Lesson 1 Entrepreneurship

Question 1

the act of creating a business or businesses while building and scaling it to generate a profit.

Answer 1

Entrepreneurship

Question 2

An important driver of economic growth and innovation

Answer 2

Entrepreneurship

Question 3

concrete manifestations of entrepreneurship.

Answer 3

Small and Medium Enterprises (SMEs)

Question 4

means “to undertake”

Answer 4

“ENTREPRENDRE”

Question 5

enterprise is created by

Answer 5

an entrepreneur.

Question 6

Having profits from bearing uncertainty and risk.

Answer 6

Knight (1921)

Question 7

Carrying out of new combinations of firm organization

Answer 7

Schumpeter (1934)

Question 8

Uncertainty bearing coordination of productive resources.

Answer 8

Hoselitz (1952):

Question 9

Purposeful activity to initiate and develop a profit-oriented business

Answer 9

Cole (1959)

Question 10

A kind of behavior that includes: (1) Initiative taking, (2) the organizing and reorganizing of social economic mechanism

Answer 10

Shapero (1975)

Question 11

Decisions and judgements about the coordination of scarce resources

Answer 11

Casson (1982)

Question 12

Dynamic process of creating incremental wealth

Answer 12

Ronstadt (1984)

Question 13

Behavior rather than personality trait

Answer 13

Drucker (1985)

Question 14

Process of creating something new with value by devoting the necessary time and effort

Answer 14

Hisrich & Brush (1985)

Question 15

Pursuit of opportunity without regard to resources currently controlled.

Answer 15

Stevenson & Grousebeck (1989)

Question 16

constrained by the founder’s previous choices and industry related experience

Answer 16

Hart, Stevenson, and Dial (1995)

Question 17

An activity that involves the discovery, evaluation, and exploitation of opportunities

Answer 17

Shane (2003)

Question 18

Dynamic process of vision, change, and creation

Answer 18

Kuratko (2009)

Question 19

Conceiving an opportunity to offer new or improved goods or services

Answer 19

Dyck and Neubert (2012)

Question 20

one of the friendliest countries for entrepreneurs in the world.

Answer 20

UNITED STATES

Question 21

manufacture different products that range from toys, gadgets and electronics, and cars.

Answer 21

CHINA

Question 22

a small country that controls a significant portion of the economy in Asia.

Answer 22

SINGAPORE

Question 23

exploring opportunities over the internet

Answer 23

CANADA

Question 24

a foundation and catalyst for economic growth and innovation across nations.

Answer 24

Entrepreneurship

Question 25

wood carving skills and entrepreneur are selling their products online.

Answer 25

Sanikiluaq

Question 26

plays a dominant role in the country’s economic landscape with the government providing the venue called Delhi Huts

Answer 26

INDIA

Question 27

is one of the countries in the Asia-Pacific rim with a strong base of entrepreneur led by the youth and the women.

Answer 27

INDIA

Question 28

encouraged here through the small and medium enterprise incubation centers for the purpose of nurturing young firms, new products, and technologies.

Answer 28

TAIWAN

Question 29

utilizes its human resources to make its economy the best possible through entrepreneurship

Answer 29

HONGKONG

Question 30

The extent of government support to entrepreneurs is very evident in

Answer 30

THAILAND

Question 31

. Tourism for the international markets and agricultural exports are two major sources of income generated by……

Answer 31

Thai entrepreneurs.

Question 32

This country emerged from the Asian financial crisis better than any other country

Answer 32

SOUTH KOREA

Question 33

This country is becoming friendlier to entrepreneurs

Answer 33

MALAYSIA

Question 34

taking moderate risks

Answer 34

Mc Leland (1961)

Question 35

common elements in all those entrepreneurship definitions

Answer 35

Innovation
Opportunity seeking and exploitation
Resource Mobilizing
Encountering risks and uncertainties
Economic and personal
Rewards