Entrepreneur
ICSE · Class 11 · Entrepreneurship
Practice quiz for Entrepreneur — ICSE Class 11 Entrepreneurship. MCQs and questions with answers to test your preparation.
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Quick Quiz: Entrepreneur
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What is the best definition of an entrepreneur in this chapter?
Which activity is a basic function of an entrepreneur?
Which example best matches an entrepreneur who identified a gap in affordable and standardised hotel services?
Which thinker defined an entrepreneur as a risk-bearer who buys goods at a certain price and sells them at an uncertain future price?
Sample Questions
According to Adam Smith, an entrepreneur mainly acts as a person who does what?
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Transforms demand into supply by organising production activities
Adam Smith described an entrepreneur as an economic agent who transforms demand into supply by organising production and responding to market needs.
Which thinker viewed the entrepreneur as an innovator who introduces new products, methods, markets, or forms of organisation?
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Joseph Schumpeter
Joseph Schumpeter viewed the entrepreneur as an innovator who introduces new products, methods, markets, or forms of organisation.
Which phrase is closely linked with Joseph Schumpeter's idea of entrepreneurship?
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Creative destruction
Schumpeter's idea of creative destruction describes how innovation replaces old products, methods and organisations with new ones.
Who defined an entrepreneur as a person who searches for change, responds to it, and exploits it as an opportunity?
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Peter F. Drucker
Peter F. Drucker defined an entrepreneur as one who searches for change, responds to it, and exploits it as an opportunity.
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