Entrepreneurship Quiz

What is the primary goal of entrepreneurship according to the academic definition?

• To foster innovation

• To create jobs

• To achieve financial gain

• To manage resources

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

• A person who works for a corporation

• Someone who creates and runs a business

• A government official

• An investor in stocks

What significant change occurred during the 18th century in entrepreneurship?

• The establishment of the Silk Road

• The introduction of the steam engine

• The emergence of social entrepreneurship

• The rise of joint-stock companies

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

• Independence

• Personal satisfaction

• Job security

• Financial rewards

What does the term 'gig economy' refer to?

• A type of investment strategy

• A government job program

• A traditional employment model

• A system of short-term contracts or freelance work

Which thinker emphasized the role of entrepreneurs in balancing market demand and supply?

• Adam Smith

• Richard Cantillon

• Jean-Baptiste Say

• Joseph Schumpeter

What is a key characteristic of successful entrepreneurs according to the text?

• They avoid taking risks

• They focus only on local markets

• They rely solely on their own resources

• They actively seek and exploit business opportunities

What is one of the challenges of becoming an entrepreneur?

• Stable job security

• Limited decision-making

• Long working hours

• Guaranteed income

Which of the following is a reason why entrepreneurship is important for society?

• It limits innovation

• It reduces competition

• It increases government control

• It creates job opportunities

What does the New Economic Policy (NEP) aim to achieve in Malaysia?

• To limit entrepreneurship

• To increase taxes on businesses

• To rectify socio-economic imbalances

• To promote foreign investment