Question 1

What is the importance of integrity in entrepreneurship?

Accepted Answer

It builds trust with stakeholders

Answer

It increases profit margins

Answer

It accelerates business growth

Answer

It ensures employee satisfaction

Question 2

What is the role of ethical decision-making in entrepreneurship?

Accepted Answer

It establishes a strong moral foundation for business practices

Answer

It increases competition among entrepreneurs

Answer

It eliminates the need for legal compliance

Answer

It guarantees instant success for the entrepreneur

Question 3

Why is it important for entrepreneurs to maintain transparency in their operations?

Accepted Answer

It promotes trust and credibility with stakeholders

Answer

It guarantees higher profits

Answer

It eliminates the need for market research

Answer

It increases competition in the industry

Question 4

What is the purpose of a code of ethics in entrepreneurship?

Accepted Answer

To establish guidelines for ethical behavior and decision-making

Answer

To exclude competition from the market

Answer

To maximize personal financial gain

Answer

To bypass legal regulations

Question 5

Which of the following is an important characteristic of successful entrepreneurs?

Accepted Answer

Creativity and innovation

Answer

Ability to follow instructions

Answer

Lack of passion

Answer

Risk aversion

Question 6

What is the purpose of a business plan?

Accepted Answer

To outline the goals and strategies of a business

Answer

To advertise products and services

Answer

To track daily expenses

Answer

To hire employees

Question 7

What is the meaning of the term 'bootstrapping' in entrepreneurship?

Accepted Answer

Starting and growing a business with minimal external resources or capital

Answer

Giving up on a business idea

Answer

Investing heavily in a business

Answer

Hiring a large team from the beginning

Question 8

What does the term 'pivot' mean in entrepreneurship?

Accepted Answer

To change the business strategy or direction in response to market feedback

Answer

To invest heavily in marketing

Answer

To stay committed to the original business plan

Answer

To hire additional employees

Question 9

What is the definition of market research in entrepreneurship?

Accepted Answer

Gathering and analyzing information about target markets and customers

Answer

Building a strong team

Answer

Developing new products and services

Answer

Securing funding for a business

Question 10

What is a mission statement?

Accepted Answer

A concise statement that defines the purpose and goals of a company.

Answer

A report on a company's operational efficiency.

Answer

A document that outlines a company's financial projections.

Answer

A strategic plan for a company's marketing activities.

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