Page 62 - THE CARIBBEAN ADVANCED PROFICIENCY EXAMINATIONS

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1. Which of the following BEST describes 5. Entrepreneurship involves the
an entrepreneur? management of

(A) Has a strong desire to achieve and (A) processes, people and growth
is innovative (B) global economies, people and
(B) Recognizes opportunities but growth
sacrifices them (C) global economies, processes and
(C) Has the urge to keep a product in growth
the existing market (D) people, processes and regional
(D) Has a strong desire for money but economies
does not go after it

6. Which of the following is a driving force
2. Which of the following statements is behind contemporary entrepreneurship?
NOT a myth associated with
entrepreneurs? (A) Globalization
(B) Demographic stability
(A) Entrepreneurs are bold. (C) Stagnation in innovation
(B) All entrepreneurs are rich. (D) Decreasing consumption
(C) Entrepreneurs generate ideas.
(D) Entrepreneurs are born, not made.
7. Which of the following does NOT
encourage entrepreneurship?
3. “Creative destruction is the process
whereby products, processes, ideas and (A) Information revolution
businesses are replaced with better ones.” (B) Changing demographics
(C) Technological advances
Which of the following theorists made (D) Government bureaucracy
this proposition?

(A) Peter Drucker 8. Which of the following is a KEY
(B) Jean Baptiste Say characteristic for a successful
(C) Richard Cantillon entrepreneur?
(D) Joseph Schumpeter
(A) Ability to work hard
(B) Technical skills
4. Which of the following is central to the (C) Access to personal money
concept of entrepreneurship? (D) Eye for an opportunity

(A) Financing
(B) Stabilization
(C) Manufacturing
(D) Innovation

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02124010/SPEC 2013