Question 1

Efficiency-driven economies are:

Accepted Answer

Efficiency-driven economies are found in countries that have well-established higher education, well-organized goods and labor markets, and the capacity to harness existing technologies.

Question 2

Which of the following is an example of an innovation-driven economy?

Accepted Answer

The United States is widely recognized as an innovation-driven economy due to its strong emphasis on research and development, technological advancements, and a high level of entrepreneurship.

Question 3

Owner financing, sweat equity, and minimization of the accounts receivable are the different types of:

Accepted Answer

Owner financing, sweat equity, and minimization of the accounts receivable are strategies associated with bootstrapping. Bootstrapping refers to funding a company by scraping together any personal funds, operating revenues, and minimal outside investment to grow the business, often characterized by a focus on cost-efficiency and reliance on internal resources rather than external funding sources.

Question 4

The probability of the success of a business venture depends:

Accepted Answer

The success of a business venture is multifaceted, requiring not just a good opportunity, but also the right entrepreneurial team to execute the vision, and the necessary resources and capabilities to bring the idea to fruition. No single factor can guarantee success; it's the combination of these elements that typically leads to a successful business venture.

Question 5

A(n)_____ is an affluent individual who provides capital for a business start-up.

Accepted Answer

An angel investor is an affluent individual who provides capital for a business start-up, often in exchange for convertible debt or ownership equity.

Question 6

Factor-driven economies are economies that are typical in countries that compete on the basis of:

Accepted Answer

Factor-driven economies primarily rely on unskilled labor and natural resources for their competitive advantage, rather than on advanced technology, innovation, or sophisticated business practices.

Question 7

Which of the following is true with regards to crowdfunding?

Accepted Answer

The answer of Which of the following is true with...

Question 8

The traditional firm:

Accepted Answer

The traditional firm typically starts its operations within the home country and over time, as it grows and matures, it may gradually expand into international markets. This evolutionary approach to international trade contrasts with more modern perspectives that advocate for a global or "borderless" view from the outset.

Question 9

_____ refer(s)to the annual assessment of the national level of entrepreneurial activity across countries, started as a partnership between London Business School and Babson College.

Accepted Answer

The Global Entrepreneurship Monitor (GEM) is the annual assessment that measures the national level of entrepreneurial activity across countries, initiated as a collaboration between London Business School and Babson College.

Question 10

A(n)_____ refers to a business organization that seeks to derive significant competitive advantage from the use of resources and the sale of outputs in multiple countries.

Accepted Answer

A born-global firm is a business organization that seeks to derive significant competitive advantage from the use of resources and the sale of outputs in multiple countries, often from its inception.

Question 11

Bias for action refers to:

Accepted Answer

Bias for action describes the tendency to make decisions or take action quickly without waiting for all the information to be available or conducting extensive analysis.

Question 12

Tom Peters and Robert Waterman, authors of "In Search of Excellence," identified _____ as a distinguishing feature of agile, entrepreneurial firms.

Accepted Answer

Tom Peters and Robert Waterman, in their book "In Search of Excellence," highlighted "bias for action" as a key characteristic of agile and entrepreneurial firms, emphasizing the importance of being proactive and quick to make decisions.

Question 13

Time and motion indicators:

Accepted Answer

Time and motion indicators are used to measure the efficiency and time taken to complete specific tasks or regulatory goals, often in the context of improving productivity and operational efficiency.

Question 14

Chad's economy is dependent on oil reserves and is very sensitive to world economic cycles, commodity prices, and fluctuations in exchange rates.Hence, one could term this economy as an example of:

Accepted Answer

Chad's economy is considered a factor-driven economy because it relies heavily on the export of a single or a few natural resources (in this case, oil reserves) and is sensitive to external economic factors such as commodity prices and exchange rates. Factor-driven economies are characterized by their dependence on unprocessed natural resources and basic production processes.

Question 15

The most common form of bootstrapping is:

Accepted Answer

Using a personal credit card for financing is the most common form of bootstrapping. It involves using personal resources to support and grow a business, which is a direct and immediate form of self-financing.

Question 16

Efficiency-driven economies are economies that are typical in countries that compete on the basis of:

Accepted Answer

Efficiency-driven economies focus on improving production processes and increasing product quality to enhance competitiveness.

Question 17

_____ refer(s)to a system that ranks nations quantitatively according to a weighted index of 12 assessed pillars.

Accepted Answer

The Global Competitiveness Index refers to a system that ranks nations quantitatively based on a weighted index of 12 assessed pillars, including infrastructure, macroeconomic environment, health and primary education, and more, to gauge their level of competitiveness.

Question 18

The pillars associated with _____ economies are institutions, infrastructure, macroeconomic stability, and health and primary education.

Accepted Answer

Factor-driven economies rely on basic requirements like institutions, infrastructure, macroeconomic stability, and health and primary education.

Question 19

The Brazilian economy competes on production and product quality.Therefore, one could term the Brazilian economy as an example of:

Accepted Answer

An efficiency-driven economy focuses on production processes and product quality to enhance competitiveness, which aligns with the description of the Brazilian economy in the question.

Question 20

Innovation-driven economies are economies that are typical in countries that compete on the basis of:

Accepted Answer

The answer of Innovation-driven economies are economies that are typical...

Quiz 11: Global Entrepreneurship and Intrapreneurship