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. Socio economic value builds on the foundation of economic value creation by attempting to quantify and incorporate certain elements of _______
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2. The term Entrepreneur seems to have been introduced into Economics by ______
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3. ______ are individuals who identify public problems and apply business acumen to resolve them.
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4. Brainstorming. It helps in generating a large number of product _______
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5. what helps in generating a large number of product ideas is __________
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6. An idea once illuminated in the mind of an individual still has little meaning until verified as realistic and _______
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7. _________ activities are transactions with creditors or investors used to fund either company operations or expansions
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8. Opportunity exploitation refers to activities conducted in order to gain economic returns from the discovery of a potential entrepreneurial ______
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9. The entrepreneur may not necessarily be an 'inventor' but the one that can make a _____________
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An entrepreneur must have good human _____________
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11. Which phase is the starting point for new ideas?
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12. Entrepreneur and Entrepreneurship have been a point of interest to economics as early as ____________
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13. Individuals with an internal locus of control believe that they are able to life events
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14. Risk Taking theory contends about one‘s willingness to accept ____.
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15. An entrepreneur must have the competence and proficiency in the knowledge of the _________
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16. 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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17. Span style approach will prevent you spreading your marketing budget and time too thinly is known as __________
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18. 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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19. _________trait is defined as stable qualities that a person shows in most situations
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20. Starting /creating a new business is a serious exercise that requires a lot of __________ and hard work
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21. _________ 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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22. A technological process is a means to make and improve products and ________
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23. Scanning the environment is better and safer method of assessing than jumping Into the_______
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24. 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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25. The __________ theory of entrepreneurship embraces social culture as a driving force of entrepreneurship
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26. 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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27. Sociologist’s view of entrepreneurship is inhibited by the social system, which denies opportunities for _________ facilities
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28. The establishment of any entrepreneurial Venture is risky and the entrepreneur has to assume ______
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29. 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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30. 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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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. Business idea arises from an opportunity in the _________
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34. The entrepreneur needs to evaluate the strengths and weaknesses of the business __________
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35. One of the followings is the Major Environmental Factors
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36. 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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37. 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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38. 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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39. 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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40. 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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41. The functionality of an entrepreneur is based on some established _______
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42. According to David Mc Clelland (1961), an entrepreneur is a dynamic person who takes calculated ___________________
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43. The word "Entrepreneur" is derived from the French verb 'entrepredre' which means' to _____________
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44. Successful entrepreneurs are good at turning ideas into ____
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45. ________ 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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46. 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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47. The economic theory of entrepreneurship is sub-divided into three namely; Classical theory, __________ and Austrian Market Process
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48. A manager Scientist or researcher who works inside an existing organization and notices opportunities for product improvements etc is ______
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49. __________ defined the entrepreneur as someone who imagines, develops and realizes a vision
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50. A business owned, financed and managed by an individual is identified as _______
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