ENT Periodical Test 1

What defines entrepreneurship?

• Managing people
• Copying business models
• Running a charity
• Developing a business for profit

Who is a successful entrepreneur?

• One who earns a degree
• One who imitates ideas
• One whose business idea becomes a thriving industry
• One who avoids risks

What type of entrepreneur buys existing businesses?

• Hustler
• Buyer
• Researcher
• Innovator

What type of entrepreneur is data-driven and cautious?

• Hustler
• Innovator
• Buyer
• Researcher

What is the mindset of Level 1 entrepreneurs?

• Self-employment
• Leadership
• Investment
• Visionary

What type of entrepreneur focuses on refining existing products?

• Hustler
• Imitator
• Buyer
• Innovator

What is the final level of entrepreneurial development?

• Owner/Leader
• Entrepreneurial Investor
• Self-Employed
• True Entrepreneur

What is a key economic benefit of entrepreneurship?

• Reduced workforce
• Job creation
• Increased imports
• Higher tariffs

Why do imitators succeed in improving products?

• They avoid customers
• They copy designs exactly
• They learn from mistakes of others
• They rely on government

What competency focuses on making timely choices?

• Time management
• Risk management
• Interpersonal skills
• Decisiveness