QUESTION $1$The main forms of non$-$equity methods are foreign direct investment, joint venture, and merger and acquisitiona. Falseb. True QUESTION $2$The following are the approaches of business new venture creation:a$.$ User$-$based, tart$-$up$,$ transcendent$-$based, manufacturing$-$based and product$-$basedb. Transcendent, cognitive, institutional and decision making perspectivesc. Cognitive, institutional, decision making, user$-$based, tart$-$up$,$ transcendent$-$based, manufacturing$-$based and product$-$basedd. Cognitive, institutional and decision making perspectives QUESTION $3$Entrepreneurial spirit is a mindset that embraces critical questioning, innovation, service and continuous improvementQuestion $3$Answera. Falseb. True QUESTION $4$Perception towards entrepreneurial career in the community, medias exposure of entrepreneurs, and social status of being entrepreneurs are not the only dimensions of the entrepreneurial spirita. Trueb. False QUESTION $5$The following specific functions are involved in the entrepreneurial activity except:a$.$ Supervising the execution of the production plan and making sure that it is carried out in an economical wayb. Collection of information regarding social situationsc. Economic calculations in order to make the production process efficientd. Assigning goods to a particular production process QUESTION $6$The Openness to Experience $($O$),$ Conscientiousness $($C$)($the quality of wishing to do one's work or duty well and thoroughly$),$ Extraversion $($E$)($experience positive emotions and traits$),$ Agreeableness $($A$)$ and Neuroticism $($N$)($emotional stability$)$ areQuestion $6$ Answera. distinguish the successful entrepreneur from the unsuccessful oneb. trigger a creative spark that encourages entrepreneurial behaviorsc. predict individuals intention to become an entrepreneur in the futured. different personality traits which make the individuals behave differently in relation to social entrepreneurial intention QUESTION $7$Products whose newness is based on improvements of various aspects such as colour, size, composition, and form of existing products fall under: a$.$ Breakthrough Innovationsb. Product innovationc. Subject $($Object$)$ of Changed. Incremental Innovations QUESTION $8$Studying the origins, culture, beliefs and customs of a community in relation to entrepreneurship is drawn from: a$.$ Sociological Theories of Entrepreneurshipb. EE Hagens Theory of Social Changec. Max Webers Theory of Social Changed. Anthropological Theories of Entrepreneurshipe.QUESTION $9$Anthropology Sociological Theories of Entrepreneurship studies the origins, culture, beliefs and customs of a community i$.$e$.$ the culture of the people in the communitya. Trueb. False QUESTION $10$Entrepreneurs identify opportunities, assemble required resources, implement a practical action plan, and harvest the reward in a timely, flexible way falls under:a$.$ Both of the aboveb. Classical Economic Theories of Entrepreneurshipc. Neo$-$classical Economic Theories of Entrepreneurshipd. Austrian Market Processes Theories of EntrepreneurshipQUESTION $11\_\_\_\_\_\_$principally focus on qualities of free trade, competition and specialization; and consider the entrepreneur as a risk taker who deliberately allocates resources to exploit opportunities to maximize the financial return a$.$ Classical Economic Theories of Entrepreneurshipb. Neo$-$classical Economic Theories of Entrepreneurshipc. Both Classical, Neo$-$classical and Marshallian theories of Entrepreneurshipd. Marshallian theories of EntrepreneurshipQUESTION $12$In external LoC, entrepreneurs believe that, outcomes are inside of their control and it completely depends on external factors such as fate, change, etc.a$.$ Trueb. False QUESTION $13$The relationship between entrepreneurship and small business can logically be attended by considering similarities between the two, differences between the two and role of entrepreneurship on small businessesa. Falseb. True QUESTION $14$According to Goal Orientation which is one of the three factors which compose entrepreneurial attitudes, entrepreneurial activities are divided into three phases such as:a$.$ Social Value, personal attributes and income generation activitiesb. Social value, nascent $($startups$),$ and income generation activitiesc. nascent $($startups$),$ new, and established entrepreneurial activitiesd. nascent $($startups$),$ new and personal attributes activities QUESTION $15$From a political perspective, entrepreneurial opportunities generally refer to situations that hold the potential for new economic value $($Alvarez & Barney $2007,$ Kirzner $1997,$ Schumpeter $1934)$a$.$ Falseb. True QUESTION $16$A form of innovation that requires communication, leadership, teamwork, decision$-$making, and situation$-$awareness to achieveQuestion $16$Answera. Non$-$technical innovationb. Marketing innovationc. Technical innovationd. Process innovation QUESTION $17\_\_\_\_\_$controls the entrepreneurs actions and makes an entrepreneur to work in a certain way for better decision$-$makinga. Neuroticismb. Need for Achievementc. Activity Regulationd. Locus of Control QUESTION $18$Innovation in entrepreneurship is:Question $18$Answera. It builds on an invention, but innovation and inventions are the same thingb. creating, developing and implementing new ideas, methods, processes, products or other new concepts that lead to significant positive changec. identifies met needs or challenges by thinking creatively and departing from established practices.d$.