1.Research indicates that male entrepreneur tend to start their first significant venture in their
middle 30s, while women entrepreneurs tend to do so in their early 30s. False
2.Comprehension questions are designed to stimulate entrepreneurs to think about their own
understanding of the nature environment. True
3.The question “What is this technology all about?” is a comprehension question. True
4.When we talk of new opportunities it should be totally not existing opportunities before.
5.The casual process of thinking starts with what one has and selects among possible outcomes.
False
6.Entrepreneurial action can be defined as those situations in which new goods, service, raw
materials and organizing methods can be sold at greater than their production cost. False
7.For entrepreneurial actions that preserve nature to be considered sustainable entrepreneurship,
they must also develop gains for the entrepreneur, other and/or society. True
8.Previous start-up experience is a good predictor of starting subsequent businesses. True
9.Role model can include family members as well as industry professionals. True
10.Entrepreneurship means that an individual must be able to look for capital, labor and operating
equipment. True
11.Entrepreneurial opportunities are those situations in which new goods, services, raw materials
and organizing methods can be sold at greater than their production cost. True
12.Asking “How is this problem similar to problem I’ve already solved’? is an example of connection
task. True
13.An entrepreneur is rarely able to start a new business without some form of formal education.
False
14.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 step taken.
True
15.Entrepreneurial thinking is partly a mental process of recognizing a signal and then deciding if the
signal represents an opportunity for someone. True
16.A business that is privately owned and operated, with a small number of employees and relatively
low volume of sales. False
17. The buying and selling of products or services in order to make a profit is considered as business.
18.All opportunities are good. True
19.Being effective is when you perform your work using less money and/or resources. False
20.The effectuation process starts with what one has and selects among possible outcomes. True
21.Dissatisfaction with various aspects of one’s job often motivates the launching of a new venture.
True
22.Bricolage is entrepreneurs making do by applying combinations of the resources at hand to new
problems and opportunities. True
23.The word entrepreneur originates from the English word, entrepreneur, which means “to
undertake”. False
24.Most entrepreneurs indicate that their most significant venture was not their first one. True
25.It is true that entrepreneurship is both a science and an art. The art lies in the proven process of
planning and managing a business. The science lies in the innovative thought, implementation
and growth of a business. False
26.The McMullen-Shepherd Model helps identify the common traits of successful entrepreneurs.
False
27.The definition of entrepreneurship explored so far imply that is more than just about business
success and sustainability. True
28. Entrepreneurs have stronger intentions to act when taking action is perceived to be impossible
and risky. False
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