The questions are in a form of a short essay. Be precise with your explanation and enrich your discussion with examples, even where these are not specifically asked for.

Any content you use from external source materials should be cited. Full academic referencing is not required.

Word count per question is 800 words.

1.

a) Discuss the theory of entrepreneurship by Knight and contrast it with other theories of entrepreneurship.

b) Explain how exogenous shocks can increase entrepreneurial uncertainty. Give examples and critically discuss your answers.

2.

a) What difficulties do new start-ups face in raising equity finance during times of crisis?

b) Critically discuss how this might differ in the case of start-ups and established firms.

3. Can entrepreneurs make use of game theory? Critically discuss your answer and give examples to support your arguments.

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