MGT 420 Final Exam | Verified Exam Questions and Answers | Latest
Updated Study Material 2026
Question:
According to a Global Entrepreneurship Monitor (GEM) study within the last 7 years, the
majority of people in high-income countries are drawn to entrepreneurship because???
Answer:
To take advantages of an active opportunity
Question:
The number one characteristics shared by successful entrepreneurs is
Answer:
Passion for the busniess
Question:
Entrepreneurs inside is a form of entrepreneurship which can only exist in for-profit businesses
Answer:
Question:
Which of the following is an accurate characterization of interest in entrepreneurship?
There is not tremendous of interest in entrepreneurship across the world
There is a little amount of interest in entrepreneurship across the world
There is tremendous interest in entrepreneurship across the world
There is no interest in entrepreneurship across the world.
Answer:
There is
tremendous interest in entrepreneurship across the world
Question:
The process of creating new products, ventures, processes, or renewal within large organizations
yet carried out b employees working in units separate from organizations who create and test
innovations that are then assimilated back inside the broader organization is considers what type
of entrepreneurship?
Family Enterprising
,Corporate Enterprising
Serial Entrepreneurship
There are three types of startup firms
Answer:
Salary-Substitute: provides
the owner with similar income to what they would be able to earn in a convectional job.
Question:
Ex. Dry cleaner, Restaurant
Lifestyle: Provides owners the opportunity to purse a life-style and make a living
EX. Blogging, sports store
Entrepreneurial: are companies that bring new products and services to market by creating and
seizing opportunities.
EX.Google, eBay, and Apple are well-known,
Which of the following is not one of the five common myths about entrepreneurs?
entrepreneurs are moderate risk takers.
entrepreneurs are low risk takers.
entrepreneurs are High risk takers.
Answer:
entrepreneurs are moderate
risk takers.
Question:
There are three primary reasons that people become entrepreneurs and start their own firms.
Which of the following is NOT one of those reasons?
Answer:
because
they have an propensity to take risks.
Question:
NOT SURE THIS IS RIGHT
Economic forces impact the opportunities available to entrepreneurs. Which of the following
alternatives reflects a set of economic forces that would be of interest to entrepreneurs?
, Answer:
Question:
The ability to notice things without engaging in deliberate search is referred to as?
Answer:
Entrepreneurial Alertness
Question:
An individual who identifies a busniess idea on his or her own is referred to as a(n)
entrepreneur
Answer:
Solo Entrepreneur
Question:
are characterized by frequent interactions that form between coworkers, friends, and
spouses.
A) Balanced relationships
B) Weak-tie relationships
C) Lateral-tie relationships
D) Moderate-tie relationships
E) Strong-tie relationships
Answer:
E
Question:
Most of Karen's ideas come from interacting with coworkers, friends, her spouse, her parents,
and other people that share the same beliefs that she does. Karen is getting most of her ideas
through relationships.
A) weak-tie relationships
B) social-tie relationships
C) strong-tie relationships
D) multiple-tie relationships
E) vertical-tie relationships
Updated Study Material 2026
Question:
According to a Global Entrepreneurship Monitor (GEM) study within the last 7 years, the
majority of people in high-income countries are drawn to entrepreneurship because???
Answer:
To take advantages of an active opportunity
Question:
The number one characteristics shared by successful entrepreneurs is
Answer:
Passion for the busniess
Question:
Entrepreneurs inside is a form of entrepreneurship which can only exist in for-profit businesses
Answer:
Question:
Which of the following is an accurate characterization of interest in entrepreneurship?
There is not tremendous of interest in entrepreneurship across the world
There is a little amount of interest in entrepreneurship across the world
There is tremendous interest in entrepreneurship across the world
There is no interest in entrepreneurship across the world.
Answer:
There is
tremendous interest in entrepreneurship across the world
Question:
The process of creating new products, ventures, processes, or renewal within large organizations
yet carried out b employees working in units separate from organizations who create and test
innovations that are then assimilated back inside the broader organization is considers what type
of entrepreneurship?
Family Enterprising
,Corporate Enterprising
Serial Entrepreneurship
There are three types of startup firms
Answer:
Salary-Substitute: provides
the owner with similar income to what they would be able to earn in a convectional job.
Question:
Ex. Dry cleaner, Restaurant
Lifestyle: Provides owners the opportunity to purse a life-style and make a living
EX. Blogging, sports store
Entrepreneurial: are companies that bring new products and services to market by creating and
seizing opportunities.
EX.Google, eBay, and Apple are well-known,
Which of the following is not one of the five common myths about entrepreneurs?
entrepreneurs are moderate risk takers.
entrepreneurs are low risk takers.
entrepreneurs are High risk takers.
Answer:
entrepreneurs are moderate
risk takers.
Question:
There are three primary reasons that people become entrepreneurs and start their own firms.
Which of the following is NOT one of those reasons?
Answer:
because
they have an propensity to take risks.
Question:
NOT SURE THIS IS RIGHT
Economic forces impact the opportunities available to entrepreneurs. Which of the following
alternatives reflects a set of economic forces that would be of interest to entrepreneurs?
, Answer:
Question:
The ability to notice things without engaging in deliberate search is referred to as?
Answer:
Entrepreneurial Alertness
Question:
An individual who identifies a busniess idea on his or her own is referred to as a(n)
entrepreneur
Answer:
Solo Entrepreneur
Question:
are characterized by frequent interactions that form between coworkers, friends, and
spouses.
A) Balanced relationships
B) Weak-tie relationships
C) Lateral-tie relationships
D) Moderate-tie relationships
E) Strong-tie relationships
Answer:
E
Question:
Most of Karen's ideas come from interacting with coworkers, friends, her spouse, her parents,
and other people that share the same beliefs that she does. Karen is getting most of her ideas
through relationships.
A) weak-tie relationships
B) social-tie relationships
C) strong-tie relationships
D) multiple-tie relationships
E) vertical-tie relationships
