BizInnovator Final Exam Prep

Which of the following is not a persistent myth about entrepreneurs?

• Leaders are born, not made
• Entrepreneurs are gamblers
• Solo entrepreneurs limit their potential for growth
• Entrepreneurs should be young and energetic

What is at the heart of the entrepreneurial process?

• Innovation and creativity
• Opportunity recognition
• Team work
• Marshalling resources

Entrepreneurship is the process of getting into and operating a business of one’s own.

• true
• false

Entrepreneurs are the mechanism by which our economy turns supply into demand.

• true
• false

Entrepreneurship is the process of starting, opening and growing a business.

• true
• false

Most entrepreneurs find themselves working long hours, especially during the start-up period of the business.

• true
• false

Entrepreneurship does not occur in the public sector.

• true
• false

Failure is part of the dynamics of innovation and economic renewal.

• true
• false

Bootstrapping can create significant competitive advantages.

• true
• false

Creative ideas can be generated from the world in which a person lives.

• true
• false