{"id":5111,"date":"2023-02-22T21:06:29","date_gmt":"2023-02-22T21:06:29","guid":{"rendered":"https:\/\/course.oeru.org\/ient101\/?page_id=5111"},"modified":"2023-02-22T21:06:29","modified_gmt":"2023-02-22T21:06:29","slug":"quiz","status":"publish","type":"page","link":"https:\/\/course.oeru.org\/ient101\/learning-pathways\/the-nature-of-entrepreneurship\/quiz\/","title":{"rendered":"Quiz"},"content":{"rendered":"<div id=\"content\" class=\"mw-body container\" role=\"main\">\n<div class=\"row\">\n<div class=\"col-md-12\">\n<div class=\"panel\">\n<div class=\"panel-body\">\n<div id=\"bodyContent\">\n<div id=\"mw-content-text\" lang=\"en\" dir=\"ltr\" class=\"mw-content-ltr\">\n<p>\n<\/p>\n<div class=\"floatright\"><a href=\"https:\/\/wikieducator.org\/File:Test_sign.jpg\" class=\"image\"><img loading=\"lazy\" decoding=\"async\" alt=\"Test sign.jpg\" src=\"\/\/wikieducator.org\/images\/thumb\/e\/eb\/Test_sign.jpg\/320px-Test_sign.jpg\" width=\"320\" height=\"226\" class=\"img-responsive\"><\/a><\/div>\n<p>The questions which follow provide a basic knowledge test of selected concepts covered in this learning pathway: <i>The nature of entrepreneurship<\/i>.<\/p>\n<p>The questions published at the end of each learning pathway are re-used for the knowledge test for learners interested in earning a digital badge or certificate of participation for the <i>Introduction to entrepreneurship<\/i> (IENT101) micro-course. Please consult the <a href=\"https:\/\/wikieducator.org\/Introduction_to_entrepreneurship\/IENT101\/Assessment\/Certify_participation\" title=\"Introduction to entrepreneurship\/IENT101\/Assessment\/Certify participation\">Certify participation page<\/a> for more information.<br style=\"clear:both;\">\n<\/p>\n<div class=\"panel iDevice WEquizMultipleChoice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"assessment\" src=\"https:\/\/course.oeru.org\/ient101\/wp-content\/themes\/oeru_course\/idevices\/Icon_qmark.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>True - false questions<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t\n<p>Indicate whether the following statements are true or false:\n<\/p>\n<ul>\n<li>An entrepreneur is employed by others to manage their company.\n<ul>\n<li>True\n<ul>\n<li>Wrong. Try again.\n<\/li>\n<\/ul>\n<\/li>\n<li>False\n<ul>\n<li>You\u2019re right! Well done.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>An entrepreneur\u2019s role is risk-free.\n<ul>\n<li>True\n<ul>\n<li>No, think about the nature of what it is to be an entrepreneur.\n<\/li>\n<\/ul>\n<\/li>\n<li>False\n<ul>\n<li>Correct.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Entrepreneurs are typically creative and innovative.\n<ul>\n<li>True\n<ul>\n<li>Yes, that\u2019s right. Well done.\n<\/li>\n<\/ul>\n<\/li>\n<li>False\n<ul>\n<li>Sorry, try again.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Learning-by-doing is essential for entrepreneurs.\n<ul>\n<li>True\n<ul>\n<li>Correct. Learning-by-doing can be extremely helpful for many roles, not just for entrepreneurs.\n<\/li>\n<\/ul>\n<\/li>\n<li>False\n<ul>\n<li>Incorrect. Try again.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div><\/p>\n<p>\n<\/p>\n<div class=\"panel iDevice WEquizMultipleChoice WEquizMix\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"assessment\" src=\"https:\/\/course.oeru.org\/ient101\/wp-content\/themes\/oeru_course\/idevices\/Icon_qmark.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Multiple choice questions<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t\n<ul>\n<li>In the context of THIS IENT101 micro-course, the term \u2018risk\u2019 refers to:\n<ul>\n<li>A hazard identified in an insurance policy\n<ul>\n<li>In the context of this online course on entrepreneurship, we do not cover insurance (personal or business). However, a risk can be a person or thing that is a specific hazard identified by an insurer &#8211; this is just not what we are referring to in the IENT101 course.\n<\/li>\n<\/ul>\n<\/li>\n<li>A business training opportunity\n<ul>\n<li>No. There is a famous strategic board game called \u2018Risk\u2019, but it doesn\u2019t help entrepreneurs!\n<\/li>\n<\/ul>\n<\/li>\n<li>The likelihood that something bad will happen in the business\n<ul>\n<li>Yes, in the context of the IENT101 course, \u2018risk\u2019 refers to the likelihood that something bad will happen, and the potential impact if it does.\n<\/li>\n<\/ul>\n<\/li>\n<li>An action that intentionally places a person or thing in a dangerous situation\n<ul>\n<li>This is one possible meaning of risk, but it falls outside of the context of the IENT101 course.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Which of the following statements best describes \u2018Competitive Advantage&#8217;?\n<ul>\n<li>A competitive advantage is what makes a company\u2019s product(s) and or service(s) superior to a customer\u2019s other choices (e.g by offering a lower price and\/or greater benefits)\n<ul>\n<li>Yes, this is the best description of \u2018competitive advantage\u2019 from the options listed.\n<\/li>\n<\/ul>\n<\/li>\n<li>A competitive advantage is created by customer loyalty\n<ul>\n<li>No, a competitive advantage may result in customer loyalty, but loyalty in itself does not create an advantage.