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Test Bank For Entrepreneurship 11Th Ed by Robert Hisrich
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,Entrepreneurship, 11e (Hisrich)Chapter 1 The Entrepreneurial Mind-Set
1) Entrepreneurial thinking is partly a mental process of recognizing a signal and then deciding if
the signal represents an opportunity for someone.
Answer: TRUE
Difficulty: 2 Medium
Learning Objective: 01-01 To introduce the concept of entrepreneurship and explain the process
of entrepreneurial action.
Accessibility: Keyboard Navigation
2) Entrepreneurial thinking partly is about reducing doubt as to whether an opportunity for
someone is also an opportunity for them specifically, and/or processing feedback from action
steps taken.
Answer: TRUE
Difficulty: 2 Medium
Learning Objective: 01-01 To introduce the concept of entrepreneurship and explain the process
of entrepreneurial action.
Accessibility: Keyboard Navigation
3) Entrepreneurial opportunities are those situations in which new goods, services, raw materials
and organizing methods can be sold at greater than their production cost.
Answer: TRUE
Difficulty: 1 Easy
Learning Objective: 01-01 To introduce the concept of entrepreneurship and explain the process
of entrepreneurial action.
Accessibility: Keyboard Navigation
4) Entrepreneurial action can be defined as those situations in which new goods, services, raw
materials and organizing methods can be sold at greater than their production cost.
Answer: FALSE
Difficulty: 1 Easy
Learning Objective: 01-01 To introduce the concept of entrepreneurship and explain the process
of entrepreneurial action.
Accessibility: Keyboard Navigation
1
Copyright 2020 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
,5) The McMullen-Shepherd Model helps identify the common traits of successful entrepreneurs.
Answer: FALSE
Difficulty: 1 Easy
Learning Objective: 01-01 To introduce the concept of entrepreneurship and explain the process
of entrepreneurial action.
Accessibility: Keyboard Navigation
6) The McMullen-Shepherd Model explains how knowledge and motivation influence two stages
of entrepreneurial action.
Answer: TRUE
Difficulty: 2 Medium
Learning Objective: 01-01 To introduce the concept of entrepreneurship and explain the process
of entrepreneurial action.
Accessibility: Keyboard Navigation
7) In the McMullen-Shepherd Model first-person opportunity beliefs come before third-person
opportunity beliefs.
Answer: FALSE
Difficulty: 2 Medium
Learning Objective: 01-01 To introduce the concept of entrepreneurship and explain the process
of entrepreneurial action.
Accessibility: Keyboard Navigation
8) Sustainable entrepreneurship provides only environmental gains for others.
Answer: FALSE
Difficulty: 2 Medium
Learning Objective: 01-06 To introduce sustainable entrepreneurship as a means of sustaining
the natural environment and communities and developing gains for others.
Accessibility: Keyboard Navigation
9) Superficial similarities exist when the underlying mechanisms of the technology resemble, or
match, the underlying mechanisms of the market.
Answer: FALSE
Difficulty: 1 Easy
Learning Objective: 01-02 To describe how structural similarities enable entrepreneurs to make
creative mental leaps.
Accessibility: Keyboard Navigation
2
Copyright 2020 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
, 10) Structural similarities exist when the underlying mechanisms of the technology resemble, or
match, the underlying mechanisms of the market.
Answer: TRUE
Difficulty: 1 Easy
Learning Objective: 01-02 To describe how structural similarities enable entrepreneurs to make
creative mental leaps.
Accessibility: Keyboard Navigation
11) Bricolage is entrepreneurs making do by applying combinations of the resources at hand to
new problems and opportunities.
Answer: TRUE
Difficulty: 1 Easy
Learning Objective: 01-03 To highlight bricolage as a source of entrepreneurs' resourcefulness.
Accessibility: Keyboard Navigation
12) The effectuation process starts with what one has and selects among possible outcomes.
Answer: TRUE
Difficulty: 1 Easy
Learning Objective: 01-04 To introduce effectuation as a way expert entrepreneurs sometimes
think.
Accessibility: Keyboard Navigation
13) The thought experiment "Curry in a Hurry" is an example of the effectuation process.
Answer: TRUE
Difficulty: 2 Medium
Learning Objective: 01-04 To introduce effectuation as a way expert entrepreneurs sometimes
think.
Accessibility: Keyboard Navigation
14) The casual process of thinking starts with what one has and selects among possible
outcomes.
Answer: FALSE
Difficulty: 1 Easy
Learning Objective: 01-04 To introduce effectuation as a way expert entrepreneurs sometimes
think.
Accessibility: Keyboard Navigation
3
Copyright 2020 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
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