What is the term for a person who starts and manages a business with the aim of making a profit?
Investor
Entrepreneur
Innovator
Executive
Correct Answer :
B. Entrepreneur
Related Questions
Which of the following is a common form of intellectual property protection for inventions and innovations?
Trademark
Copyright
Patent
Trade secret
What is a unique selling proposition (USP) in marketing?
A strategy for selling products at a higher price
A distinctive feature or benefit that sets a product apart from competitors
The process of selling products to unique customer segments
A pricing strategy for premium products
Which type of entrepreneurship involves creating and operating a business primarily for the lifestyle benefits it provides to the owner?
Serial entrepreneurship
Social entrepreneurship
Lifestyle entrepreneurship
Corporate entrepreneurship
What is a cash flow statement used for in business finance?
Tracking money spent on marketing
Analyzing the movement of money in and out of a business
Calculating the net worth of a business
Estimating future sales revenue
What is the term for the total market value of all goods and services produced by a country in a given period?
Gross Domestic Product (GDP)
Net Profit Margin
Return on Investment (ROI)
Cost of Goods Sold (COGS)
What is the primary characteristic of an entrepreneur?
Risk aversion
Innovation and risk-taking
Following established norms
Avoiding challenges
What is the term for the initial phase of a business where the entrepreneur tests the feasibility of their business idea?
Startup phase
Pilot phase
Feasibility phase
Proof of concept phase
Which type of innovation involves making significant improvements to existing products or processes?
Disruptive
Incremental
Breakthrough
Radical
Which of the following is NOT a common characteristic of an entrepreneurial mindset?
Risk aversion
Creativity
Resilience
Adaptability
What is the term for the process of identifying potential customers and tailoring marketing efforts to reach them?
Market segmentation
Target marketing
Customer profiling
Product positioning
What is the term for a legal form of business where the owner has limited liability?
Sole proprietorship
Partnership
Corporation
Limited liability partnership
What is the term for a person who provides financial backing for a startup in exchange for ownership equity or debt?
Mentor
Investor
Co-founder
Partner
What is a SWOT analysis used for in entrepreneurship?
Evaluating internal and external factors influencing a business
Identifying potential customers
Calculating financial projections
Assessing employee performance
What type of innovation involves creating entirely new products or processes that disrupt existing markets?
Incremental
Disruptive
Breakthrough
Radical
What is a business model?
A visual representation of a company's structure
The way a company creates, delivers, and captures value
A list of all the employees in a company
The physical location of a business
Which of the following is NOT a key characteristic of a successful entrepreneur?
Perseverance
Creativity
Risk aversion
Adaptability
What is the term for a legally recognized entity that separates the personal assets of the owners from the business assets?
Sole proprietorship
Partnership
Limited liability company (LLC)
Corporation
Which of the following is NOT a common method of market entry for international expansion?
Franchising
Licensing
Insourcing
Joint venture
What is the term for the process of gathering information about potential customers and their preferences?
Market research
Customer segmentation
Product development
Competitive analysis
What is the term for a legal document that outlines the rights and responsibilities of partners in a business venture?
Business plan
Partnership agreement
Memorandum of understanding (MOU)
Articles of incorporation
Which of the following is NOT a common source of funding for startups?
Venture capital
Crowdfunding
Taxation
Angel investors
What is the term for a document that outlines a company's mission, vision, goals, and strategies?
Business plan
Marketing plan
Financial statement
Operational manual
What type of innovation involves making incremental improvements to existing products or processes?
Disruptive
Radical
Incremental
Breakthrough
What is the term for the process of determining the price at which a product or service will be sold to customers?
Cost analysis
Pricing strategy
Market segmentation
Revenue forecasting
What is the term for the process of seeking and obtaining financial backing for a business venture?
Funding procurement
Capital acquisition
Financing
Fundraising
What is the term for the process of bringing together people, capital, and resources to start and run a business?
Incubation
Formation
Entrepreneurship
Aggregation
What is the term for the process of finding, attracting, and hiring new employees for a business?
Recruitment
Training
Onboarding
Human resources management
What is the process of generating, developing, and communicating new ideas for business development called?
Market research
Product development
Innovation
Business planning
Which of the following is an example of a non-profit organization that engages in entrepreneurial activities to achieve social or environmental goals?
Red Cross
Microsoft
Coca-Cola
Apple Inc.
Which stage of the entrepreneurial process involves turning an idea into a tangible product or service?
Opportunity recognition
Idea generation
Product development
Market entry