When did the Neoclassical School of Entrepreneurship emerge?, 15th–16th centuries, Late 19th – early 20th centuries, 21st century, Middle Ages, What was the main goal of neoclassical economists?, Make economics more emotional, Create political theories, Make economics more scientific and mathematical, Replace classical economics, Which classical economists are mentioned as predecessors?, Karl Marx and Max Weber, Adam Smith and Jean-Baptiste Say, Hayek and Mises, Keynes and Friedman, What do neoclassical economists mainly study?, Religion and culture, Military strategy, Supply, demand, costs, and equilibrium, Psychology of consumers, Who is considered the founder of modern microeconomics?, Frank Knight, Peter Drucker, Von Thünen, Alfred Marshall, According to Marshall, what does the entrepreneur combine?, Technology and social influence, Land, labor, and capital, Religion and politics, Risk and uncertainty, What is “marginal utility”?, Small, incremental changes affecting decisions, Cost of transportation, Total value of production, Emotional motivation of consumers, What is at the center of von Thünen’s location model?, Ocean, The city/market, Factory, Farmland, Which goods are produced closest to the city in von Thünen’s model?, Heavy machinery, Durable goods like grain, Fresh products like milk, Cars and electronics, What was Frank Knight’s major contribution?, Theory of innovation, Risk vs uncertainty distinction, Socialist economic planning, Marginal utility, According to Knight, profit is a reward for…, Emotional intelligence, Government support, Low wages, Taking true uncertainty, What was Peter Drucker’s main belief?, Business should avoid innovation, Entrepreneurship is only about money, Innovation is the core of entrepreneurship, Markets never change, What motivates entrepreneurs in the neoclassical model?, Fear, Profit, Political pressure, Personal hobbies, What is the main assumption of the Neoclassical School?, Entrepreneurs always act emotionally, Decisions are made randomly, Entrepreneurs act rationally, Markets never reach balance, What is a common criticism of the Neoclassical School?, Too many emotions in the theory, It ignores social and psychological factors, It focuses only on religion, It does not use any math.

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