Entrepreneurship & the Economy: Definition & Importance


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What's the best explanation of entrepreneurship?

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1. Which of the following factors of production is most relevant to entrepreneurship?

2. Which type of entrepreneur is focused on getting a new business off the ground and then moving on to start a new one?

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About This Quiz & Worksheet

Make sure you understand the basics of entrepreneurship and types of entrepreneurs found in the economy with this multiple-choice quiz and worksheet combo.

Quiz & Worksheet Goals

You can expect to be tested on:

  • The definition of entrepreneurship
  • Factor(s) of production related to entrepreneurship
  • Entrepreneur types

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on the role of entrepreneurship in the economy
  • Making connections - use understanding of the concept of entrepreneurship to identify the most relevant factor(s) of production
  • Information recall - access the knowledge you've gained regarding the definition of entrepreneurship
  • Knowledge application - use your knowledge to answer questions about types of entrepreneurs

Additional Learning

Check out the lesson, Entrepreneurship & the Economy: Definition & Importance, to learn more about economics. It will address such objectives as:

  • Define skunk works
  • List at least five types of entrepreneurs and give an example of each
  • Know the significance of entrepreneurs to the economy