Question 1

In general, venture capitalists say that they will take a ____ and a large market opportunity in a fast-growing area over a great idea any day

Accepted Answer

E

Question 2

Peter Drucker asserted, "The entrepreneurial mystique, it's not magic, it's not mysterious, and it has nothing to do with the genes. It is ____."

Accepted Answer

Drucker emphasized that entrepreneurship is about discipline, rather than being about innate talent, having a significant amount of money, a groundbreaking idea, a vast network, or a desire for independence.

Question 3

The chances of success for a new business startup are determined primarily by the size of the initial financial investment.

Accepted Answer

The success of a new business startup depends on a variety of factors including market demand, business model, management team, execution, and adaptability, not just the size of the initial financial investment.

Question 4

____ comprise over fifty percent of all small businesses in the United States. ​

Accepted Answer

Home-based businesses make up more than fifty percent of all small businesses in the United States, reflecting the growing trend of entrepreneurs starting and running their businesses from home, often due to lower overhead costs and the flexibility it offers.

Question 5

The most important element for success is abundant start-up capital.

Accepted Answer

While start-up capital is important, factors such as a solid business plan, a strong team, market demand, and the ability to adapt to changes are often more critical for long-term success.

Question 6

Research has enabled us to identify the characteristics of the typical entrepreneur. .

Accepted Answer

Research shows that entrepreneurs are diverse and do not fit a single set of characteristics; they come from various backgrounds and possess different traits and skills.

Question 7

Most of the great businesses that have been successful for at least 50 years (companies such as Walt Disney, Sony, and Merck)did not start with a/an:

Accepted Answer

The answer of Most of the great businesses that have...

Question 8

An entrepreneur who owns a minority or majority stake in several ventures is called a ____ entrepreneur.

Accepted Answer

A portfolio entrepreneur is someone who owns a minority or majority stake in several ventures simultaneously.

Question 9

All of entrepreneurship can be reduced to:

Accepted Answer

Entrepreneurship fundamentally revolves around people, both in terms of the entrepreneurs who start and run businesses and the teams they build to bring their visions to life. It involves understanding customer needs, working with employees, partners, and investors, and impacting the community and market.

Question 10

In an entrepreneurial endeavor, risk is correlated with reward; that is, the greater the risk taken, the greater the reward expected. ​

Accepted Answer

The answer of In an entrepreneurial endeavor, risk is correlated...

Question 11

Research has determined that effective and efficient business planning correlates with business success.

Accepted Answer

The answer of Research has determined that effective and efficient...

Question 12

The goal of most entrepreneurs is to reduce the level of ____ in any venture. ​

Accepted Answer

The primary goal of most entrepreneurs is to minimize the level of risk associated with their ventures, aiming to ensure stability and increase the likelihood of success.

Question 13

Entrepreneurship is a personal journey that begins in the mind of the nascent entrepreneur.

Accepted Answer

Entrepreneurship starts as a mental process, involving the recognition of opportunities, innovation, and the willingness to take risks, all of which originate in the entrepreneur's mindset before any action is taken.

Question 14

Entrepreneurship is for those under 30, not for older persons. ​

Accepted Answer

Entrepreneurship is not limited by age; many successful entrepreneurs start their businesses later in life, leveraging their experience, skills, and networks.

Question 15

What's more important than start-up capital is: ​

Accepted Answer

The answer of What's more important than start-up capital is:...

Question 16

Today many enterprising people are turning to nonprofit ventures to realize their entrepreneurial dreams.

Accepted Answer

Many individuals are increasingly engaging in nonprofit ventures as a means to fulfill their entrepreneurial aspirations, driven by a desire to address social, environmental, or community issues while applying innovative and sustainable business models.

Question 17

The Kauffman Index of Entrepreneurial Activity from 1996-2011 found that men and women in the ____ age bracket were responsible for more than 20% of all the entrepreneurial activity in the United States.

Accepted Answer

The Kauffman Index of Entrepreneurial Activity identified individuals in the 55-64 age bracket as being responsible for more than 20% of all entrepreneurial activity in the United States during the period from 1996-2011.

Question 18

In the United States, ____ entrepreneurship is most prevalent. ​

Accepted Answer

The answer of In the United States, ____ entrepreneurship is...

Question 19

One of the biggest problems that scientists and engineers face when they decide to consider entrepreneurship is the expectation that there should be formulas and straightforward "right or wrong" answers. ​

Accepted Answer

Entrepreneurship often involves navigating uncertain and complex environments where decisions cannot always be made based on formulas or clear-cut right or wrong answers, unlike the more structured and predictable problems faced in scientific or engineering disciplines.

