IBT CHAPTER 7

What does the French word “entrepreneur” mean?

• To sell

• To manage

• To undertake

• To invest

What distinguishes entrepreneurs from small business owners?

• Entrepreneurs use traditional services

• Entrepreneurs avoid innovation

• Entrepreneurs focus on new markets and ideas

• Entrepreneurs only operate locally

What does the term “socioeconomic” refer to?

• Only a country’s wealth

• Interaction of social and economic factors

• Government policy alone

• Business technology alone

Which of the following is a factor under the legal environment of entrepreneurship?

• Cultural attitudes

• Religion

• Net income

• Tax regulations

Which physical factor is said to influence intrapreneurial success?

• Office layout and design

• Brand logo

• Local traditions

• Mobile app interface

Which statement is TRUE about intrapreneurship?

• It avoids taking risks

• It is only found in nonprofit work

• It occurs outside organizations

• It happens within a company system

Which factor is considered part of the social economic environment?

• Branding strategy

• Health and lifestyle

• Advertising

• Raw materials

Entrepreneurs are always guaranteed a fallback option if their venture fails.

• True

• False

Intrapreneurs operate within established organizations and can still receive a paycheck, even if their project fails.

• True

• False

Which of the following is not part of the socioeconomic factors that will affect entrepreneurship?

• income and occupation

• Level of education

• Conscientious planning

• Quality of neighborhoods