Test Bank for Entrepreneurship 11th Edition by Robert Hisrich

Entrepreneurship, 11e (Hisrich)
Chapter 1 The Entrepreneurial Mind-Set

1) Entrepreneurial thinking is partly a mental process of recognizing a signal and then deciding if
the signal represents an opportunity for someone.

Answer: TRUE
Difficulty: 2 Medium
Learning Objective: 01-01 To introduce the concept of entrepreneurship and explain the
process of entrepreneurial action.
Accessibility: Keyboard Navigation

2) Entrepreneurial thinking partly is about reducing doubt as to whether an opportunity for
someone is also an opportunity for them specifically, and/or processing feedback from action
steps taken.

Answer: TRUE
Difficulty: 2 Medium
Learning Objective: 01-01 To introduce the concept of entrepreneurship and explain the
process of entrepreneurial action.
Accessibility: Keyboard Navigation

3) Entrepreneurial opportunities are those situations in which new goods, services, raw materials
and organizing methods can be sold at greater than their production cost.

Answer: TRUE
Difficulty: 1 Easy
Learning Objective: 01-01 To introduce the concept of entrepreneurship and explain the
process of entrepreneurial action.
Accessibility: Keyboard Navigation

4) Entrepreneurial action can be defined as those situations in which new goods, services, raw
materials and organizing methods can be sold at greater than their production cost.

Answer: FALSE
Difficulty: 1 Easy
Learning Objective: 01-01 To introduce the concept of entrepreneurship and explain the
process of entrepreneurial action.
Accessibility: Keyboard Navigation