Question 20

Home-based businesses do not qualify as "entrepreneurship." ​

Accepted Answer

Entrepreneurship encompasses the creation and management of a business venture to gain profit and growth, which includes home-based businesses.

Quiz 2: Preparing for the Entrepreneurial Journey

In general, venture capitalists say that they will take a ____ and a large market opportunity in a fast-growing area over a great idea any day

Peter Drucker asserted, "The entrepreneurial mystique, it's not magic, it's not mysterious, and it has nothing to do with the genes. It is ____."

The chances of success for a new business startup are determined primarily by the size of the initial financial investment.

____ comprise over fifty percent of all small businesses in the United States.

The most important element for success is abundant start-up capital.

Research has enabled us to identify the characteristics of the typical entrepreneur. .

Most of the great businesses that have been successful for at least 50 years (companies such as Walt Disney, Sony, and Merck) did not start with a/an:

An entrepreneur who owns a minority or majority stake in several ventures is called a ____ entrepreneur.

All of entrepreneurship can be reduced to:

In an entrepreneurial endeavor, risk is correlated with reward; that is, the greater the risk taken, the greater the reward expected.

Research has determined that effective and efficient business planning correlates with business success.

The goal of most entrepreneurs is to reduce the level of ____ in any venture.

Entrepreneurship is a personal journey that begins in the mind of the nascent entrepreneur.

Entrepreneurship is for those under 30, not for older persons.

What's more important than start-up capital is:

Today many enterprising people are turning to nonprofit ventures to realize their entrepreneurial dreams.

The Kauffman Index of Entrepreneurial Activity from 1996-2011 found that men and women in the ____ age bracket were responsible for more than 20% of all the entrepreneurial activity in the United States.

In the United States, ____ entrepreneurship is most prevalent.

One of the biggest problems that scientists and engineers face when they decide to consider entrepreneurship is the expectation that there should be formulas and straightforward "right or wrong" answers.

Home-based businesses do not qualify as "entrepreneurship."

Quiz 2: Preparing for the Entrepreneurial Journey

In general, venture capitalists say that they will take a ____ and a large market opportunity in a fast-growing area over a great idea any day

Peter Drucker asserted, "The entrepreneurial mystique, it's not magic, it's not mysterious, and it has nothing to do with the genes. It is ____."

The chances of success for a new business startup are determined primarily by the size of the initial financial investment.

____ comprise over fifty percent of all small businesses in the United States. ​

The most important element for success is abundant start-up capital.

Research has enabled us to identify the characteristics of the typical entrepreneur. .

Most of the great businesses that have been successful for at least 50 years (companies such as Walt Disney, Sony, and Merck) did not start with a/an:

An entrepreneur who owns a minority or majority stake in several ventures is called a ____ entrepreneur.

All of entrepreneurship can be reduced to:

In an entrepreneurial endeavor, risk is correlated with reward; that is, the greater the risk taken, the greater the reward expected. ​

Research has determined that effective and efficient business planning correlates with business success.

The goal of most entrepreneurs is to reduce the level of ____ in any venture. ​

Entrepreneurship is a personal journey that begins in the mind of the nascent entrepreneur.

Entrepreneurship is for those under 30, not for older persons. ​

What's more important than start-up capital is: ​

Today many enterprising people are turning to nonprofit ventures to realize their entrepreneurial dreams.

The Kauffman Index of Entrepreneurial Activity from 1996-2011 found that men and women in the ____ age bracket were responsible for more than 20% of all the entrepreneurial activity in the United States.

In the United States, ____ entrepreneurship is most prevalent. ​

One of the biggest problems that scientists and engineers face when they decide to consider entrepreneurship is the expectation that there should be formulas and straightforward "right or wrong" answers. ​

Home-based businesses do not qualify as "entrepreneurship." ​

____ comprise over fifty percent of all small businesses in the United States.

In an entrepreneurial endeavor, risk is correlated with reward; that is, the greater the risk taken, the greater the reward expected.

The goal of most entrepreneurs is to reduce the level of ____ in any venture.

Entrepreneurship is for those under 30, not for older persons.

What's more important than start-up capital is:

In the United States, ____ entrepreneurship is most prevalent.

One of the biggest problems that scientists and engineers face when they decide to consider entrepreneurship is the expectation that there should be formulas and straightforward "right or wrong" answers.

Home-based businesses do not qualify as "entrepreneurship."