Econ 125 Practice Exam
University of North Carolina at Chapel Hill ECON 125
(2026) UPDATE Verified Questions And Answers | With
100% Correct Answers graded A+ Guaranteed Success!!
Why is feedback essential in the prototyping phase, and how
should it be approached?
A) To validate that the prototype is perfect.
B) Feedback helps identify flaws and areas of improvement,
and it should be approached with an open mindset, aiming to
refine rather than defend the prototype.
,C) Feedback ensures that the team is aligned with business
goals.
D) Feedback limits the need for further iterations.
B
Why is psychological safety key to a successful design thinking
process?
A) It ensures the team meets deadlines faster.
B) It fosters a collaborative environment where team members
feel safe sharing ideas and taking risks without fear of
judgment.
C) It minimizes the need for leadership.
D) It increases technical expertise.
B
Which of the following best represents the difference between
entrepreneurial thinking and traditional business practices?
, A) Entrepreneurial thinking requires starting a business, while
traditional practices do not.
B) Traditional practices focus on innovation, while
entrepreneurial thinking avoids risk.
C) Entrepreneurial thinking involves innovative solutions to
novel problems, whereas traditional practices follow
established methods.
D) Traditional business practices are more focused on short-
term financial gain than entrepreneurial thinking.
C
In Drucker's model, why are 'the unexpected' and 'new
knowledge' considered the most impactful yet risky areas for
opportunity?
A) Both often come from external sources beyond the
entrepreneur's control.
University of North Carolina at Chapel Hill ECON 125
(2026) UPDATE Verified Questions And Answers | With
100% Correct Answers graded A+ Guaranteed Success!!
Why is feedback essential in the prototyping phase, and how
should it be approached?
A) To validate that the prototype is perfect.
B) Feedback helps identify flaws and areas of improvement,
and it should be approached with an open mindset, aiming to
refine rather than defend the prototype.
,C) Feedback ensures that the team is aligned with business
goals.
D) Feedback limits the need for further iterations.
B
Why is psychological safety key to a successful design thinking
process?
A) It ensures the team meets deadlines faster.
B) It fosters a collaborative environment where team members
feel safe sharing ideas and taking risks without fear of
judgment.
C) It minimizes the need for leadership.
D) It increases technical expertise.
B
Which of the following best represents the difference between
entrepreneurial thinking and traditional business practices?
, A) Entrepreneurial thinking requires starting a business, while
traditional practices do not.
B) Traditional practices focus on innovation, while
entrepreneurial thinking avoids risk.
C) Entrepreneurial thinking involves innovative solutions to
novel problems, whereas traditional practices follow
established methods.
D) Traditional business practices are more focused on short-
term financial gain than entrepreneurial thinking.
C
In Drucker's model, why are 'the unexpected' and 'new
knowledge' considered the most impactful yet risky areas for
opportunity?
A) Both often come from external sources beyond the
entrepreneur's control.
