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Test Bank For Entrepreneurship Theory Process and Practice 9th Edition by Donald F. Kuratko
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,CHAPTER 1: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT-REVOLUTIONARY IMPACT
TRUE/FALSE
1. Entrepreneurs are aggressive catalysts for change within the marketplace.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
2. Entrepreneurs are not heroes in today’s marketplace.
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
3. Entrepreneurs are the major source of innovation and job creation in any economy.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
4. Entrepreneurship is more than the mere creation of a business.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
5. During the past ten years, new business incorporations averaged nearly 600,000 per year.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
6. One of every 1,000 adults participates in the founding of a new firm every year.
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
7. The entrepreneurial spirit is unique to America and Western Europe.
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
8. A “gazelle” is a business establishment with at least 20 percent sales growth every year for five years.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
9. Gazelles produce half the innovations per employee that larger firms typically do.
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
10. New and smaller firms obtain more patents per sale than do larger firms.
, ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
11. Gazelles produced 5 million jobs despite the continual downsizing in major corporations over the last
decade.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
12. New and smaller firms are responsible for 95 percent of all radical innovations.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
13. Gazelles are almost always high tech.
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
14. Gazelles do not always get venture capital funding.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
15. Three characteristics of an entrepreneur are personal initiative, management skills, and a desire for
autonomy.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
16. Large firms, as opposed to entrepreneurs, are the aggressive catalyst for change in the world of
business.
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
17. The word entrepreneur is derived from the Spanish word entreprendre, meaning “to undertake.”
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
18. There is no single definition of an entrepreneur.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
19. Recognition of entrepreneurs dates back to the French economist Richard Cantillon.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
20. Entrepreneurs are the major source of innovation and job creation in the economy.
ANS: T PTS: 1
, NAT: AACSB Reflective Thinking | Individual Dynamics
21. According to Robert C. Ronstadt, entrepreneurship is the process of creating incremental wealth.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
22. Most entrepreneurs are inventors.
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
23. An entrepreneur needs neither a lot of money nor luck.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
24. Prepared entrepreneurs who seize opportunities when they arise often appear to be lucky.
ANS: T PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
25. Entrepreneurs are high risk takers.
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
26. Entrepreneurs always start their business at a young age.
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
27. Characteristics of entrepreneurs can neither be taught nor learned.
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
28. Entrepreneurs are born not made.
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
29. Entrepreneurs are doers not thinkers.
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
30. Entrepreneurs must fit the “profile.”
ANS: F PTS: 1
NAT: AACSB Reflective Thinking | Individual Dynamics
31. Entrepreneurs are often very methodical people who plan their moves very carefully.
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