$ introduction of something similar, something involving a novelty and a new idea, new product, new process, method or device QUESTION $19$The Macro view is likewise broken down into political, cultural and economic displacementQuestion $19$Answera. Trueb. False QUESTION $20$According to Entrepreneurial Decision$-$making Approach$/$Strategy$,$ decision$-$making process used by the entrepreneurs is influenced by except:a$.$ organizational contextb. individual characteristicsc. Enterprise modeld. environmental factors QUESTION $21$The following are types of innovation based on the kind of information:a$.$ Incremental innovations and radical$/$breakthrough innovationsb. Technical Innovation and non$-$technical Innovationc. Product innovation and process innovationd. Organization innovation, marketing innovation QUESTION $22$Anthropology Theories of Entrepreneurship study of how people, groups, and organizations come apart to identify and seize opportunities to start new businesses or venturesa. Falseb. True QUESTION $23$Managing risks and challenges is one of the roles of entrepreneurship in creation of new business ventures which capture the following except: a$.$ anticipate and navigate risks such as market fluctuations and regulatory hurdles to overcome impact and contribute to the entrepreneurial ecosystemb. anticipate and navigate risks such as skills infancy and periodical marketing penetration to overcome impact and contribute to the entrepreneurial ecosystemc. anticipate and navigate risks such as effective risk management strategies to overcome impact and contribute to the entrepreneurial ecosystemd. anticipate and navigate risks such as use flexibility and resilience to overcome impact and contribute to the entrepreneurial ecosystem QUESTION $24$Entrepreneurial traits are incorporated by individuals through leaning $($Bhattacharjee & Chetty, $2019)$a$.$ Trueb. False QUESTION $25$Use new technology to produce a new product is one of the methods of finding a new business opportunityQuestion $25$Answera. Trueb. False QUESTION $26$The notion of new venture creation is primarily explained through the following different perspectives except:Question $26$Answera. Cognitive Perspectiveb. Transcendent$-$based Perspectivec. Decision Making Perspectived. Institutional Perspective QUESTION $27$Innovation goes beyond the act of invention by applying new or improved ideas, processes or products in ways that impact society or marketsa. Trueb. False QUESTION $28$According to institutional perspective, $\_\_\_\_\_\_$involves three stages: identification, assessment and exploitationa. Venture creation processb. Innovation and inventionc. Model of opportunityd. New venture creation QUESTION $29$ART explains how individuals control others cognitive behavior with the help of cognitive processes which consist of selection and development, orientation, monitoring and planning and processing feedbacka. Falseb. True QUESTION $30$The following theory is the integration of cognitive, behaviorism and social science orientated conceptionsQuestion $30$Answera. Entrepreneurial Personality Systemb. McCrae and Costas Big Five Traits theoryc. Activity Regulation Theory $($ART$)$d$.$ Hagens Theory of Entrepreneurship QUESTION $31$Individuals with the NfA are more likely to become entrepreneurs and other factors $($money or other benefits or profits$)$ are core motivators for their achievementQuestion $31$Answera. Trueb. False QUESTION $32$McCrae and Costas Big Five Traits approach, Entrepreneurial Personality System and Hagens Theory of Entrepreneurship are ones of the Psychological theories of EntrepreneurshipQuestion $32$Answera. Trueb. False QUESTION $33\_\_\_\_\_\_\_\_$emphasized the willingness of the entrepreneur to assume the risk and to deal with uncertainty Question $33$Answera. Neo$-$classical Economic Theories of Entrepreneurshipb. Marshallian theoryc. Classical Economic Theories of Entrepreneurshipd. Austrian Market Processes Theories of Entrepreneurship QUESTION $34$Selection of the international business entry mode fundamentally depends on the benefits, costs and required resourcesQuestion $34$Answera. Falseb. True QUESTION $35$The equity Methods often involves patents, designs, trade secrets$,$ trademarks and copyrights hence making up the majority of the international transactionsQuestion $35$Answera. Trueb. False QUESTION $36$The following are theorists who elucidate concepts of entrepreneurship from psychological perspective:Question $36$Answera. Julian Rotter $(1954),$ David McLelland $(1967),$ Jean Baptiste Say $(1803)$b$.$ Everett E$.$ Hagen, $1963,$ McCrae & Costa, $1987,$ Winfried Hacker $(1980$s$)$c$.$ Everett E$.$ Hagen, $1963,$ McCrae & Costa, $1987,$ Joseph Alois Schumpeter $(1883-1950)$d$.$ Alfred Marshal $(1949),$ Julian Rotter $(1954),$ David McLelland $(1967)$