Entrepreneurship: The Practice and Mindset 1st Edition by Heidi M. Neck Test bank

b. people who start several businesses, whether at the same time or one after another 
c. business owners in the IT market
d. business owners developing their business vertically from source to sale
Ans: B
Learning Objective: 1.4. Compare and contrast the different forms of entrepreneurship in practice today.
Cognitive Domain: Comprehension
Answer Location: Serial Entrepreneurs
Difficulty Level: Medium
AACSB Standard: Analytical thinking
 
26. The global experiment, Unreasonable at Sea, ______.
a. held intensive training programs where entrepreneurs were matched with mentors and leveraged their collective technology experience to solve some of the world’s most formidable challenges
b. was an experiment putting a group of entrepreneurs on a ship and had them navigate it as a team to sail back to their home port
c. is focused on ocean-based training for entrepreneurs at sea (harnessing salt water, fishing as a renewable resource)
d. is focused on coming up with creative or unreasonable solutions to the world’s problems with the oceans (oil tankers leaking, whales beaching, etc.)
Ans: A
Learning Objective: 1.5. Illustrate the global diversity of entrepreneurship and its impact.
Cognitive Domain: Comprehension
Answer Location: Entrepreneurship as a Social Movement
Difficulty Level: Medium
AACSB Standard: Diverse and multicultural work environments
 
27. The global experiment, Unreasonable at Sea, ______.
a. asked each time the ship stopped at a new country,  “What is the one thing you want more than anything else in the world?” and one result was Pencils of Promise
b. tried to creatively solve the conflicts in the Middle East
c. asked for each challenge, “What is the worst thing that could happen as a result of this decision?”
d. lasted only 5 years but started the microloan movement in India
Ans: A
Learning Objective: 1.5. Illustrate the global diversity of entrepreneurship and its impact.
Cognitive Domain:  Comprehension
Answer Location: Entrepreneurship as a Social Movement
Difficulty Level: Medium
AACSB Standard: Diverse and multicultural work environments
 
28. Global Entrepreneurship Monitor (GEM) conducted a study and gathered its data according to ______.
a. the different regions of the world to compare and contrast the impact of culture on entrepreneurship
b. the age and sex of the participants to get their results to determine their impact on entrepreneurism
c. industry and the standard
d. different phases of entrepreneurship: potential entrepreneurs, nascent entrepreneurs, new business owners, and established business owners
Ans: D
Learning Objective: 1.5. Illustrate the global diversity of entrepreneurship and its impact.
Cognitive Domain: Comprehension
Answer Location: Global Entrepreneurship
Difficulty Level: Medium
AACSB Standard: Diverse and multicultural work environments
 
29. Individuals who have set up a business they will own or co-own, which is less than three months old, and has not yet generated wages or salaries for the owners are called ______.
a. potential entrepreneurs
b. failed business owners
c. new business owners
d. nascent entrepreneurs
Ans: D
Learning Objective: 1.5. Illustrate the global diversity of entrepreneurship and its impact.
Cognitive Domain: comprehension
Answer Location: Global Entrepreneurship
Difficulty Level: Medium
AACSB Standard: Diverse and multicultural work environments
 
 
30. Global Entrepreneurship Monitor (GEM) looks at two groups of entrepreneurs:  opportunity-based entrepreneurs and ______.
a. those currently employed but looking at developing their own business
b. necessity-based entrepreneurs who are pushed into starting a business because of a circumstance
c. those with the savings to start a franchise business
d. need-based individuals who need to succeed
Ans: b
Learning Objective: 1.5. Illustrate the global diversity of entrepreneurship and its impact.
Cognitive Domain: Comprehension
Answer Location: Global Entrepreneurship
Difficulty Level: Medium
AACSB Standard: Diverse and multicultural work environments
 
31. Global Entrepreneurship Monitor focuses its study on the level of total entrepreneurial activity (TEA) in different countries, ______.
a. identifying the percentage of the population of each country between 18 and 64 who are either nascent entrepreneurs or owner-managers of a new business
b. quantifying the number of hours a month entrepreneurs work in their business
c. measuring the opportunities available per country
d. measuring the financial impact of cultural differences between the countries