ET340 EXAM Questions with Complete Solutions

ET340 EXAM Questions with Complete Solutions This is the discipline that seeks to understand how opportunities are discovered, created, and exploited, by whom, and with what consequences. - Answerentrepreneurship A launching pad for creativity and innovation, the ______ provided people with the right to private property, access to a banking system, and protection in the form of patent laws. - Answer-US Constitution Which of the following led to entrepreneurship regaining its popularity over the last decades of the 20th century? - Answer-All of these Which of the following is NOT an aspect of the Entrepreneurship Ecosystem described in the chapter? - Answer-open-access patent databasesopen-access patent databases Which of the following is NOT a condition for small and medium businesses to flourish in a country? - Answer-Large population size Sarah is an accountant with desires to open her own business. She is looking for office space at a reasonable rate along with Internet service. Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, she needs ______. - Answer-physical infrastructure Rahul wants to start a spice business but wants a secure framework with experts in property rights, accounting, law, investment banking, and technology. Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, he needs ______. - Answer-commercial and legal infrastructure Angela wants to start a company developing apps. She needs access to research and development (R&D) to be able to use the newest technologies. Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, she needs ______. - Answer-research and development transfer Maria wants to start a landscaping business, but she doesn't know where to start. She thinks she will need tax incentives and lower interest rates on her business lines. Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, she particularly needs ______. - Answer-all of these Anthony wants to start a restaurant but he knows he has a lot to learn about starting a business. Of the conditions that need to be put in place for the Entrepreneurial Ecosystem, he particularly needs ______. a. financial resources - Answer-entrepreneurship education What invention came to symbolize the ingenuity of Colonial America? - Answer-The lightning rod Which Founding Father is considered one of history's greatest entrepreneurs? - Answer-Benjamin Franklin What factor(s) contributed to the golden age of entrepreneurship? - Answer-all of these During the______, everyone had a fairly equal chance of being an entrepreneur; inventors became more commonplace, producing new products and services alongside the merchants and industrialists. - Answer-First Industrial Revolution () During which period was entrepreneurship at its height? - Answer-Second Industrial Revolution () During the period between 1920 and 1975, which of the following did NOT contribute to the decline of the traditional entrepreneur? - Answer-The transition toward a knowledgebased economy. What era signaled a shift from the traditional entrepreneur to the big corporation? - Answer-Interwar and Postwar America During which period of time was the "tech entrepreneur" born? - Answer-Knowledge Economy 1.0, 1975-Present The older view to approaching entrepreneurship as a linear process (i.e. the steps are followed and the outcomes can be expected) is known as: - Answer-predictive logic Entrepreneurs who determine their goals based on the resources they have are using ______. - Answer-creation logic Planning for the catering at an event by sending out invitations and asking for RSVPs by a certain date is an example of ______. - Answer-predictive logic