Category: GST204



1 / 68

A. Which phase is the starting point for new ideas?

2 / 68

B. 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

3 / 68

C. Brainstorming. It helps in generating a large number of product _______

4 / 68

D. According to David Mc Clelland (1961), an entrepreneur is a dynamic person who takes calculated  ___________________

5 / 68

E. The psychologist view sees an entrepreneur as someone who is being driven by certain forces that are mainly internal, personal attributes and ________

6 / 68

F. The economic theory of entrepreneurship is sub-divided into three namely; Classical theory, __________ and Austrian Market Process

7 / 68

G. Scanning the environment is better and safer method of assessing than jumping Into the_______

8 / 68

H. Sociologist’s view of entrepreneurship is inhibited by the social system, which denies opportunities for _________ facilities

9 / 68

I. An entrepreneur must have the competence and proficiency in the knowledge of the _________

10 / 68


 An entrepreneur must have good human _____________

11 / 68

K. Entrepreneurship is an activity embarked upon for a specific _____

12 / 68

L. The entrepreneur may not necessarily be an 'inventor' but the one that can make a _____________

13 / 68

M. One of the followings is the Major Environmental Factors

14 / 68

N. An entrepreneur is a dynamic person who takes calculated _____

15 / 68

O. 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.

16 / 68

P. 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

17 / 68

Q. Illumination occurs when the idea surfaces as a realistic ________

18 / 68

R. Risk Taking theory contends about one‘s willingness to accept ____.

19 / 68

S. A business owned, financed and managed by an individual is identified as _______

20 / 68

T. _________ is the process of having a good idea of the resources that will be required to turn your idea into an opportunity.

21 / 68

U. Entrepreneurial culture can be rooted in a society through 4 main avenues. According to ________

22 / 68

V. An idea once illuminated in the mind of an individual still has little meaning until verified as realistic and _______

23 / 68

W. Entrepreneur was first accorded prominence by _________

24 / 68

X. _______is a great source of information, ideas and often opportunity.

25 / 68

Y. The conceptual cornerstone in the theory of entrepreneurship lies on __________

26 / 68

Z. 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 _______

27 / 68

AA. __________ defined the entrepreneur as someone who imagines, develops and realizes a vision

28 / 68

AB. (ILO) mean ______________

29 / 68

AC. The functionality of an entrepreneur is based on some established _______

30 / 68

AD. A business _________ involves sale or lease of any product, service, equipment, etc. that will enable the purchaser-licensee to begin a business

31 / 68

AE. The psychologist sees an Entrepreneur as someone who is being driven by certain forces that are mainly internal, personal attributes and _______

32 / 68

AF. 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 _________

33 / 68

AG. The term Entrepreneur seems to have been introduced into Economics by ______

34 / 68

AH. Span style approach will prevent you spreading your marketing budget and time too thinly is known as __________

35 / 68

AI. Which kind of innovation changes the core design of one or more components but does not change the entire product architecture

36 / 68

AJ. Entrepreneurship is inhibited by the social system, which denies opportunities for creative facilities for __________

37 / 68

AK. Entrepreneurs come up with great ideas that lead to creativity and ___________

38 / 68

AL. Socio economic value builds on the foundation of economic value creation by attempting to quantify and incorporate certain elements of _______

39 / 68

AM. Idea generation (ideation) is an emerging buzzword representing the creative process of generating, developing, and communicating new _________

40 / 68

AN. Business idea arises from an opportunity in the _________

41 / 68

AO. Which type of innovation is the reconfiguration of an established system to link together components and parts in a new way

42 / 68

AP. _______ theory of entrepreneurship identifies traits, motives and personalities as the major factors that infuse the entrepreneurial spirit in an individual

43 / 68

AQ. For most entrepreneurs, ideas begin with interest in a subject or curiosity about finding a solution to a particular _______

44 / 68

AR. The word "Entrepreneur" is derived from the French verb 'entrepredre' which means' to ­­­­­­­­­­­­_____________

45 / 68

AS. _________ activities are transactions with creditors or investors used to fund either company operations or expansions

46 / 68

AT. The position that individualism is related directly to innovation and entrepreneurship is not __________________

47 / 68

AU. Entrepreneur and Entrepreneurship have been a point of interest to economics as early as ____________

48 / 68

AV. A manager Scientist or researcher who works inside an existing organization and notices opportunities for product improvements etc is ______

49 / 68

AW. The entrepreneur needs to evaluate the strengths and weaknesses of the business __________

50 / 68

AX. _________  as an entrepreneur is someone who is being driven by certain forces that are mainly internal, personal attributes and traits

51 / 68

AY. A technological process is a means to make and improve products and ________

52 / 68

AZ. Opportunity exploitation refers to activities conducted in order to gain economic returns from the discovery of a potential entrepreneurial ______

53 / 68

BA. The __________ theory of entrepreneurship embraces social culture as a driving force of entrepreneurship

54 / 68

BB. Difficulties Faced in Establishing an Entrepreneurial Culture include the followings except _________

55 / 68

BC. Individual with an external locus of control believe that life's _______ are the result of external factors, such as chance, luck or fate.

56 / 68

BD. Successful entrepreneurs are good at turning ideas into ____

57 / 68

BE. ______ are individuals who identify public problems and apply business acumen to resolve them.

58 / 68

BF. _________trait is defined as stable qualities that a person shows in most situations

59 / 68

BG. ________ 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.

60 / 68

BH. Individuals with an internal locus of control believe that they are able to life events

61 / 68

BI. The establishment of any entrepreneurial Venture is risky and the entrepreneur has to assume ______

62 / 68

BJ. 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 _________

63 / 68

BK. 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

64 / 68

BL. what helps in generating a large number of product ideas is __________

65 / 68

BM. 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 _________

66 / 68

BN. Starting /creating a new business is a serious exercise that requires a lot of __________ and hard work

67 / 68

BO. 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 ___________

68 / 68

BP. Entrepreneurs within an organization is referred to as _______

Rate this quiz

Hello NOUNITES! Join other NOUNITES on Whatsapp and Telegram below, EXCLUSIVE UPDATES awaits you from various study centres and happenings in NOUN. Stay updated
Don't miss out, JOIN OVER 22,000 other students already following our platforms