Econ 125-Midterm Detailed (all virtual session
questions) Certification Prep with Practice
Questions, Real Exam Insights, and Proven
Pass Strategies
Being an entrepreneur is as much a ______ as it is a career
path. - ✔✔ANSWER ✔✔-mindset
According to Peter Drucker, entrepreneurs generally don't
create change — they ______ it. - ✔✔ANSWER ✔✔-exploit
Drucker revealed that innovation doesn't come from "Eureka!"
moments but rather from ______. - ✔✔ANSWER ✔✔-everyday
experiences
,Facebook's creation after an unexpected success represents
which source of innovation? - ✔✔ANSWER ✔✔-The
Unexpected
The 2008 financial crisis leading to new financial startups is an
example of which source? - ✔✔ANSWER ✔✔-The Unexpected
failure
Hurricane Katrina inspiring new school technology solutions like
Kickboard is an example of - ✔✔ANSWER ✔✔-: The
Unexpected outside event
When something "doesn't make sense" but no one has tried to
fix it, Drucker calls this an - ✔✔ANSWER ✔✔-: Incongruity
Medfusion's innovation in combining patient medical records is
an example of - ✔✔ANSWER ✔✔-: Process need
When an industry doubles in size quickly and old strategies stop
working, it represents - ✔✔ANSWER ✔✔-: Maturation
,Netflix replacing Blockbuster is an example of which market
structure change? - ✔✔ANSWER ✔✔-Maturation
Uber and Lyft combining multiple technologies (GPS,
smartphones, payments) show - ✔✔ANSWER ✔✔-: Industry
convergence
The baby boomer generation creating new healthcare demands
is an example of - ✔✔ANSWER ✔✔-: Demographics
The shift in people preferring ride-sharing over owning cars
reflects - ✔✔ANSWER ✔✔-: Changes in perception
The push toward alternative energy sources like solar power
represents which source? - ✔✔ANSWER ✔✔-New Knowledge
Which of Drucker's seven sources of innovation is considered
the riskiest? - ✔✔ANSWER ✔✔-New Knowledge
According to Tina Seelig, what determines how creative your
answers can be? - ✔✔ANSWER ✔✔-The question you ask
, What does Seelig mean by "reframing"? - ✔✔ANSWER ✔✔-
Looking at a problem from all different angles
According to Heidi Neck, entrepreneurial intelligence is -
✔✔ANSWER ✔✔-: The courage to act on opportunities despite
uncertainty
Which habit reflects entrepreneurial intelligence? -
✔✔ANSWER ✔✔-Practicing curiosity
According to the lesson, we should look at needs before
______. - ✔✔ANSWER ✔✔-solutions
The "lucky group" in Heidi Neck's example succeeded because
they - ✔✔ANSWER ✔✔-: Looked beyond the obvious
"Don't try to be the best, try to be the only" emphasizes what
mindset? - ✔✔ANSWER ✔✔-Entrepreneurial mindset
Which of the following best defines "opportunity" in
entrepreneurship? - ✔✔ANSWER ✔✔-A problem waiting for a
creative solution
questions) Certification Prep with Practice
Questions, Real Exam Insights, and Proven
Pass Strategies
Being an entrepreneur is as much a ______ as it is a career
path. - ✔✔ANSWER ✔✔-mindset
According to Peter Drucker, entrepreneurs generally don't
create change — they ______ it. - ✔✔ANSWER ✔✔-exploit
Drucker revealed that innovation doesn't come from "Eureka!"
moments but rather from ______. - ✔✔ANSWER ✔✔-everyday
experiences
,Facebook's creation after an unexpected success represents
which source of innovation? - ✔✔ANSWER ✔✔-The
Unexpected
The 2008 financial crisis leading to new financial startups is an
example of which source? - ✔✔ANSWER ✔✔-The Unexpected
failure
Hurricane Katrina inspiring new school technology solutions like
Kickboard is an example of - ✔✔ANSWER ✔✔-: The
Unexpected outside event
When something "doesn't make sense" but no one has tried to
fix it, Drucker calls this an - ✔✔ANSWER ✔✔-: Incongruity
Medfusion's innovation in combining patient medical records is
an example of - ✔✔ANSWER ✔✔-: Process need
When an industry doubles in size quickly and old strategies stop
working, it represents - ✔✔ANSWER ✔✔-: Maturation
,Netflix replacing Blockbuster is an example of which market
structure change? - ✔✔ANSWER ✔✔-Maturation
Uber and Lyft combining multiple technologies (GPS,
smartphones, payments) show - ✔✔ANSWER ✔✔-: Industry
convergence
The baby boomer generation creating new healthcare demands
is an example of - ✔✔ANSWER ✔✔-: Demographics
The shift in people preferring ride-sharing over owning cars
reflects - ✔✔ANSWER ✔✔-: Changes in perception
The push toward alternative energy sources like solar power
represents which source? - ✔✔ANSWER ✔✔-New Knowledge
Which of Drucker's seven sources of innovation is considered
the riskiest? - ✔✔ANSWER ✔✔-New Knowledge
According to Tina Seelig, what determines how creative your
answers can be? - ✔✔ANSWER ✔✔-The question you ask
, What does Seelig mean by "reframing"? - ✔✔ANSWER ✔✔-
Looking at a problem from all different angles
According to Heidi Neck, entrepreneurial intelligence is -
✔✔ANSWER ✔✔-: The courage to act on opportunities despite
uncertainty
Which habit reflects entrepreneurial intelligence? -
✔✔ANSWER ✔✔-Practicing curiosity
According to the lesson, we should look at needs before
______. - ✔✔ANSWER ✔✔-solutions
The "lucky group" in Heidi Neck's example succeeded because
they - ✔✔ANSWER ✔✔-: Looked beyond the obvious
"Don't try to be the best, try to be the only" emphasizes what
mindset? - ✔✔ANSWER ✔✔-Entrepreneurial mindset
Which of the following best defines "opportunity" in
entrepreneurship? - ✔✔ANSWER ✔✔-A problem waiting for a
creative solution
