ENT 1

Which of the following best describes the term 'entrepreneur'?

• A person who works for a corporation

• A person who manages a team

• A person who creates and runs a business

• A person who invests in stocks

Which of the following is NOT a benefit of becoming an entrepreneur?

• Control over time

• Financial rewards

• Job security

• Independence

What is a major challenge faced by entrepreneurs?

• Lack of competition

• Fixed working hours

• Business failure

• Guaranteed income

Which of the following is a key aspect of entrepreneurship?

• Working under supervision

• Following strict guidelines

• Creating something new of value

• Avoiding risks

What is one of the main roles of entrepreneurs in economic development?

• To reduce competition

• To introduce new products and services

• To limit market dynamics

• To maintain the status quo

Which of the following is a characteristic of successful entrepreneurs?

• Conformity to norms

• Opportunity pursuit

• Resource dependence

• Risk aversion

What is the significance of the New Economic Policy (NEP) in Malaysia?

• To enhance colonial rule

• To promote foreign investments

• To address economic disparities among ethnic groups

• To limit entrepreneurship

Which of the following is a modern trend in entrepreneurship?

• Reduction of start-up culture

• Decline of social entrepreneurship

• Emphasis on digital technology

• Focus on traditional industries

What does the term 'creative destruction' refer to in entrepreneurship?

• The process of eliminating old products

• The introduction of new innovations that replace old ones

• The failure of businesses

• The stability of market conditions

What is one of the key contributions of entrepreneurship to society?

• Creating monopolies

• Fulfilling societal needs and wants

• Limiting choices for consumers

• Reducing innovation