Test # 2- ESE| 101 questions| with complete solutions

what is entrepreneurship Correct Answer: is a process through which individuals and groups pursue opportunity, leverage resourses, and initiate change to CREATE VALUE who is an entrepreneur Correct Answer: pursuing opportunity, acting with passion , for a purpose, living proactively and leveraging resources to create value. an entrepreneur is a ___ not a __ Correct Answer: doer not a dreamer an entrepreneur destroys..... Correct Answer: exisiting economic order by introducing new products and services...... JB say states that an entrepreneur shifts economic resources out of an area of ___ and into an area of __ productivity and greater yield. there also needs to be __ involved as well as a ___ that exists Correct Answer: lower, higher action, need if labor can be invested in a more effective way entrepreneurs ___ do so Correct Answer: will an entrep is one who creates and manages change by pursuing opportunity, acting with passion, for a purpose, living proactively and leveraging resources to create value Correct Answer: entreprenuership is important because..... Correct Answer: there will be no economic growth schramm's theory about economic growth..... Correct Answer: economic growth is not entirely dependent on capital. economic growth is also due to creativity schramm... job creation leads to an __ standard of living grameen bank Correct Answer: improved Schrumpeter Correct Answer: The process of creating new industries does not go forward without sweeping away the preexisting order. destroys the existing economic order by introducing new products and services, by creating new forms of organization ( and processes), or by exploiting new raw materials Correct Answer: creative destruction __ economy, ___ econ, __ econ, __ econ Correct Answer: resource, automated, knowledge and entrepreneurial