Test Bank For Global Entrepreneurship & Innovation Sarika Pruthi, Jay Mitra Chapter 2-15
MCQs with answers Chapter 2: Entrepreneurship and small firms 1.According to the chapter, ______ are individuals who start new business ventures. a. Employees b. Innovators c. Entrepreneurs d. Inventors Ans: C
2. According to the French economist, Jean Baptiste Say, entrepreneurs are defined as individuals who: a. Reduce costs of abundant resources b. Add value to abundant resources c. Reduce costs of scarce resources d. Add value to scarce resources Ans: D
3. In introducing innovations, entrepreneurs destroy existing markets and create new ones. This is Schumpeter‟s idea of______: a. Creative destruction b. Commercialization c. Creative creation d. Invention Ans: A