#1
Which of the following best defines entrepreneurship?
Investing in stocks and bonds
Starting and managing a business venture
Working as an employee in a corporation
Saving money in a bank account
#2
What is a common characteristic of successful entrepreneurs?
Fear of failure
Risk-taking
Avoidance of innovation
Reluctance to adapt
#3
What is the term used to describe the process of turning an idea into a viable business?
Market research
Innovation
Entrepreneurship
Product development
#4
Which of the following is a characteristic of a monopoly?
Many sellers
Perfect competition
Single seller
Identical products
#5
What is the term for the process of bringing together the necessary resources to start a business?
Resource allocation
Bootstrapping
Venture capital
Crowdfunding
#6
Which of the following is a key characteristic of a market economy?
Centralized planning by the government
Private ownership of resources
Equal distribution of wealth
Limited competition among businesses
#7
Which of the following is NOT a factor affecting entrepreneurial success?
Access to capital
Market demand
Government regulations
Socioeconomic status
#8
What is the primary goal of economic development?
Maximizing government revenue
Achieving sustainable economic growth
Minimizing consumer spending
Increasing inflation rates
#9
In the context of economic development, what does GDP stand for?
Gross Development Plan
Gross Domestic Product
General Development Policy
Growth and Development Potential
#10
Which of the following is NOT a characteristic of a developed economy?
High standard of living
Low unemployment rates
High levels of income inequality
Advanced infrastructure
#11
What is the term used to describe the total value of goods and services produced within a country's borders in a specific time period?
Gross National Product (GNP)
Net National Product (NNP)
Gross Domestic Product (GDP)
Net Domestic Product (NDP)
#12
Which of the following is NOT a factor influencing entrepreneurial motivation?
Financial rewards
Personal fulfillment
Risk aversion
Desire for independence
#13
Which economic theory suggests that entrepreneurship is the driving force behind economic development?
Keynesian economics
Classical economics
Neoclassical economics
Schumpeterian economics
#14
According to the theory of comparative advantage, what should countries specialize in?
Producing goods with the highest profit margin
Producing goods they can produce most efficiently
Producing goods with the lowest demand
Producing goods with the highest demand
#15
In the context of economic development, what does FDI stand for?
Foreign Direct Investment
Free Development Index
Financial Development Indicator
Foreign Dependency Index
#16
According to Maslow's hierarchy of needs, which level must be satisfied before an individual seeks self-actualization?
Physiological needs
Safety needs
Belongingness and love needs
Esteem needs
#17
What term describes a situation where there are many buyers and sellers, none of whom can influence the price of the product?
Monopoly
Oligopoly
Monopolistic competition
Perfect competition