Chapter 01 - Entrepreneurship and the Entrepreneurial Mind-Set
Chapter 01
Entrepreneurship and the Entrepreneurial Mind-Set
True / False Questions
1. (p. 4) Ewing Kauffman took a risk when he started his company Marion Labs in 1950.
TRUE
Accessibility: Keyboard Navigation
Difficulty: Medium
2. (p. 5) How Ewing Kauffman ran his business illustrates corporate entrepreneurship.
TRUE
Accessibility: Keyboard Navigation
Difficulty: Medium
3. (p. 6) Entrepreneurial opportunities are those situations in which new goods, services, raw
materials and organizing methods can be sold at greater than their production cost.
TRUE
Accessibility: Keyboard Navigation
Difficulty: Medium
,Chapter 01 - Entrepreneurship and the Entrepreneurial Mind-Set
4. (p. 6) Entrepreneurial action can be defined as those situations in which new goods, services,
raw materials and organizing methods can be sold at greater than their production cost.
FALSE
Accessibility: Keyboard Navigation
Difficulty: Medium
,Chapter 01 - Entrepreneurship and the Entrepreneurial Mind-Set
5. (p. 6) The McMullen-Shepherd Model helps identify the common traits of successful
entrepreneurs.
FALSE
Accessibility: Keyboard Navigation
Difficulty: Easy
6. (p. 6) The McMullen-Shepherd Model explains how knowledge and motivation influence two
stages of entrepreneurial action.
TRUE
Accessibility: Keyboard Navigation
Difficulty: Medium
7. (p. 6) In the McMullen-Shepherd Model first person opportunity beliefs come before third
person opportunity beliefs.
FALSE
Accessibility: Keyboard Navigation
Difficulty: Hard
8. (p. 6) In the McMullen-Shepherd Model the first stage is the evaluation stage.
FALSE
Accessibility: Keyboard Navigation
Difficulty: Medium
, Chapter 01 - Entrepreneurship and the Entrepreneurial Mind-Set
9. (p. 7) Superficial similarities exist when the underlying mechanisms of the technology
resemble, or match, the underlying mechanisms of the market.
FALSE
Accessibility: Keyboard Navigation
Difficulty: Medium
Chapter 01
Entrepreneurship and the Entrepreneurial Mind-Set
True / False Questions
1. (p. 4) Ewing Kauffman took a risk when he started his company Marion Labs in 1950.
TRUE
Accessibility: Keyboard Navigation
Difficulty: Medium
2. (p. 5) How Ewing Kauffman ran his business illustrates corporate entrepreneurship.
TRUE
Accessibility: Keyboard Navigation
Difficulty: Medium
3. (p. 6) Entrepreneurial opportunities are those situations in which new goods, services, raw
materials and organizing methods can be sold at greater than their production cost.
TRUE
Accessibility: Keyboard Navigation
Difficulty: Medium
,Chapter 01 - Entrepreneurship and the Entrepreneurial Mind-Set
4. (p. 6) Entrepreneurial action can be defined as those situations in which new goods, services,
raw materials and organizing methods can be sold at greater than their production cost.
FALSE
Accessibility: Keyboard Navigation
Difficulty: Medium
,Chapter 01 - Entrepreneurship and the Entrepreneurial Mind-Set
5. (p. 6) The McMullen-Shepherd Model helps identify the common traits of successful
entrepreneurs.
FALSE
Accessibility: Keyboard Navigation
Difficulty: Easy
6. (p. 6) The McMullen-Shepherd Model explains how knowledge and motivation influence two
stages of entrepreneurial action.
TRUE
Accessibility: Keyboard Navigation
Difficulty: Medium
7. (p. 6) In the McMullen-Shepherd Model first person opportunity beliefs come before third
person opportunity beliefs.
FALSE
Accessibility: Keyboard Navigation
Difficulty: Hard
8. (p. 6) In the McMullen-Shepherd Model the first stage is the evaluation stage.
FALSE
Accessibility: Keyboard Navigation
Difficulty: Medium
, Chapter 01 - Entrepreneurship and the Entrepreneurial Mind-Set
9. (p. 7) Superficial similarities exist when the underlying mechanisms of the technology
resemble, or match, the underlying mechanisms of the market.
FALSE
Accessibility: Keyboard Navigation
Difficulty: Medium
