EXERCISE CHAPTER 1

PART A (TRUE/FALSE)
1. An entrepreneur is described as a person who acts as agent in transforming demand into supply.
2. According to the theory of Islamic Entrepreneurship, success in Islam is measured by the end
result and not by the means and ways of achieving the success.
3. David McClelland sees the entrepreneur is a person with a high need for achievement.
4. One of the examples of a good Muslim entrepreneurs behavior during the time of Prophet
Muhammad SAW is to practice moderate way of life.
5. The statement, an entrepreneur is an individual who actively forms or leads his own business
and nurtures it for growth and prosperity, refers to the functional definition of an entrepreneur.
6. Entrepreneurship is concerned with the process of new venture creation
7. According to Alfred Marshall, the process of entrepreneurship is incremental or evolutionary.
8. Entrepreneurs are born and cannott be train.
9. Entrepreneurship involves the process of starting a business but not the process of diversifying a
business.
10. Success in Islam is not merely measured by the result, but also the means and ways of achieving
them.
11. Schumpeter described the entrepreneur as a person with a high need for achievement.
12. According to Carl Menger, an entrepreneur is an agent who transforms resources into products
and services and subsequently adds value to them.
13. Entrepreneur is a knowledgeable individual and is important in the development of city state
where enterprise will emerge. The concept of entrepreneurship is promoted by Ibnu Khaldun.
PART B (MCQ)
1. Which of the following are associated with the concept of entrepeneurship?
I.
Identification and exploitation of opportunities
II.
Management of human resources
III.
The ceation of new firm
IV.
Choice of a distribution system
A.
I and II
B.
II and III
C.
I and III
D.
II and IV
E.
I and V

PART C (SHORT ESSAY)

1. Define the following terms:
a. Entrepreneurship
________________________________________________________________________
________________________________________________________________________
b. Intrapreneurship
________________________________________________________________________
________________________________________________________________________
c. Technopreneurship
________________________________________________________________________
________________________________________________________________________
2. Explain in your own words the concept of creative destruction. Give local examples.
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
3. Eloborate in your own the different between entreprenur and entrepreneurship.
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________