Question 1

Name the trends relevant to entrepreneurs as of 2012. Now, what four new trends are emerging?

Accepted Answer

Global economic turmoil, green power, the women's market and the Gen Y consumer movement called mass mingling. Although these are still  relevant, but four new trends have appeared: 1)digital anonymity, 2)domestic manufacturing, 3)big data and 4)the lean startup movement.

Question 2

Briefly describe what entrepreneurship is.

Accepted Answer

Entrepreneurship is a mindset or way of thinking that is opportunity-focused, innovative, and growth-oriented. Although entrepreneurship is most commonly thought of in conjunction with starting a business, the entrepreneurial mindset can be found within large corporations, in socially responsible nonprofit organizations, and anywhere that individuals and teams desire to differentiate themselves from the crowd and apply their passion and drive to executing a business opportunity.

Question 3

Data from the U.S. Census Bureau from 1998 to 2011 demonstrates that the _____ of the business is more important for job creation than the size of the business.

Accepted Answer

A) Savvy 
B) Age 
C) Expertise 
D) All of these choices are correct. 
E) None of these choices 
A) Savvy 
B) Age 
C) Expertise 
D) All of these choices are correct. 
E) None of these choices B

Question 4

The new millennium ushered in what many refer to as the ____.

Accepted Answer

A) technology economy 
B) information economy 
C) knowledge economy 
D) Internet economy 
E) dot com economy 
A) technology economy 
B) information economy 
C) knowledge economy 
D) Internet economy 
E) dot com economy

Question 5

New industries are born when technological change produces a/an ____ opportunity that an enterprising entrepreneur seizes.

Accepted Answer

A) investment 
B) novel 
C) crucial 
D) successful 
E) efficient 
A) investment 
B) novel 
C) crucial 
D) successful 
E) efficient

Question 6

Briefly discuss why so many more firms are created than an industry can support.

Accepted Answer

The uncertainty of not knowing

Question 7

Early economists recognized that ____ is the primary force behind rising standards of living and that ____ innovation would determine the success of many nations in the future.

Accepted Answer

A) technology / technological 
B) labor / growth 
C) manufacturing / distribution 
D) industry formation / job 
E) economic growth / invention 
A) technology / technological 
B) labor / growth 
C) manufacturing / distribution 
D) industry formation / job 
E) economic growth / invention

Question 8

Why must risk be considered when considering an entrepreneurial adventure?

Accepted Answer

Risk is an inherent part of the entire e

Question 9

Paul Romer asserted that technological change happens when am entrepreneur identifies:

Accepted Answer

A) New customer segments 
B) New customer needs 
C) Existing customer needs that have not been satisfied 
D) New ways of manufacturing and distributing products and services 
E) None of these choices 
A) New customer segments 
B) New customer needs 
C) Existing customer needs that have not been satisfied 
D) New ways of manufacturing and distributing products and services 
E) None of these choices

Question 10

Entrepreneurial ventures and small businesses are related, but they are not the same in most respects.

Accepted Answer

A) True 
 B)False

Question 11

The vital issue for entrepreneurs is not avoiding failure but minimizing the cost of a possible failure.

Accepted Answer

A) True 
 B)False

Question 12

Discuss/describe the knowledge economy of the 2000s. ​

Accepted Answer

Some characteristics include low-cost co

Question 13

Toward the end of the 1980s, researchers observed that young entrepreneurial ventures were ____ much earlier than expected and at a much smaller size.

Accepted Answer

A) internationalizing 
B) diversifying 
C) creating jobs 
D) restructuring 
E) failing 
A) internationalizing 
B) diversifying 
C) creating jobs 
D) restructuring 
E) failing

Question 14

Briefly explain how economic growth comes about.

Accepted Answer

Technological change

Question 15

Economic turmoil has a plus side because it produces opportunities for entrepreneurs who are comfortable with environmental factors outside their control.

Accepted Answer

A) True 
 B)False

Question 16

Explain in what ways entrepreneurship is more than simply starting a business.

Accepted Answer

It also encompasses a mindset

Question 17

____ is the mechanism that drives an individual to become a nascent entrepreneur because all other opportunities for income appear to be absent or unsatisfactory.

Accepted Answer

A) Pull 
B) Risk 
C) Success 
D) Push 
E) Money 
A) Pull 
B) Risk 
C) Success 
D) Push 
E) Money

Question 18

Briefly discuss the three primary characteristics of entrepreneurial ventures.

Accepted Answer

Entrepreneurial ventures are innovative,

Question 19

The Small Business Administration (SBA)defines a small business as one with fewer than ____ employees.

