Chapter 01: Entrepreneurship: Evolutionary Development—Revolutionary Impact
1. Entrepreneurs are aggressive catalysts for change within the marketplace.
a. True
b. False
ANSWER: True
RATIONALE: Entrepreneurs see opportunity where others might see chaos.
POINTS: 1
REFERENCES: 1.1 Entrepreneurs: Breakthrough Innovators
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.1 - Identify the major types of entrepreneurial ventures
DATE CREATED: 5/2/2023 7:59 AM
DATE MODIFIED: 5/2/2023 8:08 AM
2. During the past 10 years, new business start-ups averaged more than 600,000 per year.
a. True
b. False
ANSWER: True
RATIONALE: There are many start-ups each year in the United States, averaging over
POINTS: 1
REFERENCES: 1.7 The Entrepreneurial Revolution: A Global Phenomenon
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNINGOBJECTIVES: ENTR.KURA.24.1.7-Examinetheentrepreneurialrevolutiontakingplacetoday
DATE CREATED: 5/2/2023 8:08 AM
DATE MODIFIED: 5/2/2023 8:10 AM
3. Employees embrace fear, while entrepreneurs are willing to take calculated risks.
a. True
b. False
ANSWER: True
RATIONALE: Entrepreneurship is a dynamic process of vision, change, and creation.
POINTS: 1
REFERENCES: 1.4 The Evolution of Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNINGOBJECTIVES: ENTR.KURA.24.1.6-Paraphraseacomprehensivedefinitionofentrepreneurship
DATE CREATED: 5/2/2023 8:10 AM
DATE MODIFIED: 5/2/2023 8:12 AM
4. The entrepreneurial spirit is unique to the modern age.
a. True
b. False
ANSWER: False
RATIONALE: The entrepreneurs have existed since eighteenth-century France.
Page 1
,POINTS: 1
REFERENCES: 1.4 The Evolution of Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.2 - Examine the historical development of entrepreneurship
DATE CREATED: 5/2/2023 8:12 AM
DATE MODIFIED: 5/2/2023 8:15 AM
5. A “gazelle” is a business establishment with at least 5 percent sales growth every year for 25 years.
a. True
b. False
ANSWER: False
RATIONALE: Gazelles are based on innovation and experience high growth each year.
POINTS: 1
REFERENCES: 1.7 The Entrepreneurial Revolution: A Global Phenomenon
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.8 - Illustrate today’s entrepreneurial environment
DATE CREATED: 5/2/2023 8:15 AM
DATE MODIFIED: 5/2/2023 8:51 AM
6. The word entrepreneur is derived from the Spanish word entreprendre, meaning “to undertake.”
a. True
b. False
ANSWER: False
RATIONALE: The origin of this word is French.
POINTS: 1
REFERENCES: 1.4 The Evolution of Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNINGOBJECTIVES: ENTR.KURA.24.1.6-Paraphraseacomprehensivedefinitionofentrepreneurship
DATE CREATED: 5/2/2023 8:51 AM
DATE MODIFIED: 5/2/2023 8:54 AM
7. There is no single definition of an entrepreneur.
a. True
b. False
ANSWER: True
RATIONALE: Entrepreneur can mean catalyst for change, one who undertakes risk, etc.
POINTS: 1
REFERENCES: 1.4 The Evolution of Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.6 - Paraphrase a comprehensive definition of
entrepreneurship DATE CREATED: 5/2/2023 8:54 AM
Page 2
,DATE MODIFIED: 5/2/2023 8:55 AM
8. Women and minority entrepreneurs face the same obstacles as other entrepreneurs.
a. True
b. False
ANSWER: False
RATIONALE: Women and minority entrepreneurs face additional obstacles.
POINTS: 1
REFERENCES: 1.8 Twenty-First-Century Trends in Entrepreneurship Research
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.9 - Outline the trends in entrepreneurship research
DATE CREATED: 5/2/2023 9:01 AM
DATE MODIFIED: 5/2/2023 9:03 AM
9. Entrepreneurs are typically well-organized, not shoot from the hip gunslingers.
a. True
b. False
ANSWER: True
RATIONALE: Entrepreneurs must be involved in all aspects of the business and tend to have systems.
POINTS: 1
REFERENCES: 1.5 Avoiding Folklore: The Myths of Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.3 - Summarize the myths of entrepreneurship
DATE CREATED: 5/2/2023 8:55 AM
DATE MODIFIED: 5/2/2023 9:05 AM
10. Experience portfolios will be an increasing part of entrepreneurship education.
a. True
b. False
ANSWER: True
RATIONALE: Experience portfolios in entrepreneurship education would include ideas, pitches, business
models, and other experiences.
