Test Bank For Entrepreneurship: The Practice and Mindset 1st Edition by Heidi M. Neck Christopher P. Neck ,Emma L. Murray
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Test Bank For Entrepreneurship: The Practice and
Mindset 1st Edition by Heidi M. Neck Christopher P.
Neck ,Emma L. Murray
Chapter 1: Entrepreneurship: A Global Social MovementTest Bank
Multiple Choice
1. The authors define entrepreneurship as .
a. a discipline that seeks to understand how ...
Test Bank For Entrepreneurship: The Practice and Mindset 1st Editio n by Heidi M. Neck Christopher P. Neck ,Emma L. Murray Chapter 1: Entrepreneurship: A Global Social Movement Test Bank Multiple Choice 1. The authors define entrepreneurship as . a. a discipline that seeks to understand how opportunities are discovered, created, and exploited, by whom, and with what consequences b. starting a small business by finding investors and launching a product c. developing a new market by creating a product that does not currently exist d. a mindset that compels people to start multiple ventures throughout a lifetime. Ans: A Learning Objective: 1.1. Explain the importance of action and practice in entrepreneurship. Cognitive Domain: Knowledge Answer Location: Entrepreneurship Requires Action and Practice Difficulty Level: Medium AACSB Standard: Reflective thinking 2. are small, short -term loans often associated with entrepreneurs in developing countries. a. No-interest loans b. High-interest loans c. Microloans d. Miniloans Ans: C Learning Objective: 1.1. Explain the importance of action and practice in entrepreneurship. Cognitive Domain: Knowledge Answer Location: Entrepreneurship Requires Action and Practice Difficulty Level: Medium AACSB Standard: Financial theories, analysis, reporting and markets 3. This is the discipline that seeks to understand how opportunities are discovered, created, and exploited, by whom, and with what consequences. a. imagineering b. storyboarding c. social engineering d. entrepreneurship Ans: D Learning Objective: 1.1. Explain the importance of action and practice in entrepreneurship. Cognitive Domain: Knowledge Answer Location: Entrepreneurship Requires Action and Practice Difficulty Level: Medium AACSB Standard: Reflective thinking 4. Which of the following is NOT a truth about entrepreneurship? a. Entrepreneurship is reserved for startups. b. Entrepreneurship can be taught, as it is a method that requires practice. c. Entrepreneurs collaborate more than they compete. d. Entrepreneurship is a life skill. Ans: A Learning Objective: 1.2. List the seven lesser -known truths about entrepreneurship. Cognitive Domain: Knowledge Answer Location: Debunking the Myths of Entrepreneurship Difficulty Level: Easy AACSB Standard: Reflective thinking 5. The media often cover the meteoric rise of entrepreneurs such as Bill Gates (Microsoft), Steve Jobs (Apple), Mark Zuckerberg (Facebook), Elon Musk (Tesla), and Travis Kalanick (Uber). According to the text, these stories . a. are inspirational but they do little to represent the reality of entrepreneurship b. are highly relatable c. have not captured the public imagination d. are accurate depictions of the entrepreneurs’ paths to success Ans: A Learning Objective: 1.2. List the seven lesser -known truths about entrepreneurship. Cognitive Domain: Comprehension Answer Location: Media Images of Entrepreneurs Difficulty Level: Medium AACSB Standard: Contexts of organizations in a global society 6. A temporary organization in search of a scalable business model is known as a(n) . a. startup. b. corporation. c. LLC. d. entrepreneur. Ans: A Learning Objective: 1.2. List the seven lesser -known truths about entrepreneurship. Cognitive Domain: Knowledge Answer Location: Truth #1: Entrepreneurship is not reserved for startups Difficulty Level: Medium AACSB Standard: Financial theories, analysis, reporting and markets 7. Effectuation is the theory that . a. businesses should have a positive impact on people’s lives b. the effects of ideas can be studied over time c. the future is unpredictable yet controllable d. emotions can influence decision -making Ans: C Learning Objective: 1.2. List the seven lesser -known truths about entrepreneurship. Cognitive Domain: Knowledge Answer Location: Truth #2: Entrepreneurs do not have a special set of personality traits Difficulty Level: Medium AACSB Standard: Financial theories, analysis, reporting and markets 8. Contemporary researchers focus on how entrepreneurs . a. think and act b. develop a desire for achievement c. build a tolerance for uncertainty d. develop an affinity for taking risks Ans: A Learning Objective: 1.2. List the seven lesser -known truths about entrepreneurship. Cognitive Domain: Knowledge Answer Location: Truth #2: Entrepreneurs do not have a special set of personality traits Difficulty Level: Medium AACSB Standard: Financial theories, analysis, reporting and markets 9. are people who start several businesses, sometimes at the same time or sometimes one after the other. a. Social entrepreneurs b. Serial entrepreneurs c. High-risk entrepreneurs d. Low-risk entrepreneurs Ans: B Learning Objective: 1.2. List the seven lesser -known truths about entrepreneurship. Cognitive Domain: Knowledge Answer Location: Truth #2: Entrepreneurs do not have a special set of personality traits Difficulty Level: Easy AACSB Standard: Reflective thinking 10. Which of the following is true about effectual entrepreneurs? a. They focus on creating a future rather than predicting it. b. They find markets rather than make them. c. They do not accept failure. d. They rely on the initiative of stakeholders to fulfill their vision of the future. Ans: A Learning Objective: 1.2. List the seven lesser -known truths about entrepreneurship. Cognitive Domain: Knowledge Answer Location: Truth #2: Entrepreneurs do not have a special set of personality traits Difficulty Level: Easy AACSB Standard: Reflective thinking
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