Introduction to Entrepreneurship, International Edition, Kuratko - Complete test bank - exam questions - quizzes (updated 2022)

CHAPTER 1: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT-
REVOLUTIONARY IMPACT




TRUE/FALSE



1. Entrepreneurs are aggressive catalysts for change within the marketplace.


ANS: T PTS: 1

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2. Entrepreneurs are not heroes in today’s marketplace.


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3. Entrepreneurs are the major source of innovation and job creation in any economy.


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4. Entrepreneurship is more than mere creation of business.


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5. Small enterprises are the most common form of establishment, regardless of the industry.


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6. During the past ten years, new business incorporations averaged 600,000 per year.


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7. One of every 1000 adults participates in the founding of a new firm every year.


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8. The entrepreneurial spirit is unique to America and Western Europe.


ANS: F PTS: 1

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9. A “gazelle” is a business establishment with at least 20 percent sales growth every year for
five years.


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10. Gazelles produce only one half the innovations per employee that larger firms do.


ANS: F PTS: 1

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11. New and smaller firms obtain more patents per sale than do larger firms.

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12. Gazelles produced 5 million jobs in the downsizing years of the 1990's.


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13. Gazelles always operate in national or international markets.


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14. New and smaller firms are responsible for 95% of all radical innovations.


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15. Gazelles are almost always high tech.


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16. Gazelles don’t always get VC funding.


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, 17. Women’s share of self employment will still lag behind that of men by the end of 2005.


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18. Three characteristics of an entrepreneur are personal initiative, management skills, and a
desire for autonomy.


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19. Large firms rather than the entrepreneur are the aggressive catalyst for change in the world
of business.


ANS: F PTS: 1

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20. The word entrepreneur is derived from the Spanish word entreprendre, meaning “to
undertake.”


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21. There is no single definition of an entrepreneur; however research is providing a sharper
focus on the subject.


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22. Recognition of entrepreneurs dates back to the French economist Richard Cantillon.