Chapter 1: Becoming An Entrepreneur
11 Questions
| Total Attempts: 79
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Quiz for Chapter 1 of the Kauffman text.
Questions and Answers
- 1.What are entrepreneurs?
- A.
People who interpret problems as opportunities
- B.
People who take action in response to needs
- C.
People who accept calculated risks in hopes of creating value
- D.
All of the above
- 2.True or False. Financial risks are always possible when starting a business.
- A.
True
- B.
False
- 3.What does Bill Gates mean when he says, "Big Wins Require Big Risks"?
- 4.What is an exit strategy? Define and give one example.
- 5.Which of the following is NOT a characteristic of entrepreneurs:
- A.
Careless
- B.
Desire
- C.
Responsible
- D.
Self-Discipline
- 6.True or False. Entrepreneurs should not have any knowledge in their chosen field.
- A.
True
- B.
False
- 7.A personal vision is:
- A.
Personal market assessment
- B.
Personal reality
- C.
Perosnal political views
- D.
Personal objectives or goals
- 8.Name three lifestyle criteria that should be considered in a personal vision.
- 9.True or False. Written goals help entrepreneurs work smarter.
- A.
True
- B.
False
- 10.What is a business plan and its major purpose?
- 11.A business plan also identifies potential r_________, p_____________, and trade-offs.
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