No Free Lunch: Economics for a Fallen World: Third Edition, Revised

Chapter Nine: P31W: Enter the Entrepreneur! 221 CHAPTER NINE: QUESTIONS FOR REVIEW 1. This chapter introduced the entrepreneur as operating in “real” time. Explain what is meant by “real” time. Hint: think about what can change during “real” time. 2. Evaluate the following statement: Since God in his sovereignty is providentially directing all our steps, Christians should be better entrepreneurs than others. Is this true? Why or why not? Hint: address how Christian faith would help or hinder the functions of entrepreneurship and entrepreneurial attributes. 3. Describe why problem solving is the principle task of entrepreneurship. Given that, evaluate why Christians should be good entrepreneurs. 4. We identified creative destruction as one function of entrepreneurship. We all like the creative part, but the destruction part can be tough. Especially for those employed in the destroyed business. How should Christians assess creative destruction? What would be appropriate ways to minimize the pain of the “destruction” while enjoying the benefits of the “creation?” 5. Describe how entrepreneurship expands a country’s PPF. What does that suggest about government incentives to entrepreneurs? 6. List and explain at least four attributes for entrepreneurship. 7. Why is all action, in a sense, speculative? 8. Identify both a scriptural and secular example for each function of entrepreneurship with a short description of what the person did.