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Mixed Quiz
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1

Newness of a new entry is sometimes a disadvantage.
A)True
B)False
2

Financial backing is the basis of the entrepreneurial resource.
A)True
B)False
3

First movers can monitor changes in the market that might be difficult or impossible to detect for those firms not participating in the market.
A)True
B)False
4

Customers are adverse to uncertainty.
A)True
B)False
5

A constant negative effect on industry growth is competition.
A)True
B)False
6

The set of decisions, actions, and reactions that first generate, and then exploit over time, a new entry is:
A)entrepreneurial financing.
B)bootstrapping.
C)entrepreneurial strategy.
D)informal organization.
7

Which of the following statements is true?
A)Knowledge is a valuable entrepreneurial resource that is typically learned in a classroom.
B)Experience is idiosyncratic-unique to the life of the individual.
C)Knowledge based on experience is likely to be learned in a classroom.
D)All of the above are true.
8

An entrepreneur who pursues a new entry opportunity only to find out that he or she had overestimated his or her ability to create customer demand is:
A)in error of commission.
B)in technological error.
C)in error of omission.
D)none of the above.
9

First movers:
A)are able to gain from moving down the experience curve.
B)are better positioned to satisfy customers.
C)face less competition than late movers.
D)all of the above.
10

Changes needed to adapt to environmental changes:
A)are easier in established organizations because of inertia.
B)can be avoided by late entry.
C)are more difficult because of the entrepreneur's tendency to escalate commitment.
D)don't affect smaller organizations.





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