Question 1

Entrepreneurship refers to the process of bringing something that is not now being produced to the marketplace.

Accepted Answer

A) True 
 B)False

Question 2

Aspects of the world that can take different values are known as

Accepted Answer

A)  variables. 
B)  facts. 
C)  predictions. 
D)  external concerns. 
E)  theories.

Question 3

Companies like Expedia.com probably could not have been started ten or more years ago because the technological,economic,and social forces were not right to present the opportunity to start such a company.

Accepted Answer

A) True 
 B)False

Question 4

Experimentation plays a large part in an entrepreneur's success and is used all of the time in the study of entrepreneurship.

Accepted Answer

A) True 
 B)False

Question 5

An entrepreneur wants to explore whether a product with a blue package sells better than the very same product with a red package. The color of the package is the only thing that is changed and the product is put into test marketing to see if the blue package or red package sells more. This is known as

Accepted Answer

A)  insanity. 
B)  micro approach. 
C)  experimentation. 
D)  reflection. 
E)  intrapreneurship.

Question 6

Which of the following is part of the micro level of analysis when studying entrepreneurship?

Accepted Answer

A)  Technological conditions in the immediate market area in which the entrepreneur wants to operate. 
B)  Overall market conditions. 
C)  The nature of the stock market; what is happening on the New York Stock Exchange, etc. 
D)  The entrepreneur's skills in selling a new product. 
E)  The laws that apply to the product developed by the entrepreneur.

Question 7

In the process of developing a theory on entrepreneurship,the theory is eventually either proven or rejected,and the results are accepted as being absolute.

Accepted Answer

A) True 
 B)False

Question 8

Entrepreneurship refers to developing a new product or service that is revolutionary,or earth-shaking,rather than developing a less noteworthy product or service.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following statements about the role of theory in entrepreneurship is NOT true?

Accepted Answer

A)  The purpose of a theory is to help with the efforts to go beyond merely describing various phenomena to the point at which we can explain them. 
B)  Theories help to understand why and how events happen. 
C)  Theories are frameworks for explaining various events or processes. 
D)  Theories help to figure out what it is about certain people that allows them to be so good at recognizing opportunities that other people miss. 
E)  All of the above are true about theories.

Question 10

A person who creates something new while working inside an existing company is known as a/an

Accepted Answer

A)  internal entrepreneur. 
B)  nonproprietary thinker. 
C)  technology officer. 
D)  intrapreneur.. 
E)  traditional entrepreneur.

Question 11

Explain why entrepreneurship is an increasingly popular career choice and why the activities of entrepreneurs are so important to the economies of their countries.

Accepted Answer

The answer of Explain why entrepreneurship is an increasingly popular...

Question 12

Full understanding of entrepreneurship can be gained only through careful consideration of

Accepted Answer

A)  the "top-up" perspective. 
B)  macro and micro approaches. 
C)  the "bottom-down" perspective. 
D)  the macro approach only. 
E)  the micro approach only.

Question 13

Entrepreneurs cause an increase in unemployment,taking away jobs from the working class.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is NOT one of the five major phases of the entrepreneurship process?

Accepted Answer

A)  Recognition of an opportunity. 
B)  Deciding to proceed and assembling the essential resources. 
C)  Launching a new venture. 
D)  Creating an in-depth, strategic marketing plan. 
E)  Building success.

Question 15

Which of the following refers to the effort to go beyond merely describing various phenomena and,instead,to explain them

Accepted Answer

A)  extensive research. 
B)  theory. 
C)  abstract approach. 
D)  micro investigation. 
E)  case method.

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

Entrepreneurship refers to the process of bringing something that is not now being produced to the marketplace.

Aspects of the world that can take different values are known as

Companies like Expedia.com probably could not have been started ten or more years ago because the technological,economic,and social forces were not right to present the opportunity to start such a company.

Experimentation plays a large part in an entrepreneur's success and is used all of the time in the study of entrepreneurship.

Which of the following is part of the micro level of analysis when studying entrepreneurship?

In the process of developing a theory on entrepreneurship,the theory is eventually either proven or rejected,and the results are accepted as being absolute.

Entrepreneurship refers to developing a new product or service that is revolutionary,or earth-shaking,rather than developing a less noteworthy product or service.

Which of the following statements about the role of theory in entrepreneurship is NOT true?

A person who creates something new while working inside an existing company is known as a/an

Explain why entrepreneurship is an increasingly popular career choice and why the activities of entrepreneurs are so important to the economies of their countries.

Full understanding of entrepreneurship can be gained only through careful consideration of

Entrepreneurs cause an increase in unemployment,taking away jobs from the working class.

Which of the following is NOT one of the five major phases of the entrepreneurship process?

Which of the following refers to the effort to go beyond merely describing various phenomena and,instead,to explain them