Accepted Answer

A) 250 
B) 385 
C) 500 
D) 600 
E) 700 
A) 250 
B) 385 
C) 500 
D) 600 
E) 700

Question 20

Briefly discuss the significant changes in entrepreneurship from the 1960s to the 1990s.

Accepted Answer

1960s: U.S. companies enjoyed unrestrict

Name the trends relevant to entrepreneurs as of 2012. Now, what four new trends are emerging?

Briefly describe what entrepreneurship is.

Data from the U.S. Census Bureau from 1998 to 2011 demonstrates that the _____ of the business is more important for job creation than the size of the business.

The new millennium ushered in what many refer to as the ____.

New industries are born when technological change produces a/an ____ opportunity that an enterprising entrepreneur seizes.

Briefly discuss why so many more firms are created than an industry can support.

Early economists recognized that is the primary force behind rising standards of living and that innovation would determine the success of many nations in the future.

Why must risk be considered when considering an entrepreneurial adventure?

Paul Romer asserted that technological change happens when am entrepreneur identifies:

Entrepreneurial ventures and small businesses are related, but they are not the same in most respects.

The vital issue for entrepreneurs is not avoiding failure but minimizing the cost of a possible failure.

Discuss/describe the knowledge economy of the 2000s.

Toward the end of the 1980s, researchers observed that young entrepreneurial ventures were ____ much earlier than expected and at a much smaller size.

Briefly explain how economic growth comes about.

Economic turmoil has a plus side because it produces opportunities for entrepreneurs who are comfortable with environmental factors outside their control.

Explain in what ways entrepreneurship is more than simply starting a business.

____ is the mechanism that drives an individual to become a nascent entrepreneur because all other opportunities for income appear to be absent or unsatisfactory.

Briefly discuss the three primary characteristics of entrepreneurial ventures.

The Small Business Administration (SBA)defines a small business as one with fewer than ____ employees.

Briefly discuss the significant changes in entrepreneurship from the 1960s to the 1990s.

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Developing and Testing a Business Model

Prototyping a Solution

Protecting the Startups Assets

Calculating Startup Capital Requirements

Building the Founding Team

Preparing a Business Plan

Designing an Entrepreneurial Organization

Choosing the Legal Form of Organization

Developing the Startup Marketing Plan

Creating a Startup Funding Strategy

Incorporating Ethics and Social Responsibility Into the Business

Planning for Growth and Change

Funding Growth

Filters

Exam 1: Understanding Entrepreneurship

Name the trends relevant to entrepreneurs as of 2012. Now, what four new trends are emerging?

Briefly describe what entrepreneurship is.

Data from the U.S. Census Bureau from 1998 to 2011 demonstrates that the _____ of the business is more important for job creation than the size of the business.

The new millennium ushered in what many refer to as the ____.

New industries are born when technological change produces a/an ____ opportunity that an enterprising entrepreneur seizes.

Briefly discuss why so many more firms are created than an industry can support.

Early economists recognized that ____ is the primary force behind rising standards of living and that ____ innovation would determine the success of many nations in the future.

Why must risk be considered when considering an entrepreneurial adventure?

Paul Romer asserted that technological change happens when am entrepreneur identifies:

Entrepreneurial ventures and small businesses are related, but they are not the same in most respects.

The vital issue for entrepreneurs is not avoiding failure but minimizing the cost of a possible failure.

Discuss/describe the knowledge economy of the 2000s. ​

Toward the end of the 1980s, researchers observed that young entrepreneurial ventures were ____ much earlier than expected and at a much smaller size.

Briefly explain how economic growth comes about.

Economic turmoil has a plus side because it produces opportunities for entrepreneurs who are comfortable with environmental factors outside their control.

Explain in what ways entrepreneurship is more than simply starting a business.

____ is the mechanism that drives an individual to become a nascent entrepreneur because all other opportunities for income appear to be absent or unsatisfactory.

Briefly discuss the three primary characteristics of entrepreneurial ventures.

The Small Business Administration (SBA)defines a small business as one with fewer than ____ employees.

Briefly discuss the significant changes in entrepreneurship from the 1960s to the 1990s.

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Developing and Testing a Business Model

Prototyping a Solution

Protecting the Startups Assets

Calculating Startup Capital Requirements

Building the Founding Team

Preparing a Business Plan

Designing an Entrepreneurial Organization

Choosing the Legal Form of Organization

Developing the Startup Marketing Plan

Creating a Startup Funding Strategy

Incorporating Ethics and Social Responsibility Into the Business

Planning for Growth and Change

Funding Growth

Filters

Early economists recognized that is the primary force behind rising standards of living and that innovation would determine the success of many nations in the future.

Discuss/describe the knowledge economy of the 2000s.