FULL TEST BANK For Entrepreneurship: The Practice and Mindset 1st Edition by Heidi M. Neck (Author), Questions And Answers Graded A+

FULL TEST BANK
For Entrepreneurship: The Practice and Mindset 1st
Edition by Heidi M. Neck (Author), Questions And
Answers Graded A+
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,Test Bank For
Entrepreneurship The Practice And Mindset 3th Edition By Heidi M. Neck,
Christopher P. Neck, Emma L. Murray
Chapter 1-16

CHAPTER 1: PRACTICING ENTREPRENEURSHIP

Multiple Choice

1. The Authors Define Entrepreneurship As .
a. A Way Of Thinking, Acting, And Being That Combines The Ability To Find Or
Create New Opportunities With The Courage To Act On Them
b. Starting A Small Business By Finding Investors And Launching A Product
c. Developing A New Market By Creating A Product That Does Not Currently Exist
d. A Mindset That Compels People To Start Multiple Ventures Throughout A
Lifetime Ans: A
Learning Objective: 1.1: Explain The Importance Of Action And Practice In
Entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship Requires Action And Practice
Difficulty Level: Medium
Aacsb Standard: Application Of Knowledge

2. Have Touched Every Corner Of Our Lives, Affecting Every Aspect
Of The Way We Live.
a. Lifestyles
b. Corporations
c. Entrepreneurs
d. Managers
Ans: C
Learning Objective: 1.1: Explain The Importance Of Action And Practice In
Entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship Requires Action And Practice
Difficulty Level: Medium
Aacsb Standard: Application Of Knowledge

3. What Is The Discipline That Seeks To Understand How Opportunities Are
Discovered, Created, And Exploited, By Whom, And With What
Consequences?
a. Imagineering
b. Storyboarding
c. Social Engineering
d. Entrepreneurship
Ans. D

,Learning Objective: 1.1: Explain The Importance Of Action And Practice In
Entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship Requires Action And Practice
Difficulty Level: Medium
Aacsb Standard: Application Of Knowledge

4. Which Of The Following Is A Truth About Entrepreneurship?
a. Entrepreneurship Is Not Reserved For Startups.
b. Entrepreneurship Cannot Be Taught.
c. Entrepreneurs Compete More Than They Collaborate.
d. Entrepreneurs Have A Special Set Of Personality
Traits. Ans: A
Learning Objective: 1.2: List The Seven Lesser-Known Truths About
Entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Entrepreneurship May Be Different From What You Think
Difficulty Level: Easy
Aacsb Standard: Analytical Thinking

5. The Media Often Cover The Meteoric Rise Of Entrepreneurs Such As Bill
Gates (Microsoft) And Travis Kalanick (Uber). According To The Text, These
Stories
.
a. Are Inspirational, But Do Little To Represent The Reality Of Entrepreneurship
b. Are Highly Relatable
c. Have Not Captured The Public Imagination
d. Are Accurate Depictions Of The Reality Of
Entrepreneurship Ans: A
Learning Objective: 1.2: List The Seven Lesser-Known Truths About
Entrepreneurship.
Cognitive Domain: Comprehension
Answer Location: Media Images Of
Entrepreneurs Difficulty Level: Medium
Aacsb Standard: Contexts Of Organizations In A Global Society

6. A Temporary Organization In Search Of A Scalable Business Model Is
Known As A(N) .
a. Startup
b. Corporation
c. Llc
d. Entrepreneur
Ans: A
Learning Objective: 1.2: List The Seven Lesser-Known Truths About
Entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Truth #1: Entrepreneurship Is Not Reserved For Startups

, Difficulty Level: Medium
Aacsb Standard: Application Of Knowledge

7. Effectuation Is The Idea That .
a. Businesses Should Have A Positive Impact On People‘S Lives
b. The Effects Of Ideas Can Be Studied Over Time
c. The Future Is Unpredictable Yet Controllable
d. Emotions Can Influence Decision
Making Ans. C
Learning Objective: 1.2: List The Seven Lesser-Known Truths About
Entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Truth #2: Entrepreneurs Do Not Have A Special Set Of
Personality Traits
Difficulty Level: Medium
Aacsb Standard: Financial Theories, Analysis, Reporting, And Markets

8. Are People Who Start Several Businesses, Whether At The Same
Time Or One After The Other.
a. Social Entrepreneurs
b. Serial Entrepreneurs
c. High-Risk Entrepreneurs
d. Low-Risk
Entrepreneurs Ans: B
Learning Objective: 1.2: List The Seven Lesser-Known Truths About
Entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Truth #2: Entrepreneurs Do Not Have A Special Set Of
Personality Traits
Difficulty Level: Easy
Aacsb Standard: Group And Individual Behaviors

9. Which Of The Following Is True About Effectual Entrepreneurs?
a. They Focus On Creating A Future Rather Than Predicting It.
b. They Find Markets Rather Than Make Them.
c. They Do Not Accept Failure.
d. They Focus On A Single Reliable
Stakeholder. Ans: A
Learning Objective: 1.2: List The Seven Lesser-Known Truths About
Entrepreneurship.
Cognitive Domain: Knowledge
Answer Location: Truth #2: Entrepreneurs Do Not Have A Special Set Of
Personality Traits
Difficulty Level: Easy
Aacsb Standard: Analytical Thinking