1.Who is considered the pioneer of modern entrepreneurship?
a. Thomas Edison
b. Andrew Carnegie
c. Joseph Schumpeter
d. Adam Smith
2. Which of the following is an uncommon challenge for entrepreneurs?
a. lack of funding
b. competition from established businesses
c. difficulties in finding qualified employees
d. the need to work long hours
3. Which of the following methods should you not consider when trying to overcome the challenge of insufficient funding for your business idea?
a. apply for a bank loan.
b. seek out investors.
c. use your own savings.
d. give up on your business idea.
4. What is one benefit associated with a country having a high ease of doing business index?
a. lower tax rates
b. access to a large domestic market
c. streamlined bureaucratic procedures
d. limited cultural diversity
5. How do cultural attitudes impact entrepreneurial success in the chosen country?
a. Risk-taking is discouraged.
b. Innovation is prioritized over tradition.
c. Failure is viewed as unacceptable.
d. Hierarchical structures are preferred.
6. An effective way to build business relationships is to create a website and have a strong social media presence.
a. True
b. False
7. What is an example of a contextual factor that can affect entrepreneurship?
a. political stability
b. climate change
c. social media trends
d. music preferences
8. What factors are typically excluded from the evaluation of market potential in a country?
a. population size
b. per capita income
c. technology infrastructure
d. government stability
9. What is a possible solution to overcoming the problem of limited resources?
a. Expand the business rapidly to acquire more resources.
b. Seek out partnerships or collaborations.
c. Avoid taking risks to conserve resources.
d. Ignore the problem and continue with current operations.
10. How can you secure funding for your business?”
a. seek loans
b. attract investors
c. utilize crowdfunding
d. public borrowing
11. Which of the following factors is the most important for entrepreneurial success in the chosen country
a. low taxes
b. access to government subsidies
c. established network of suppliers
d. skilled labor force
12. Innovation Rules is derived from:
a. the Business Utility Matrix and the Innovation Cube.
b. the Business Utility Matrix.
c. the Innovation Cube.
d. the Innovation Framework.
13. Which of the following is crucial in managing the problem of burnout as an entrepreneur?
a. Set realistic goals.
b. Work longer hours.
c. Ignore stress and fatigue.
d. Micromanage employees.
14. How does the chosen country’s legal system impact entrepreneurial success?
a. strong legal protections for intellectual property are necessary
b. weak legal protections for intellectual property are necessary
c. discriminatory legal barriers are beneficial
d. complexity and ambiguity in the legal system is beneficial
15. High cost is one of the challenges of innovation.
a. True
b. False
16. What are the two main types of market research?
a. primary and secondary
b. qualitative and quantitative
c. observational and experimentary
d. exploratory and descriptive
17. What can the needs of different user segments be identified through?
a. market research
b. surveys
c. interviews
d. all of the above
18. Which of the following is NOT a good way to overcome the hurdle of competition from established businesses?
a. offer a unique product or service
b. price your product or service competitively
c. market your product or service effectively
d. give up on your business idea
19. Service Innovation is a type of innovation that:
a. focuses on the product itself.
b. focuses on the process of delivering the product.
c. focuses on the customer experience.
d. focuses on improving employee satisfaction and engagement.
20. The different factors that influence innovation are:
a. the environment
b. the organization
c. the individual
d. all of the above
21. Describe the benefits of innovation.
a. increased sales
b. reduced costs
c. improved customer satisfaction
d. all of the above
22. What is the primary goal of the OECD/Eurostat framework for entrepreneurship?
a. promote economic growth and job creation
b. encourage individuals to pursue their passions
c. increase competition in the marketplace
d. reduce government regulation of businesses
23. How does the OECD/Eurostat framework define entrepreneurial ecosystems?
a. the physical locations where businesses operate
b. the network of individuals, institutions, and organizations that support entrepreneurship
c. the legal and regulatory environment in which businesses operate
d. the level of competition in each industry
24. What is the definition of entrepreneurship?
a. the act of initiating and managing a profitable business venture
b. the process of establishing and overseeing a new venture to achieve success
c. the ability to recognize and pursue opportunities to create value
d. the practice of buying and selling goods and services
25. Which of the following is a common trait among successful entrepreneurs in the chosen country?
a. risk-aversion
b. failure to pivot
c. resilience in the face of setbacks
d. lack of vision