Q1. Explain the role culture may play in influencing entrepreneurship both at the individual and social level. Define culture in your response.
Q2. Present the case of the importance of institutions in the type and level of entrepreneurship. In your response refer to the works of William Baumol, Peter Blair Henry and Conrad Miller, and Mancur Olson. Define institutions.
Q3. Some scholars say that psychological factors may play a huge role in the reasons why some of us are entrepreneurs, while other scholars seem to disagree (e.g. Scott Shane in The Illusions of Entrepreneurship). Explain.
Q4. Explain the structure of a typical venture capital partnership and how it usually proceeds to invest funds into new companies.
Q5. Robber Barons have often been seen as quasi monopolists who built up huge fortunes on the back of consumers. Do you think the examples of Vanderbilt, Rockefeller, and Hill tend to prove this interpretation of 19th century American capitalism? Can Kirzner's theory help us here? Explain why.