stone Age wars may have started later when humans began settling and established economic currency in the form of

A

AGRICULTURAL GOODS

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13
Q

According to ________, an entrepreneur is someone who buys goods and materials at current prices to sell at uncertain prices in the future:

A

RICHARD CANTILLON

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14
Q

is best known for his theories on business cycles and the development of capitalist economies, and for introducing the concept of entrepreneurship.

A

JOSEPH SCHUMPETER

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15
Q

Cantillon’s 1755 definition of an entrepreneur as

A

“one who undertakes something” is considered the first formal definition of the term.

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16
Q

Entrepreneurs are considered to be risk-takers who are proactive in trade and travel.

A

RISK-TAKERS

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17
Q

Cantillon believed that successful entrepreneurs help to achieve market equilibrium.

A

MARKET EQUILIBRIUM

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18
Q

Entrepreneurs are self-regulating based on profit and loss.

A

SELF-REGULATING

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19
Q

Cantillon believed that entrepreneurs play a key role in the economy.

A

KEY ROLE IN THE ECONOMY

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20
Q

was an economist who highlighted the role of innovation in economic development:

A

JOSEPH SCHUMPETER

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21
Q

In his ____book Capitalism, Socialism and Democracy, Schumpeter introduced the idea of an innovation economy. He believed that economic growth was driven by technological changes, entrepreneurs, and evolving institutions.

A

INNOVATION ECONOMY (1942)

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22
Q

Schumpeter believed that the process of innovation, or _______________________, was a vital part of capitalism. He described this process as one that continuously creates a new economic structure while destroying the old one.

A

CREATIVE DESTRUCTION

23
Q

Schumpeter believed that entrepreneurs were the key to capitalism and the source of innovation. He said that ___________________ was the driving force behind a capitalist economy

A

ENTREPRENEURSHIP

24
Q

Schumpeter believed that carrying out innovations was the most important function in history. He said that entrepreneurship was what replaced the current _____________________________

A

Pareto optimum with something new

FUNDAMENTAL FUNCTION

25
Q

____________________ emphasized that demand and supply determine the ___________________________________________________________________

A

Alfred Marshall

price and output of a good in neoclassical theory of entrepreneurs

26
Q

Frank Knight’s theory of profit is based on the

A

idea that entrepreneurs earn profits by making decisions in an uncertain environment.

27
Q

Frank Knight believed that profit is a reward for taking on __________

A

uninsurable risks.

28
Q

Knight’s theory is similar to the ______________

A

modern definition of profit.

29
Q

The Big Five personality traits are a psychological model that describes personality in terms of five key dimensions:

A

OPENNESS
CONSCIENTIOUSNESS
EXTRAVERSION
AGREEABLENESS
NEUROTICISM

29
Q

A person’s openness to new experiences, complexity, and depth

A

OPENNESS

30
Q

A person’s level of direction

A

CONSCIENTIOUSNESS

30
Q

A person’s tendency to be extraverted or introverted

A

EXTRAVERSION

31
Q

A person’s tendency to be agreeable or antagonistic

A

AGREEABLENESS

31
Q

A person’s emotional stability and general temper

A

NEUROTICISM

32
Q

The relationship between the Big Five personality traits and self-efficacy suggests that higher levels of extraversion, openness, agreeableness, and conscientiousness are associated with _________

while higher levels of neuroticism are associated with _____________________

A

GREATER SELF-EFFICACY

LOWER SELF EFFICACY

33
Q

They are committed to their goals and visualize success scenarios.

A

SET CHALLENGING ROLES

34
Q

Entrepreneurs with high self-efficacy are more likely to: 8 - (SPBIBEWI)

A

SET CHALLENGING ROLES
PERSEVERE
BE PERSISTENT
IDENTIFY OPPORTUNITIES
BUILD RELATIONSHIPS
EXERCISE SELF-CONTROL
WITHSTAND SETBACKS
INVEST SUFFICIENT EFFORTS

35
Q

They put in more effort when they fail to master a challenge.

A

PERSEVERE

36
Q

They are certain about their possibilities of success.

A

BE PERSISTENT

37
Q

They are able to spot and grab business opportunities.

A

IDENTIFY OPPORTUNITIES

38
Q

They build trustworthy relationships.

A

BUILD RELATIONSHIPS

39
Q

They exercise self-control in their job and finances.

A

EXERCISE SELF-CONTROL

40
Q

They are able to withstand setbacks and persistently work toward solving challenges.

A

WITHSTAND SETBACKS

41
Q

They invest sufficient efforts in their chosen business strategy.

A

INVEST SUFFICIENT EFFORTS

42
Q

is an individual’s belief in their ability to perform a task or course of action. It is a key motivator that a person must have in order to run a successful organization.

A

SELF-EFFICACY

43
Q

People with high self-efficacy are more motivated to work hard and persevere through challenges.

A

MOTIVATION

43
Q

Higher levels of self-efficacy are often associated with a number of positive outcomes, including:

6 - MRAHBS

A

MOTIVATION
RESILIENCE
ACHIEVEMENT
HEALTHY LIFESTYLE
BETTER DECISION MAKING
SOCIAL CHANGE

44
Q

People with high self-efficacy are more resilient to stress and adversity.

A

RESILIENCE

45
Q

People with high self-efficacy are more likely to set and achieve challenging goals.

A

ACHIEVEMENT

46
Q

People with high self-efficacy are more likely to have healthy lifestyle habits.

A

HEALTHY LIFESTYLE

46
Q

People with high self-efficacy are more likely to be involved in social change.

A

SOCIAL CHANGE

47
Q

People with high self-efficacy are more confident in their problem-solving abilities and are better able to make decisions.

A

BETTER DECISION MAKING

48
Q

The process whereby the brain is able to change through efforts, experiences, and
exposure to external influences.

A

BRAIN PLASTICITY

49
Q

Joseph Schumpeter’s work referring to the way innovation destroys the markets
and their old ways of running.

A

CREATIVE DESTRUCTION

50
Q

Studies that study data at one particular moment.

A

CROSS-SECTIONAL STUDIES

51
Q

The sense that intelligence and abilities are fixed and incapable of changing with
effort.

A

FIXED MINDSET

52
Q

Studies following the same people or entities for a while.

A

LONGITUDINAL STUDIES

53
Q

Alfred Marshall, who paid much attention to resource allocation and Frank Knight,
whose focus was on risk-bearing roles in entrepreneurship.

A

NEURO CLASSICAL THEORIES OF ENTREPRENEURSHIP

54
Q

It is a notion associated with factors such as conscientiousness and self-efficacy,
permitting successful goal achievement.

A

ENTREPRENEURIAL PERSISTENCE

2C - BSN - SEM 1 (30 decks)

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