Understanding Entrepreneurship: A Quiz for Aspiring Entrepreneurs Quiz - Test Your Knowledge

Jake Simmons, Jr. was the most successful African-American entrepreneur in the history of the petroleum industry.

Joseph McCoy was a 19th century cattle baron who is often cited as the inspiration for the phrase "The Real McCoy" because he made good on his pledge to Texas ranchers to get them a good price for their Longhorn cattle if they drove them from Texas to Kansas on the Chisholm Trail.

after his son was murdered during a study abroad program, entrepreneur Tom Petters formed a foundation to provide endowments that would benefit future students at several universities.

an Australian violist Richard Goldner founded Musica Viva Australia in 1945, the world's largest entrepreneurial chamber music organization.

Inderjit Singh, member of the Parliament of Singapore, started six businesses.

B.P. Newman, a business entrepreneur from Laredo, began operations with a dairy distributorship but branched into restaurants, subdivisions, apartments, and ranches throughout much of Texas.

Italian-Swiss entrepreneur Carlo Gatti pioneered the sale of ice cream to the general public in London from 1849, and later ran several music halls.

venture capitalists committed US$25,000 to the Next Big Sound after a group of Northwestern University students presented it as their entrepreneur class assignment.

Very Light Jet entrepreneur Jim McCotter founded a religious movement.

entrepreneur Joe Dudley's multi-million dollar hair and skin care business began with a mere US$10 investment in a sales kit in 1957.

Understanding Entrepreneurship: A Quiz for Aspiring Entrepreneurs

1 [note 1] The term is originally a loanword from French and was first defined by the Irish ________ Richard Cantillon.

2 Observers see them as being willing to accept a high level of personal, professional or financial ________ to pursue opportunity.

3 Scholar Robert B. Reich considers leadership, management ability, and ________ as essential qualities of an entrepreneur.

4 An entrepreneur is a person who has possession of a new enterprise, venture or ________ and assumes significant accountability for the inherent risks and the outcome.

5 Some distinguish business entrepreneurs as either "political entrepreneurs" or "market entrepreneurs," while ________' principal objectives include the creation of a net social benefit.

6 ________ is often difficult and tricky, resulting in many new ventures failing.

7 ________, a French economist is believed to have coined the word "entrepreneur" first in about 1800.

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