\n<\/li>\n<\/ul>\n<\/li>\n<li>Competitive advantage is generated by working closely with your business competitors on innovation\n<ul>\n<li>Typically no. It may be the information you have which your competitors don\u2019t have that leads to a competitive advantage (as long as it is legal!).\n<\/li>\n<\/ul>\n<\/li>\n<li>A competitive advantage is created when a company fails, thereby giving its competitors more market share\n<ul>\n<li>A business competitor may be happy to see a company fail, but this is not a description of a \u2018competitive advantage\u2019.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>\u2018Crowdsourcing\u2019 is:\n<ul>\n<li>Obtaining money from a large group of individuals to fund a business idea\n<ul>\n<li>This is crowdfunding, rather than crowdsourcing.\n<\/li>\n<\/ul>\n<\/li>\n<li>A social media project in which businesses collaborate with one another to raise awareness of social issues\n<ul>\n<li>This can happen, but is not an example of crowdsourcing.\n<\/li>\n<\/ul>\n<\/li>\n<li>A model in which individuals or businesses obtain work, information, or problem-solving skills from a large number of internet users\n<ul>\n<li>Yes, crowdsourcing uses the skills and knowledge of a large (usually rapidly-evolving) group of individuals via the internet, in order to achieve a common goal.\n<\/li>\n<\/ul>\n<\/li>\n<li>An economic system in which the general public has shared ownership of businesses\n<ul>\n<li>This is not linked to crowdsourcing. If you\u2019re interested in economic systems, you can learn more about these in the IENT103 micro-course.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Indicate which ONE of the following statements about innovation is FALSE:\n<ul>\n<li>Innovation has occurred throughout history\n<ul>\n<li>This statement is true.\n<\/li>\n<\/ul>\n<\/li>\n<li>Innovation may result in changes in efficiency, quality, competitiveness, and performance\n<ul>\n<li>This statement is true, particularly when we are thinking about innovation in an organisational context.\n<\/li>\n<\/ul>\n<\/li>\n<li>Innovation is always focused on new products or services\n<ul>\n<li> This statement is false. Innovation can be about generating new ideas for products and\/or services, but it can also be about improving processes; anything new that adds value or improves something in an economic and\/or social context could be considered innovative.\n<\/li>\n<\/ul>\n<\/li>\n<li>Innovation can be associated with invention, but the two words do not mean the same thing\n<ul>\n<li> This statement is true. Invention is the creation of a brand new product or process, whereas innovation is more about implementing a creative idea to add value to something which already exists.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div><\/p>\n<p>\n<\/p>\n<p><!-- \nNewPP limit report\nCPU time usage: 0.057 seconds\nReal time usage: 0.063 seconds\nPreprocessor visited node count: 280\/1000000\nPreprocessor generated node count: 1206\/1000000\nPost\u2010expand include size: 32263\/2097152 bytes\nTemplate argument size: 22727\/2097152 bytes\nHighest expansion depth: 10\/40\nExpensive parser function count: 0\/100\n--><\/p>\n<p><!-- Saved in parser cache with key we_en-mw_:pcache:idhash:185302-0!*!0!*!*!2!* and timestamp 20230222021431 and revision id 1066138\n -->\n<\/div>\n<div class=\"visualClear\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-md-12\">\n<ul class=\"pager\">\n<li class=\"previous\">\n            <a href=\"\/ient101\/learning-pathways\/the-nature-of-entrepreneurship\/outputs-business-idea-challenge\">\u2190 Previous<\/a>\n          <\/li>\n<li class=\"next\">\n            <a href=\"\/ient101\/learning-pathways\/what-makes-a-successful-entrepreneur\/overview\">Next \u2192<\/a>\n          <\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<div id=\"wenote-ids\"><script type='text\/javascript' id='wenotes-ids'>\n    var WEnotesSite = \"https:\/\/wikieducator.org\";\n    var WEnotesPath = \"\/Introduction_to_entrepreneurship\/IENT101\/Nature\/Quiz\";\n    var WEnotesSiteID = \"0e3d258fbd36841f92259eefcd41d5e9\";\n    var WEnotesPathID = \"aef3c338443d7d3ae72ade7101cf7451\";\n    var WEnotesIDs = { site: \"https:\/\/wikieducator.org\", path: \"\/Introduction_to_entrepreneurship\/IENT101\/Nature\/Quiz\", site_id: \"0e3d258fbd36841f92259eefcd41d5e9\", path_id: \"aef3c338443d7d3ae72ade7101cf7451\" };\n<\/script><\/div>\n<\/div>\n<footer><\/footer>\n","protected":false},"excerpt":{"rendered":"<p>The questions which follow provide a basic knowledge test of selected concepts covered in this learning pathway: The nature of entrepreneurship. The questions published at the end of each learning pathway are re-used for the knowledge test for learners interested in earning a digital badge or certificate of participation for the Introduction to entrepreneurship (IENT101) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":5089,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-5111","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/comments?post=5111"}],"version-history":[{"count":1,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5111\/revisions"}],"predecessor-version":[{"id":5112,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5111\/revisions\/5112"}],"up":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/pages\/5089"}],"wp:attachment":[{"href":"https:\/\/course.oeru.org\/ient101\/wp-json\/wp\/v2\/media?parent=5111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}