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. 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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2. A business owned, financed and managed by an individual is identified as _______
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3. Scanning the environment is better and safer method of assessing than jumping Into the_______
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4. An entrepreneur must have the competence and proficiency in the knowledge of the _________
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An entrepreneur must have good human _____________
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6. 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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7. The economic theory of entrepreneurship is sub-divided into three namely; Classical theory, __________ and Austrian Market Process
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8. Entrepreneur and Entrepreneurship have been a point of interest to economics as early as ____________
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9. _______ theory of entrepreneurship identifies traits, motives and personalities as the major factors that infuse the entrepreneurial spirit in an individual
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10. The establishment of any entrepreneurial Venture is risky and the entrepreneur has to assume ______
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11. A technological process is a means to make and improve products and ________
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12. According to David Mc Clelland (1961), an entrepreneur is a dynamic person who takes calculated ___________________
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13. The entrepreneur needs to evaluate the strengths and weaknesses of the business __________
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14. Starting /creating a new business is a serious exercise that requires a lot of __________ and hard work
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15. Successful entrepreneurs are good at turning ideas into ____
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16. ______ are individuals who identify public problems and apply business acumen to resolve them.
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17. An entrepreneur is a dynamic person who takes calculated _____
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18. 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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19. Entrepreneurs within an organization is referred to as _______
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20. 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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21. (ILO) mean ______________
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22. Sociologist’s view of entrepreneurship is inhibited by the social system, which denies opportunities for _________ facilities
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23. 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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24. The __________ theory of entrepreneurship embraces social culture as a driving force of entrepreneurship
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25. Entrepreneurship is an activity embarked upon for a specific _____
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26. Business idea arises from an opportunity in the _________
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27. Risk Taking theory contends about one‘s willingness to accept ____.
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28. Entrepreneurs come up with great ideas that lead to creativity and ___________
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29. 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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30. _________trait is defined as stable qualities that a person shows in most situations
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31. 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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32. The conceptual cornerstone in the theory of entrepreneurship lies on __________
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33. Illumination occurs when the idea surfaces as a realistic ________
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34. For most entrepreneurs, ideas begin with interest in a subject or curiosity about finding a solution to a particular _______
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35. The position that individualism is related directly to innovation and entrepreneurship is not __________________
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36. Individuals with an internal locus of control believe that they are able to life events
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37. 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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38. 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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39. Which phase is the starting point for new ideas?
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40. Entrepreneurial culture can be rooted in a society through 4 main avenues. According to ________
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41. 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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42. _________ activities are transactions with creditors or investors used to fund either company operations or expansions
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43. Difficulties Faced in Establishing an Entrepreneurial Culture include the followings except _________
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44. 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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45. _______is a great source of information, ideas and often opportunity.
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46. _________ as an entrepreneur is someone who is being driven by certain forces that are mainly internal, personal attributes and traits
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47. One of the followings is the Major Environmental Factors
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48. The ___________ theory of entrepreneurship considers the relationship between economic conditions and incentives to arrive at a risk-reward equation that informs a determination on whether or not to pursue a potential venture
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49. Idea generation (ideation) is an emerging buzzword representing the creative process of generating, developing, and communicating new _________
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50. The value created by taking a resource or set of inputs, providing additional inputs or processes that increase the value of those inputs, and thereby generate a product or service that has greater market value at the next level of the value chain is referred to as _________
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