Assignment 001

1. A person who is able to identify business opportunities and implement actions to maximize on
the opportunities
Answer: Entrepreneur
2. Successful entrepreneurs always have the profit margin in sight and know that their business
success is measured by profits.
Answer: Focus on profits
3. Entrepreneurs are very creative hence; they contribute to the utilization and development of
technology.
Answer: Promotion of Technology
4. Adequate reward
Answer: Profit
5. An intra company entrepreneur
Answer: Intrapreneur
6. A situation in which an individual works for himself instead of working for an employer that pays
a salary or a wage.
Answer: Self-employed
7. Entrepreneurs have strong desire to achieve higher goals.
Answer: Need to achieve
8. Created when such innovation results in new demand
Answer: Wealth
9. Entrepreneurs help in the creation of wealth for the country through job creation.
Answer: Capital Formation

Short Quiz 001

1. Besides the inability to secure any type of employment this is the most basic reason for self-
employment.
Answer: Need to improve personal income
2. There are those people in society whose ultimate goal is to go into business at some defined
point life no matter how attractive wage employment might seem.
Answer: To fulfill a life-long ambition
3. Being the leader of the enterprise, entrepreneurs should possess which of the following
characteristic.
Answer: Common objectivity, Assumption of responsibility, Empathy conduct (All of the
choices)
4. The ability to exert interpersonal influence by means of communication towards the
achievement of goals
Answer: Leadership
5. Entrepreneurs can choose the best way to do something, even if it is different from how they
want to do it.
Answer: Ability to accept change
6. Entrepreneurs are capable of working for long hours and solving different complexities at the
same time.
Answer: Make stress work for them
7. Involves innovation, risk taking, and decision-making
Answer: image
8. Entrepreneurs are always alert to opportunities.
 Answer: An eye for opportunity
9. The ability to implement creative ideas
Answer: Innovativeness
10. His definition of entrepreneurship placed an emphasis on innovation.
Answer: Joseph Schumpeter
11. Eager for knowledge
Answer: Inquisitive
12. There are not enough employment opportunities in the formal sector. The small business sector
has the capacity to create many jobs.
Answer: Inability to secure a desirable job