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. Entrepreneurs within an organization is referred to as _______
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3. 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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4. Entrepreneurship is an activity embarked upon for a specific _____
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5. Business idea arises from an opportunity in the _________
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6. 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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7. An entrepreneur must have the competence and proficiency in the knowledge of the _________
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8. The __________ theory of entrepreneurship embraces social culture as a driving force of entrepreneurship
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9. Entrepreneurs come up with great ideas that lead to creativity and ___________
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10. 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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11. 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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12. _________ activities are transactions with creditors or investors used to fund either company operations or expansions
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13. The position that individualism is related directly to innovation and entrepreneurship is not __________________
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14. The establishment of any entrepreneurial Venture is risky and the entrepreneur has to assume ______
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15. Idea generation (ideation) is an emerging buzzword representing the creative process of generating, developing, and communicating new _________
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16. _________ 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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17. _________trait is defined as stable qualities that a person shows in most situations
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18. _________ as an entrepreneur is someone who is being driven by certain forces that are mainly internal, personal attributes and traits
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19. 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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20. An idea once illuminated in the mind of an individual still has little meaning until verified as realistic and _______
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21. The economic theory of entrepreneurship is sub-divided into three namely; Classical theory, __________ and Austrian Market Process
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22. ________ 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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23. Successful entrepreneurs are good at turning ideas into ____
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24. 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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25. A technological process is a means to make and improve products and ________
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26. Sociologist’s view of entrepreneurship is inhibited by the social system, which denies opportunities for _________ facilities
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27. A business owned, financed and managed by an individual is identified as _______
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28. The entrepreneur may not necessarily be an 'inventor' but the one that can make a _____________
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29. The functionality of an entrepreneur is based on some established _______
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30. Scanning the environment is better and safer method of assessing than jumping Into the_______
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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. what helps in generating a large number of product ideas is __________
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33. Entrepreneurship is inhibited by the social system, which denies opportunities for creative facilities for __________
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34. Opportunity exploitation refers to activities conducted in order to gain economic returns from the discovery of a potential entrepreneurial ______
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35. ______ are individuals who identify public problems and apply business acumen to resolve them.
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36. Which phase is the starting point for new ideas?
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37. 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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38. For most entrepreneurs, ideas begin with interest in a subject or curiosity about finding a solution to a particular _______
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39. Span style approach will prevent you spreading your marketing budget and time too thinly is known as __________
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40. 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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41. _______is a great source of information, ideas and often opportunity.
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42. The word "Entrepreneur" is derived from the French verb 'entrepredre' which means' to _____________
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43. (ILO) mean ______________
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44. 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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45. 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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46. One of the followings is the Major Environmental Factors
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47. Difficulties Faced in Establishing an Entrepreneurial Culture include the followings except _________
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48. __________ defined the entrepreneur as someone who imagines, develops and realizes a vision
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49. 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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50. Entrepreneur and Entrepreneurship have been a point of interest to economics as early as ____________
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