ATTENTION:
Kindly note that you will be presented with 50 questions randomized from the NOUN question bank. Make sure to take the quiz multiple times so you can get familiar with the questions and answers, as new questions are randomized in each attempt.
Good luck!
GST204
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1. For most entrepreneurs, ideas begin with interest in a subject or curiosity about finding a solution to a particular _______
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2. _________ is the process of having a good idea of the resources that will be required to turn your idea into an opportunity.
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3. The Distinctive design, graphics, logo, symbols, words, or any combination thereof that uniquely identifies a firm and/or its goods or services, guarantees the item's genuineness, and gives it owner the legal rights to prevent the unauthorized use referred to _________
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4. A business owned, financed and managed by an individual is identified as _______
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5. Opportunity exploitation refers to activities conducted in order to gain economic returns from the discovery of a potential entrepreneurial ______
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6. _________ activities are transactions with creditors or investors used to fund either company operations or expansions
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7. The entrepreneur may not necessarily be an 'inventor' but the one that can make a _____________
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8. It is the responsibility of ________ to assess the external environment of the business by critically looking at the opportunities and threats emanating from changes in the major external environmental factors
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9. A technological process is a means to make and improve products and ________
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10. The word "Entrepreneur" is derived from the French verb 'entrepredre' which means' to _____________
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11. There are given situations where an Entrepreneur is not able to establish his or her own business and as such has to work in an
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12. A _______ business may be defined as any business in which two or more family members are involved and the majority of ownership or control lies within a family.
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13. The economic theory of entrepreneurship is sub-divided into three namely; Classical theory, __________ and Austrian Market Process
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14. An idea once illuminated in the mind of an individual still has little meaning until verified as realistic and _______
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15. Entrepreneur and Entrepreneurship have been a point of interest to economics as early as ____________
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16. The establishment of any entrepreneurial Venture is risky and the entrepreneur has to assume ______
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17. Idea generation (ideation) is an emerging buzzword representing the creative process of generating, developing, and communicating new _________
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18. Passion and Motivation, Not Afraid to Take Risks, Self-belief, Hard Work and Disciplined Dedication, Adaptable and Flexible, Product and Market Knowledge, Strong Money Management, Effective Planning (Not Over-Planning) Skills, The Right Connections are the main characteristics of an ___________
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19. Which type of innovation is the reconfiguration of an established system to link together components and parts in a new way
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20. Business idea arises from an opportunity in the _________
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21. The entrepreneur needs to evaluate the strengths and weaknesses of the business __________
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22. The mix of norms, values and beliefs that are shared by a particular community be it a business community, a cultural (or ethnic) community, a country, or a geographical region defined as _________
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23. Entrepreneurship is an activity embarked upon for a specific _____
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24. The functionality of an entrepreneur is based on some established _______
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25. Socio economic value builds on the foundation of economic value creation by attempting to quantify and incorporate certain elements of _______
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26. Entrepreneurs come up with great ideas that lead to creativity and ___________
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27. Individuals with an internal locus of control believe that they are able to life events
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28. ______ are individuals who identify public problems and apply business acumen to resolve them.
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29. Illumination occurs when the idea surfaces as a realistic ________
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30. Entrepreneurs within an organization is referred to as _______
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31. _______ theory of entrepreneurship identifies traits, motives and personalities as the major factors that infuse the entrepreneurial spirit in an individual
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32. (ILO) mean ______________
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33. Starting /creating a new business is a serious exercise that requires a lot of __________ and hard work
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An entrepreneur must have good human _____________
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35. The business environment is made up of the internal and the external environment and the main macro-environmental forces/factors found in the external environment and micro-environmental forces/factors/ in the internal environment of the _______
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36. Entrepreneur was first accorded prominence by _________
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37. According to David Mc Clelland (1961), an entrepreneur is a dynamic person who takes calculated ___________________
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38. The psychologist sees an Entrepreneur as someone who is being driven by certain forces that are mainly internal, personal attributes and _______
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39. A business _________ involves sale or lease of any product, service, equipment, etc. that will enable the purchaser-licensee to begin a business
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40. Difficulties Faced in Establishing an Entrepreneurial Culture include the followings except _________
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41. Sociologist’s view of entrepreneurship is inhibited by the social system, which denies opportunities for _________ facilities
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42. Individual with an external locus of control believe that life's _______ are the result of external factors, such as chance, luck or fate.
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43. Brainstorming. It helps in generating a large number of product _______
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44. _______is a great source of information, ideas and often opportunity.
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45. Which kind of innovation changes the core design of one or more components but does not change the entire product architecture
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46. _________trait is defined as stable qualities that a person shows in most situations
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47. An entrepreneur is a dynamic person who takes calculated _____
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48. Span style approach will prevent you spreading your marketing budget and time too thinly is known as __________
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49. ________ conceives the entrepreneur as the innovator who implements change within markets through the carrying out of new combinations such as introduction of new techniques of production, reorganization of an industry and innovation.
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50. The psychologist view sees an entrepreneur as someone who is being driven by certain forces that are mainly internal, personal attributes and ________
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