COLLEGE LEVEL: Respond to each Question in detail. Your Overall response should have a combined total not more than 1000 words for the entire exams. a) Briefly describe the evolution of the term entrepreneurship.

b) What are the 10 myths associated with entrepreneurship? Debunk each.

a) What is the micro view of entrepreneurship

What are the schools of thought that use the micro view of entrepreneurship?

a) Entrepreneurship has a “dark side.” What is meant by this statement? State and explain them. Be complete in your answer.

b) Entrepreneurship has a “dark side.” What is meant by this statement? Be complete in your answer.

a) What is Social Entrepreneurship?

b) How do the following organizations impact international entrepreneurship:
NAFTA:

WTO:

EU:

a) How does Social Entrepreneurship help the society. Give examples?
b) What is OPEC and Give examples

a) What are the major sources of innovative ideas? Explain and give an example of each

What are four major types of innovation?

Describe each of the five critical factors involved in the prestart-up and start-up phases of a new venture.

List four major types of problems that new ventures confront.

Define the following Terms:
Franchise
Franchisee
Franchisor

Zachary company produces commercial gardening equipment. since production is highly automated, the company allocates its overhead costs to product lines using activity-based costing. the costs and cost drivers associated with the four overhead activity cost pools follow: activities unit level batch level product level facility level cost $ 64,800 $ 27,730 $ 15,000 $ 154,000 cost driver 2,400 labor hrs. 47 setups percentage of use 11,000 units production of 780 sets of cutting shears, one of the company’s 20 products, took 240 labor hours and 7 setups and consumed 15 percent of the product-sustaining activities. required: (a) had the company used labor hours as a company wide allocation base, how much overhead would it have allocated to the cutting shears? (b) how much overhead is allocated to the cutting shears using activity-based costing? (c) compute the overhead cost per unit for cutting shears first using activity-based costing and then using direct labor hours for allocation if 780 units are produced. if direct product costs are $150 and the product is priced at 30 percent above cost for what price would the product sell under each allocation system? (d) assuming that activity-based costing provides a more accurate estimate of cost, indicate whether the cutting shears would be over- or underpriced if direct labor hours are used as an allocation base. explain how over-or undercosting can affect vaulker's profitability. (e) comment on the validity of using the allocated facility-level cost in the pricing decision. should other costs be considered in a cost- plus pricing decision? if so, which ones? what costs would you include if you were trying to decide whether to accept a special order?

Afirm is producing at minimum average total cost with its current plant. draw the firm's long-run average cost curve. label it. draw a point on the lrac curve at which the firm cannot lower its average total cost. draw the firm's short-run average total cost curve that is consistent with the point you have drawn. label it.g

After hearing a knock at your front door, you are surprised to see the prize patrol from a large, well-known magazine subscription company. it has arrived with the good news that you are the big winner, having won $21 million. you have three options.(a) receive $1.05 million per year for the next 20 years.(b) have $8.25 million today.(c) have $2.25 million today and receive $750,000 for each of the next 20 years.your financial adviser tells you that it is reasonable to expect to earn 13 percent on investments.