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. Entrepreneur and Entrepreneurship have been a point of interest to economics as early as ____________
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2. 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 _______
3 / 50
3. _______ theory of entrepreneurship identifies traits, motives and personalities as the major factors that infuse the entrepreneurial spirit in an individual
4 / 50
4. Risk Taking theory contends about one‘s willingness to accept ____.
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5. 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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6. Entrepreneurs come up with great ideas that lead to creativity and ___________
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7. Entrepreneurship is an activity embarked upon for a specific _____
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8. Scanning the environment is better and safer method of assessing than jumping Into the_______
9 / 50
9. The psychologist view sees an entrepreneur as someone who is being driven by certain forces that are mainly internal, personal attributes and ________
10 / 50
10. The establishment of any entrepreneurial Venture is risky and the entrepreneur has to assume ______
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11. ________ 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.
12 / 50
12. The term Entrepreneur seems to have been introduced into Economics by ______
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13. A business owned, financed and managed by an individual is identified as _______
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14. Entrepreneur was first accorded prominence by _________
15 / 50
15. _______is a great source of information, ideas and often opportunity.
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16. 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
17 / 50
17. Difficulties Faced in Establishing an Entrepreneurial Culture include the followings except _________
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18. An entrepreneur must have the competence and proficiency in the knowledge of the _________
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19. An idea once illuminated in the mind of an individual still has little meaning until verified as realistic and _______
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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. According to David Mc Clelland (1961), an entrepreneur is a dynamic person who takes calculated ___________________
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22. 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 ___________
23 / 50
23. 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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24. 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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25. A technological process is a means to make and improve products and ________
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26. Entrepreneurial culture can be rooted in a society through 4 main avenues. According to ________
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27. One of the followings is the Major Environmental Factors
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28. Brainstorming. It helps in generating a large number of product _______
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29. For most entrepreneurs, ideas begin with interest in a subject or curiosity about finding a solution to a particular _______
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30. (ILO) mean ______________
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31. Entrepreneurship is inhibited by the social system, which denies opportunities for creative facilities for __________
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32. 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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33. Idea generation (ideation) is an emerging buzzword representing the creative process of generating, developing, and communicating new _________
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34. 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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35. Individual with an external locus of control believe that life's _______ are the result of external factors, such as chance, luck or fate.
36 / 50
An entrepreneur must have good human _____________
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37. Individuals with an internal locus of control believe that they are able to life events
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38. Sociologist’s view of entrepreneurship is inhibited by the social system, which denies opportunities for _________ facilities
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39. 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.
40 / 50
40. An entrepreneur is a dynamic person who takes calculated _____
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41. 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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42. Which phase is the starting point for new ideas?
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43. The economic theory of entrepreneurship is sub-divided into three namely; Classical theory, __________ and Austrian Market Process
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44. The entrepreneur may not necessarily be an 'inventor' but the one that can make a _____________
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45. The position that individualism is related directly to innovation and entrepreneurship is not __________________
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46. The functionality of an entrepreneur is based on some established _______
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47. The conceptual cornerstone in the theory of entrepreneurship lies on __________
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48. Opportunity exploitation refers to activities conducted in order to gain economic returns from the discovery of a potential entrepreneurial ______
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49. Socio economic value builds on the foundation of economic value creation by attempting to quantify and incorporate certain elements of _______
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50. 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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