ENCS 692 Midterm Exam Review Guide

(may subject to minor revision – see Moodle to keep updated)

This is a 1 hour closed-book online exam. The 30 questions (1 point for each) come from the following:
Q1 (true or false): definition of entrepreneurship
Q2 (true or false): definition of entrepreneurship & market feasibility
Q3 (true or false): definition of entrepreneurship & four business models
Q4 (true or false): definition of innovation
Q5 (true or false): market feasibility – relationship between degree of innovation, risk, and profitability
Q6 (true or false): SWOT analysis
Q7 (multiple choice): Week 1 discussion: Do you agree or disagree with the following statement about entrepreneurs
Q8 (multiple choice): definition of entrepreneurship – available resources
Q9 (multiple choice): definition of entrepreneurship – perceived opportunities
Q10 (multiple choice): definition of entrepreneurship – perceived opportunities
Q11 (multiple choice): incremental and radical innovation
Q12 (multiple choice): the S-Curve of innovation
Q13 (multiple choice): the S-Curve of innovation
Q14 (multiple choice): opportunity recognition process developed by Lumpkin, Hills, and Shrader
Q15 (multiple choice): opportunity recognition process developed by Lumpkin, Hills, and Shrader
Q16 (multiple choice): business environment
Q17 (multiple choice): feasibility study
Q18 (multiple choice): marginal – optimal decisions (decision making rule)
Q19 (multiple choice): sunk cost vs. opportunity cost – definition
Q20 (multiple choice): sunk cost vs. opportunity cost – business production decision making
Q21 (multiple choice): business production decision making (similar to Week 5 lecture case 1)
Q22 (multiple choice): business production decision making (similar to Week 5 lecture case 2)
Q23 (multiple choice): short run vs. long run – definition
Q24 (multiple choice): short run cost graph (similar to Week 5 exercise 9)
Q25 (multiple choice): short run cost graph (similar to Week 5 exercise 9)
Q26 (multiple choice): short run cost function (similar to Week 5 exercise 8)
Q27 (multiple choice): short run cost function (similar to Week 5 exercise 8)
Q28 (multiple choice): long run cost graph
Q29 (multiple choice): short run cost graph (similar to Week 5 exercise 10)
Q30 (multiple choice): short run cost graph (similar to Week 5 exercise 10)