Question 1

Explain why a higher degree of persistence in working to overcome challenges might help a person to be a better entrepreneur.

Accepted Answer

Being a successful entrepreneur requires understanding and working with a large number of factors in developing an opportunity that results in commercial success - a profitable product or service in a business. In doing this,there almost certainly will be many things happening "all at once" and many challenges. A person who can handle the complex challenges and "keep at it" until it is successful will have a higher probability of being successful.

Question 2

Entrepreneurship is a field of study that seeks to understand how opportunities to create new products or services arise and are discovered by specific persons,who then use various means to exploit or develop them.

Accepted Answer

A) True 
 B)False  True

Question 3

In order to deal with the issue of causality,researchers in many fields turn to another technique known as________. This involves systematically changing one variable in order to see if such changes affect one or more other variables.

Accepted Answer

A)  experimentation. 
B)  systematic approach. 
C)  cause and effect implementation. 
D)  control monitoring. 
E)  adverse systems analysis. 
A)  experimentation. 
B)  systematic approach. 
C)  cause and effect implementation. 
D)  control monitoring. 
E)  adverse systems analysis. A

Question 4

At the 3 M Company,scientists are told to spend 15% of their working time on things that are not part of their "normally assigned tasks." That is,they are to experiment with materials in attempts to "come up with" new products;to be very creative. This is know as

Accepted Answer

A)  theory building. 
B)  entrepreneurship. 
C)  engine of economic growth. 
D)  social change. 
E)  intrapreneurship. 
A)  theory building. 
B)  entrepreneurship. 
C)  engine of economic growth. 
D)  social change. 
E)  intrapreneurship.

Question 5

Individual,group,and societal factors influence all phases of the entrepreneurial process. Given this information,which is more important,the micro approach or the macro approach?

Accepted Answer

A)  Neither approach is important to the entrepreneurial process. 
B)  Both the micro and macro approach are valuable and necessary to the process. 
C)  The macro approach is the more important approach. 
D)  The micro approach is the more important approach. 
E)  The micro approach is the more important, because their is no macro approach. 
A)  Neither approach is important to the entrepreneurial process. 
B)  Both the micro and macro approach are valuable and necessary to the process. 
C)  The macro approach is the more important approach. 
D)  The micro approach is the more important approach. 
E)  The micro approach is the more important, because their is no macro approach.

Question 6

Researchers employ a wide range of statistical techniques to help determine causality on the basis of other methods,such as systematic observation. One way to do this is to determine if one variable or change occurs before another. Something that occurs later in time cannot reasonably be the cause of something that occurred earlier. This concept,which can be used to establish the direction of causality in systematic observation,is called...

Accepted Answer

A)  "Granger Causality." 
B)  "Causality Consultant." 
C)  "Granger-Hall Approach." 
D)  "Peterson's test of Causality." 
E)  None of the above. 
A)  "Granger Causality." 
B)  "Causality Consultant." 
C)  "Granger-Hall Approach." 
D)  "Peterson's test of Causality." 
E)  None of the above.

Question 7

A hypothesis is

Accepted Answer

A)  a theory that has been supported by research evidence. 
B)  a prediction that has not yet been tested. 
C)  a prediction that has been tested and found to be true. 
D)  the same as an economic fact. 
E)  a theory that has not been found to not predict what actually happens. 
A)  a theory that has been supported by research evidence. 
B)  a prediction that has not yet been tested. 
C)  a prediction that has been tested and found to be true. 
D)  the same as an economic fact. 
E)  a theory that has not been found to not predict what actually happens.

Question 8

Intrapreneur refers to

Accepted Answer

A)  someone who starts a business and runs it from his or her house. 
B)  a person who invents a product to be used indoors. 
C)  a person who develops an innovative product or idea while working inside of an existing larger business. 
D)  a person who is employed by a larger business. 
E)  a person who has an idea for a new product but does not take steps to bring it to market. 
A)  someone who starts a business and runs it from his or her house. 
B)  a person who invents a product to be used indoors. 
C)  a person who develops an innovative product or idea while working inside of an existing larger business. 
D)  a person who is employed by a larger business. 
E)  a person who has an idea for a new product but does not take steps to bring it to market.

Question 9

One reason that more people are choosing to be entrepreneurs,rather than entering the workforce through pre-existing companies,is because many people in the younger generation prefer a job allowing them independence and freedom.

Accepted Answer

A) True 
 B)False

Question 10

There is some evidence that entrepreneurial people think and reason differently than other people. The different way of thinking and reasoning is part of what is known as

Accepted Answer

A)  micro analysis. 
B)  technology transfer. 
C)  observation. 
D)  entrepreneurial cognition. 
E)  experimentation. 
A)  micro analysis. 
B)  technology transfer. 
C)  observation. 
D)  entrepreneurial cognition. 
E)  experimentation.

Question 11

The field of entrepreneurship is closely linked to older and more established disciplines. Which of the following is NOT considered by the text to be one of those disciplines?

