Entrepreneurship Review

Which language is the source of the word entrepreneur?

• French – “to undertake”

• Spanish – “to trade”

• German – “to work”

• Latin – “to create”

Who described entrepreneurship as a process centered on taking risks?

• Peter Drucker

• Frank H. Knight

• Joseph Schumpeter

• J.J. Kao

A strong network of contacts and good reputation are examples of:

• Human capital

• Entrepreneurial capital

• Natural capital

• Venture capital

Which entrepreneur type focuses on solving community issues rather than profit alone?

• Corporate entrepreneur

• Social entrepreneur

• Serial entrepreneur

• Lifestyle entrepreneur

After recognizing an idea, which step comes next in the entrepreneurial cycle?

• Business maturity

• Opportunity focusing

• Product scaling

• Exit strategy

Who promoted the idea that entrepreneurial thinking can exist within large companies?

• Richard Branson

• Frank H. Knight

• Peter Drucker

• Elon Musk

Which type of capital includes investment funds, cash, and loans?

• Human capital

• Financial capital

• Social capital

• Cultural capital

Entrepreneurs typically combine which resources to generate value?

• Land, labor, and capital

• Price, place, and promotion

• Goals, teams, and plans

• Time, energy, and networks

A key way franchises lower their risk is by:

• Hiring fewer employees

• Using proven business models

• Avoiding new markets

• Cutting product variety

Why do social entrepreneurs differ from other types?

• They aim for rapid growth

• They lead through innovation

• They put community benefit first

• They focus on cost-cutting