Test bank for entrepreneurship theory process and practice 10th edition by Donald kuratko

Name: Class: Date:


CHAPTER 01: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT-REVOLUTIONARY IMPACT

Indicate whether the statement is true or false.

1. Entrepreneurs are aggressive catalysts for change within the marketplace. a. True
b. False




2. The terms entrepreneur and small-business owner are never used interchangeably. a. True
b. False




3. Entrepreneurs are the major source of innovation and job creation in any economy. a.
True
b. False




4. Entrepreneurship is more than the mere creation of a business. a. True
b. False




5. During the past ten years, new business incorporations averaged nearly 400,000 per year.
a. True
b. False




6. A sizeable body of research has developed that supports the individual frameworks
through the schools of thought may be particularly valuable to advancing the field of
entrepreneurship. a. True
b. False




7. The entrepreneurial spirit is unique to America and Western Europe. a. True
b. False




8. A “gazelle” is a business establishment with at least five percent sales growth every year
for 25 years. a. True
b. False

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,Name: Class: Date:


CHAPTER 01: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT-REVOLUTIONARY IMPACT




9. Gazelles produce half the innovations per employee that larger firms typically do. a. True
b. False




10. New and smaller firms obtain more patents per sale than do larger firms. a. True
b. False




11. Gazelles produced 5 million jobs despite the continual downsizing in major corporations
over the last decade.
a. True
b. False




12. New and smaller firms are responsible for 95 percent of all radical innovations. a. True
b. False




13. Gazelles are almost always high tech.
a. True
b. False




14. Gazelles do not always get venture capital funding.
a. True
b. False




15. Three characteristics of an entrepreneur are personal initiative, management skills, and a desire
for autonomy. a. True
b. False




16. Large firms, as opposed to entrepreneurs, are the aggressive catalyst for change in the world of
business. a. True

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, Name: Class: Date:


CHAPTER 01: ENTREPRENEURSHIP: EVOLUTIONARY DEVELOPMENT-REVOLUTIONARY IMPACT


b. False




17. The word entrepreneur is derived from the Spanish word entreprendre, meaning “to undertake.”
a. True
b. False




18. There is no single definition of an entrepreneur.
a. True
b. False




19. Recognition of entrepreneurs dates back to the French economist Robert Ronstadt. a. True
b. False




20. Entrepreneurs are the major source of innovation and job creation in the economy. a. True
b. False




21. According to Robert C. Ronstadt, entrepreneurship is the process of creating incremental wealth.
a. True
b. False




22. Most entrepreneurs are inventors.
a. True
b. False




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