EC 235 Entrepreneurship Finals Exam (Qns & Ans) 2026

EC 235 Entrepreneurship Finals Exam (Qns & Ans) 2026

1. Which of the following is NOT a primary characteristic of
an entrepreneurial mindset?
 - A) Risk tolerance
 - B) Innovativeness
 - C) Dependence on routine
 - D) Problem-solving ability
 ANS: C) Dependence on routine
 Rationale: Entrepreneurial individuals typically thrive on
change, innovation, and overcoming challenges rather than
adhering to routine.
2. What is the primary purpose of a minimum viable product
(MVP)?
 - A) To maximize profitability
 - B) To test a business idea with minimal resources
 - C) To create a fully developed product
 - D) To establish brand loyalty
 ANS: B) To test a business idea with minimal resources
 Rationale: An MVP is designed to validate assumptions
with the least amount of cost and effort.

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