POINTS: 1
REFERENCES: 1.9 The Future Trajectory of Entrepreneurship: The Entrepreneurial Mindset
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.10 - Examine the future trajectory of entrepreneurship
DATE CREATED: 5/2/2023 9:03 AM
DATE MODIFIED: 5/2/2023 9:07 AM
11. Recognition and discussion of entrepreneurship date back to the eighteenth century with which economist?
a. Joseph Schumpeter
b. Jean Baptiste Say
c. Richard Cantillon
Page 3
, d. Robert C. Ronstadt
ANSWER: c
RATIONALE: Recognition of entrepreneurs started with French economist Richard Cantillon.
POINTS: 1
REFERENCES: 1.4 The Evolution of Entrepreneurship
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.2 - Examine the historical development of entrepreneurship
DATE CREATED: 5/2/2023 9:07 AM
DATE MODIFIED: 5/2/2023 9:09 AM
12. What are some key elements in the structure of organizing the study of entrepreneurship?
a. Dynamic leadership and material
b. Consistent leadership and authority
c. Dynamic material and case studies
d. Consistent leadership and material
ANSWER: b
RATIONALE: Within the educational structure, the study of entrepreneurship should have consistent
leadership and authority.
POINTS: 1
REFERENCES: 1.9 The Future Trajectory of Entrepreneurship: The Entrepreneurial Mindset
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.10 - Examine the future trajectory of entrepreneurship
DATE CREATED: 5/2/2023 9:09 AM
DATE MODIFIED: 5/2/2023 9:12 AM
13. Who created a summary description of entrepreneurship?
a. Joseph Schumpeter
b. Jean Baptiste Say
c. Richard Cantillon
d. Robert C. Ronstadt
ANSWER: d
RATIONALE: Robert C. Ronstadt created a summary definition of entrepreneurship.
POINTS: 1
REFERENCES: 1.4 The Evolution of Entrepreneurship
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.2 - Examine the historical development of entrepreneurship
DATE CREATED: 5/2/2023 9:12 AM
DATE MODIFIED: 5/2/2023 9:20 AM
14. The following terms describe entrepreneurs, but generally not small-business owners.
a. Innovation, growth, profitability
b. Growth, innovation, stable
c. Profitability, stable sales, growth
Page 4
1. Entrepreneurs are aggressive catalysts for change within the marketplace.
a. True
b. False
ANSWER: True
RATIONALE: Entrepreneurs see opportunity where others might see chaos.
POINTS: 1
REFERENCES: 1.1 Entrepreneurs: Breakthrough Innovators
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.1 - Identify the major types of entrepreneurial ventures
DATE CREATED: 5/2/2023 7:59 AM
DATE MODIFIED: 5/2/2023 8:08 AM
2. During the past 10 years, new business start-ups averaged more than 600,000 per year.
a. True
b. False
ANSWER: True
RATIONALE: There are many start-ups each year in the United States, averaging over
POINTS: 1
REFERENCES: 1.7 The Entrepreneurial Revolution: A Global Phenomenon
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNINGOBJECTIVES: ENTR.KURA.24.1.7-Examinetheentrepreneurialrevolutiontakingplacetoday
DATE CREATED: 5/2/2023 8:08 AM
DATE MODIFIED: 5/2/2023 8:10 AM
3. Employees embrace fear, while entrepreneurs are willing to take calculated risks.
a. True
b. False
ANSWER: True
RATIONALE: Entrepreneurship is a dynamic process of vision, change, and creation.
POINTS: 1
REFERENCES: 1.4 The Evolution of Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNINGOBJECTIVES: ENTR.KURA.24.1.6-Paraphraseacomprehensivedefinitionofentrepreneurship
DATE CREATED: 5/2/2023 8:10 AM
DATE MODIFIED: 5/2/2023 8:12 AM
4. The entrepreneurial spirit is unique to the modern age.
a. True
b. False
ANSWER: False
RATIONALE: The entrepreneurs have existed since eighteenth-century France.
Page 1
,POINTS: 1
REFERENCES: 1.4 The Evolution of Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.2 - Examine the historical development of entrepreneurship
DATE CREATED: 5/2/2023 8:12 AM
DATE MODIFIED: 5/2/2023 8:15 AM
5. A “gazelle” is a business establishment with at least 5 percent sales growth every year for 25 years.
a. True
b. False
ANSWER: False
RATIONALE: Gazelles are based on innovation and experience high growth each year.
