UNC ECON 125 Midterm Exam Questions With Correct Answers

UNC ECON 125 Midterm Exam Questions With
Correct Answers

Keith ||Sawyer ||charts ||the ||creative ||process ||as:



A. ||A ||clearly ||defined ||series ||of ||peaks ||and ||valleys

B. ||A ||straight ||line ||up ||and ||to ||the ||right

C. ||A ||relatively ||flat ||line ||with ||occasional ||deviations

D. ||A ||zig-zag ||line ||- ||CORRECT ||ANSWER✔✔-A ||zig-zag ||line ||(D)



Keith ||Sawyer ||quoted ||Drucker ||as ||saying ||the ||gravest ||mistakes ||are ||made ||as ||a ||result ||of:



A. ||Asking ||the ||wrong ||questions

B. ||Evaluating ||data ||incorrectly

C. ||Rushing ||to ||judgment

D. ||Failing ||to ||consider ||all ||of ||the ||facts ||- ||CORRECT ||ANSWER✔✔-Asking ||the ||wrong ||
questions ||(A)



Jud ||Bowman's ||ultimate ||success ||in ||raising ||capital ||for ||his ||company ||illustrates:



A. ||Being ||young ||is ||often ||an ||advantage.

B. ||It ||is ||not ||what ||you ||know ||but ||who ||you ||know.

C. ||Do ||not ||be ||discouraged ||in ||the ||face ||of ||repeated ||rejection.

D. ||Build ||a ||great ||team ||and ||capital ||will ||follow. ||- ||CORRECT ||ANSWER✔✔-Do ||not ||be ||
discouraged ||in ||the ||face ||of ||repeated ||rejection ||(C)

, In ||Jud ||Bowman's ||search ||for ||initial ||capital ||he ||began ||with ||friends ||and ||family. ||One ||of ||his ||
initial ||sources ||was: ||

A. ||His ||grandmother

B. ||His ||doctor

C. ||His ||elementary ||school ||teacher

D. ||His ||professor ||at ||Stanford ||- ||CORRECT ||ANSWER✔✔-His ||grandmother ||(A)



When ||Bowman ||saw ||an ||early ||smartphone ||and ||became ||convinced ||there ||was ||a ||huge ||
opportunity ||available ||to ||him ||he ||was ||looking ||at ||the ||relationship ||between ||which ||two ||
elements ||of ||the ||BMC?



A. ||Value ||Proposition ||and ||Customer ||Segments

B. ||Value ||Proposition ||and ||Key ||Activities

C. ||Key ||Partners ||and ||Cost ||Structure

D. ||Revenue ||Streams ||and ||Customer ||Relationships ||- ||CORRECT ||ANSWER✔✔-Value ||
Proposition ||and ||Customer ||Segments ||(A)



Based ||on ||Drucker. ||which ||is ||a ||defining ||characteristic ||of ||an ||entrepreneur?



A. ||The ||ability ||to ||accumulate ||wealth

B. ||The ||ability ||to ||clearly ||predict ||the ||future

C. ||The ||ability ||to ||take ||action

D. ||The ||ability ||to ||eliminate ||risk ||- ||CORRECT ||ANSWER✔✔-The ||ability ||to ||take ||action ||(C)



According ||to ||Porter, ||strategy ||is ||about ||being ||different. ||It ||means ||deliberately ||choosing ||a ||
different ||set ||of ||_______ ||to ||deliver ||a ||unique ||mix ||of ||value.

A. ||Investors