Accepted Answer

A)  Accounting. 
B)  Economics. 
C)  Behavioral Science. 
D)  Sociology. 
E)  Psychology. 
A)  Accounting. 
B)  Economics. 
C)  Behavioral Science. 
D)  Sociology. 
E)  Psychology.

Question 12

A "top-down" perspective that seeks to understand the entrepreneurial process by focusing largely on environmental factors that are mostly beyond the direct control of an individual is called the

Accepted Answer

A)  macro perspective. 
B)  micro perspective. 
C)  opportunity perspective. 
D)  external perspective. 
E)  internal perspective. 
A)  macro perspective. 
B)  micro perspective. 
C)  opportunity perspective. 
D)  external perspective. 
E)  internal perspective.

Question 13

Which of the following is NOT one of the principal means of acquiring knowledge?

Accepted Answer

A)  observation. 
B)  reflection. 
C)  transactional. 
D)  experimentation. 
E)  all of the above are the principal means of acquiring knowledge. 
A)  observation. 
B)  reflection. 
C)  transactional. 
D)  experimentation. 
E)  all of the above are the principal means of acquiring knowledge.

Question 14

Over a certain period of time,an entrepreneur changes the price of a specific product and tries to carefully measure what effect that change alone has on the number of that product that is sold. This process is known as

Accepted Answer

A)  reflection. 
B)  theorizing. 
C)  top down analysis. 
D)  systematic observation. 
E)  qualifying common sense. 
A)  reflection. 
B)  theorizing. 
C)  top down analysis. 
D)  systematic observation. 
E)  qualifying common sense.

Question 15

A "bottom-up" perspective that seeks to understand the entrepreneurial process by focusing on the behavior and thought of individuals or groups of individuals is known as the

Accepted Answer

A)  macro perspective. 
B)  micro perspective. 
C)  opportunity perspective. 
D)  external perspective. 
E)  internal perspective. 
A)  macro perspective. 
B)  micro perspective. 
C)  opportunity perspective. 
D)  external perspective. 
E)  internal perspective.

Question 16

While considering entrepreneurs,the kind of ideas people generate are the result of which of the following factors?

Accepted Answer

A)  the times in which they live. 
B)  the current state of technological knowledge. 
C)  the current state of the economy. 
D)  their friends, associates, and the media. 
E)  all of the above influence the ideas people generate. 
A)  the times in which they live. 
B)  the current state of technological knowledge. 
C)  the current state of the economy. 
D)  their friends, associates, and the media. 
E)  all of the above influence the ideas people generate.

Question 17

In order to understand entrepreneurship as a process,it is essential to consider which of the following factors?

Accepted Answer

A)  The economic, technological, and social conditions from which opportunities rise. 
B)  The people who recognize technological, economic, and social conditions from which opportunities rise 
C)  The business techniques and legal structures used to develop opportunities. 
D)  The economic and social effects produced by the realization of opportunities. 
E)  All of the above. 
A)  The economic, technological, and social conditions from which opportunities rise. 
B)  The people who recognize technological, economic, and social conditions from which opportunities rise 
C)  The business techniques and legal structures used to develop opportunities. 
D)  The economic and social effects produced by the realization of opportunities. 
E)  All of the above.

Question 18

The example in the textbook of Lorraine Santoli creating a new dispenser for tissues to be used in her car is not an example of entrepreneurship because it is not something "hot" or remarkable.

Accepted Answer

A) True 
 B)False

Question 19

The authors of the textbook mention that Alexander Graham Bell as an entrepreneur. However,they say that Mr.Bell "did not invent the telephone out of sheer creative genius," meaning that he did not invent the parts of the telephone from "scratch." If he did not invent the parts of the telephone,explain how he could have been an entrepreneur.

Accepted Answer

Being an entrepreneur includes identifyi

Question 20

The process of entrepreneurship involves a chain of events and activities that takes place over a period of time.

Accepted Answer

A) True 
 B)False

Explain why a higher degree of persistence in working to overcome challenges might help a person to be a better entrepreneur.

Entrepreneurship is a field of study that seeks to understand how opportunities to create new products or services arise and are discovered by specific persons,who then use various means to exploit or develop them.

In order to deal with the issue of causality,researchers in many fields turn to another technique known as________. This involves systematically changing one variable in order to see if such changes affect one or more other variables.

At the 3 M Company,scientists are told to spend 15% of their working time on things that are not part of their "normally assigned tasks." That is,they are to experiment with materials in attempts to "come up with" new products;to be very creative. This is know as

Individual,group,and societal factors influence all phases of the entrepreneurial process. Given this information,which is more important,the micro approach or the macro approach?

A hypothesis is

Intrapreneur refers to

One reason that more people are choosing to be entrepreneurs,rather than entering the workforce through pre-existing companies,is because many people in the younger generation prefer a job allowing them independence and freedom.