POINTS: 1
REFERENCES: 1.7 The Entrepreneurial Revolution: A Global Phenomenon
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.8 - Illustrate today’s entrepreneurial environment
DATE CREATED: 5/2/2023 8:15 AM
DATE MODIFIED: 5/2/2023 8:51 AM
6. The word entrepreneur is derived from the Spanish word entreprendre, meaning “to undertake.”
a. True
b. False
ANSWER: False
RATIONALE: The origin of this word is French.
POINTS: 1
REFERENCES: 1.4 The Evolution of Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNINGOBJECTIVES: ENTR.KURA.24.1.6-Paraphraseacomprehensivedefinitionofentrepreneurship
DATE CREATED: 5/2/2023 8:51 AM
DATE MODIFIED: 5/2/2023 8:54 AM
7. There is no single definition of an entrepreneur.
a. True
b. False
ANSWER: True
RATIONALE: Entrepreneur can mean catalyst for change, one who undertakes risk, etc.
POINTS: 1
REFERENCES: 1.4 The Evolution of Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.6 - Paraphrase a comprehensive definition of
entrepreneurship DATE CREATED: 5/2/2023 8:54 AM
Page 2
,DATE MODIFIED: 5/2/2023 8:55 AM
8. Women and minority entrepreneurs face the same obstacles as other entrepreneurs.
a. True
b. False
ANSWER: False
RATIONALE: Women and minority entrepreneurs face additional obstacles.
POINTS: 1
REFERENCES: 1.8 Twenty-First-Century Trends in Entrepreneurship Research
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.9 - Outline the trends in entrepreneurship research
DATE CREATED: 5/2/2023 9:01 AM
DATE MODIFIED: 5/2/2023 9:03 AM
9. Entrepreneurs are typically well-organized, not shoot from the hip gunslingers.
a. True
b. False
ANSWER: True
RATIONALE: Entrepreneurs must be involved in all aspects of the business and tend to have systems.
POINTS: 1
REFERENCES: 1.5 Avoiding Folklore: The Myths of Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.3 - Summarize the myths of entrepreneurship
DATE CREATED: 5/2/2023 8:55 AM
DATE MODIFIED: 5/2/2023 9:05 AM
10. Experience portfolios will be an increasing part of entrepreneurship education.
a. True
b. False
ANSWER: True
RATIONALE: Experience portfolios in entrepreneurship education would include ideas, pitches, business
models, and other experiences.
POINTS: 1
REFERENCES: 1.9 The Future Trajectory of Entrepreneurship: The Entrepreneurial Mindset
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.10 - Examine the future trajectory of entrepreneurship
DATE CREATED: 5/2/2023 9:03 AM
DATE MODIFIED: 5/2/2023 9:07 AM
11. Recognition and discussion of entrepreneurship date back to the eighteenth century with which economist?
a. Joseph Schumpeter
b. Jean Baptiste Say
c. Richard Cantillon
Page 3
, d. Robert C. Ronstadt
ANSWER: c
RATIONALE: Recognition of entrepreneurs started with French economist Richard Cantillon.
POINTS: 1
REFERENCES: 1.4 The Evolution of Entrepreneurship
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.2 - Examine the historical development of entrepreneurship
DATE CREATED: 5/2/2023 9:07 AM
DATE MODIFIED: 5/2/2023 9:09 AM
12. What are some key elements in the structure of organizing the study of entrepreneurship?
a. Dynamic leadership and material
b. Consistent leadership and authority
c. Dynamic material and case studies
d. Consistent leadership and material
ANSWER: b
RATIONALE: Within the educational structure, the study of entrepreneurship should have consistent
leadership and authority.
POINTS: 1
REFERENCES: 1.9 The Future Trajectory of Entrepreneurship: The Entrepreneurial Mindset
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.10 - Examine the future trajectory of entrepreneurship
DATE CREATED: 5/2/2023 9:09 AM
DATE MODIFIED: 5/2/2023 9:12 AM
13. Who created a summary description of entrepreneurship?
a. Joseph Schumpeter
b. Jean Baptiste Say
c. Richard Cantillon
d. Robert C. Ronstadt
ANSWER: d
RATIONALE: Robert C. Ronstadt created a summary definition of entrepreneurship.
POINTS: 1
REFERENCES: 1.4 The Evolution of Entrepreneurship
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: ENTR.KURA.24.1.2 - Examine the historical development of entrepreneurship
DATE CREATED: 5/2/2023 9:12 AM
DATE MODIFIED: 5/2/2023 9:20 AM
14. The following terms describe entrepreneurs, but generally not small-business owners.
a. Innovation, growth, profitability
b. Growth, innovation, stable
c. Profitability, stable sales, growth
Page 4
