Directions: True or False: Write True if the statement is correct, otherwise write False. 1. Theories express absolute truths about events or phenomena. 2. In sociological theory, Weber emphasizes that the social cultures are the primarily elements of entrepreneurship. 3. The innovation theory of entrepreneurship suggests that the economic equilibrium must be creatively destroyed in order to have an economic development. 4. The development of Keynesian theory of entrepreneurship was highly influenced by the economic boom. 5. The Keynesian theory of entrepreneurship generalizes that the government plays a major role in the economic growth especially when the entrepreneurs are reluctant to invest more funds. 6. The entrepreneurship theory of Alfred Marshall suggest that the active participation of the entrepreneur in the organization will affect the economy negatively. 7. Frank Knight added creativity another factor in the production of goods and services. 8. Based on the risk-uncertainty bearing theory, the entrepreneur is expected to receive higher profit as a reward for the highest risk taken. 9. According to the technological theory, economic growth is expected to be slow unless the entrepreneurs apply modern technology in their business undertakings. 10. The learnings-alertness theory says that the alertness of the entrepreneurs to the changes in the external environment will significantly influence the development of the economy.