There is some evidence that entrepreneurial people think and reason differently than other people. The different way of thinking and reasoning is part of what is known as

The field of entrepreneurship is closely linked to older and more established disciplines. Which of the following is NOT considered by the text to be one of those disciplines?

A "top-down" perspective that seeks to understand the entrepreneurial process by focusing largely on environmental factors that are mostly beyond the direct control of an individual is called the

Which of the following is NOT one of the principal means of acquiring knowledge?

Over a certain period of time,an entrepreneur changes the price of a specific product and tries to carefully measure what effect that change alone has on the number of that product that is sold. This process is known as

A "bottom-up" perspective that seeks to understand the entrepreneurial process by focusing on the behavior and thought of individuals or groups of individuals is known as the

While considering entrepreneurs,the kind of ideas people generate are the result of which of the following factors?

In order to understand entrepreneurship as a process,it is essential to consider which of the following factors?

The example in the textbook of Lorraine Santoli creating a new dispenser for tissues to be used in her car is not an example of entrepreneurship because it is not something "hot" or remarkable.

The process of entrepreneurship involves a chain of events and activities that takes place over a period of time.

Entrepreneurial Opportunities: Their Origins, Forms, and Suitability For New Ventures

Cognitive Foundations of Entrepreneurship: Creativity and Opportunity Recognition

What Entrepreneurs Need to Know Before They Start: Acquiring and Interpreting Information About Markets Competitors and Government

Assembling the Team: Acquiring and Utilizing Essential Human Capital

Financial Resources For New Ventures: How To Get Them, How To Manage Them

Writing An Effective Business Plan: Building A Road Map to Success

Legal Issues Relating To New Ventures: Protecting Your Reputation, Your Assets, And Your Ideas

Marketing in a New Venture

Strategy: Planning For Competitive Advantage

Preparing For And Attaining Growth: Strategies For Building Lasting Success

Managing New Ventures For Growth

Exit Strategies For Entrepreneurs: The Concluding Act

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Exam 1: Entrepreneurship:: A Field, an Activity - and a Way of Life

Explain why a higher degree of persistence in working to overcome challenges might help a person to be a better entrepreneur.

Entrepreneurship is a field of study that seeks to understand how opportunities to create new products or services arise and are discovered by specific persons,who then use various means to exploit or develop them.

In order to deal with the issue of causality,researchers in many fields turn to another technique known as________. This involves systematically changing one variable in order to see if such changes affect one or more other variables.

At the 3 M Company,scientists are told to spend 15% of their working time on things that are not part of their "normally assigned tasks." That is,they are to experiment with materials in attempts to "come up with" new products;to be very creative. This is know as

Individual,group,and societal factors influence all phases of the entrepreneurial process. Given this information,which is more important,the micro approach or the macro approach?

A hypothesis is

Intrapreneur refers to

One reason that more people are choosing to be entrepreneurs,rather than entering the workforce through pre-existing companies,is because many people in the younger generation prefer a job allowing them independence and freedom.

There is some evidence that entrepreneurial people think and reason differently than other people. The different way of thinking and reasoning is part of what is known as

The field of entrepreneurship is closely linked to older and more established disciplines. Which of the following is NOT considered by the text to be one of those disciplines?

A "top-down" perspective that seeks to understand the entrepreneurial process by focusing largely on environmental factors that are mostly beyond the direct control of an individual is called the

Which of the following is NOT one of the principal means of acquiring knowledge?

Over a certain period of time,an entrepreneur changes the price of a specific product and tries to carefully measure what effect that change alone has on the number of that product that is sold. This process is known as

A "bottom-up" perspective that seeks to understand the entrepreneurial process by focusing on the behavior and thought of individuals or groups of individuals is known as the

While considering entrepreneurs,the kind of ideas people generate are the result of which of the following factors?

In order to understand entrepreneurship as a process,it is essential to consider which of the following factors?

The example in the textbook of Lorraine Santoli creating a new dispenser for tissues to be used in her car is not an example of entrepreneurship because it is not something "hot" or remarkable.

The process of entrepreneurship involves a chain of events and activities that takes place over a period of time.

Entrepreneurial Opportunities: Their Origins, Forms, and Suitability For New Ventures

Cognitive Foundations of Entrepreneurship: Creativity and Opportunity Recognition

What Entrepreneurs Need to Know Before They Start: Acquiring and Interpreting Information About Markets Competitors and Government

Assembling the Team: Acquiring and Utilizing Essential Human Capital

Financial Resources For New Ventures: How To Get Them, How To Manage Them

Writing An Effective Business Plan: Building A Road Map to Success

Legal Issues Relating To New Ventures: Protecting Your Reputation, Your Assets, And Your Ideas

Marketing in a New Venture

Strategy: Planning For Competitive Advantage

Preparing For And Attaining Growth: Strategies For Building Lasting Success

Managing New Ventures For Growth

Exit Strategies For Entrepreneurs: The Concluding Act

Filters