Test on Entrepreneurial Ventures: Characteristics and Types
Entrepreneurial Ventures: Characteristics and Types Explained
Test: Entrepreneurship
20 questions
Question 1: An entrepreneurial business venture has the potential to generate a profit.
A. Ano
B. Ne
Explanation: The study materials state that the entrepreneurial business venture has the potential to generate a profit and to achieve growth.
Question 2: Informal entrepreneurs are subject to limited legal requirements.
A. Ano
B. Ne
Explanation: The study materials indicate that there are limited legal requirements for entrepreneurs operating in the informal sector.
Question 3: Informal entrepreneurs typically operate from fixed premises or formal business locations.
A. Ano
B. Ne
Explanation: The study materials state that informal entrepreneurs 'often has no fixed premises or formal business location'.
Question 4: Social entrepreneurs primarily aim to develop new technologies or use technology to grow their businesses.
A. Ano
B. Ne
Explanation: Social entrepreneurs start ventures to solve social problems in society, often operating as Non-Governmental Organisations (NGOs). Techno-entrepreneurs are the ones who look for ways to develop technology or use technology to grow their business.
Question 5: A business that merely aims to survive is always looking for ways to grow by innovating and offering its products or services to a broader target market.
A. Ano
B. Ne
Explanation: A business that merely aims to survive is satisfied with its current customer base only. An entrepreneurial business venture, however, is always looking for ways to grow by innovating and offering its products or services to a broader target market.