Entrepreneurship MCQs with Answers

January 17, 2023 Entrepreneurship 845 Views

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Entrepreneurship MCQs with Answers

Questions 1 to 20

1. An individual who undertakes the creation, organization, and ownership of a business.

Opportunity

Entrepreneur

Venture

Elastic

Correct! Wrong!

2. An entrepreneur who introduces new goods technology and better combination of an enterprise is an--------------------- entrepreneur.

Fabian

Innovative

Drone

Cognitive

Correct! Wrong!

3. An entrepreneur who is a dynamic person and is interested in establishing a business enterprise is called --------------------- entrepreneur.

Technical

Trading

Professional

First generation

Correct! Wrong!

4. A person who owns , operate and takes risk of a business venture.

Manager

Employee

Entrepreneur

Entrepreneurship

Correct! Wrong!

5. The primary motivating force behind entrepreneur is.

Fame

Money

Achievement

Recognition

Correct! Wrong!

6. Who can become an entrepreneur?

Only a graduate

Only a rich man

People above 30 years

Anyone

Correct! Wrong!

7. People who work for someone else.

Director

Employee

Entrepreneur

Owner

Correct! Wrong!

8. ---------------------- is the most important function of an entrepreneur according to Schumpeter.

Innovation

Organizing

managing

Exploring the market opportunities.

Correct! Wrong!

9. ----------------------- has a vital role in the economic growth of a country.

Manager

Employee

Owner

Entrepreneur

Correct! Wrong!

10. -----------------------Urges a person to move or behave.

Risk bearing capacity

Motivation

Training

Objectives

Correct! Wrong!

11. An ------------------ is his own boss.

A. Entrepreneur

B. Partner

C. Manager

D. Director

Correct! Wrong!

12. Who introduces the need hierarchy theory?

A. Hagen

B. Schumpeter

C. Maslow

D. Dan hot.

Correct! Wrong!

13. Innovation means --------------------.

A. Invention

B. Creating something new

C. Imagination

D. None of these

Correct! Wrong!

14. The word entrepreneur is derived from the --------------- word.

A. Latin

B. French

C. Greek

D. None of these

Correct! Wrong!

15. ----------------- is a situation where the individuals do not get any jobs.

A. Unemployment

B. Under employment

C. Employment

D. none of these

Correct! Wrong!

16. P E R T stands for.

A. program evaluation and review technique.

B. Project evaluation and review technique.

C. Preparation and evaluation of review technique.

D. None of these.

Correct! Wrong!

17. C P M stands for:

A. Critical path method

B. Criteria for profit making

C. Critical program method

D. None of these.

Correct! Wrong!

18 --------------------- is the combination of activities and of a project.

A. Network

B. Design

C. Techniques

D. None of these.

Correct! Wrong!

19. “An Entrepreneur reduces uncertainty in his/her plan of investment, diversification of production and expansion of the enterprise. He is a self-confident and highly optimistic person, willing to assume the risks involved in an innovation, new business and expansion of Existing Venture.” .”. Which of the following Entrepreneurial function of an Entrepreneur is highlighted in Quoted lines?

(a) Risk Taking

(b) Organisation Building

(d) Production

Correct! Wrong!

20. Which of these actions of an entrepreneur will most likely result in creative destruction?

A) Developing a new product

B) Taking over a competitor’s business

C) Issuing shares to individuals and institutions

D) Lowering prices of your product or service

Correct! Wrong!

Questions 21 to 40

G Ads:

21. The entrepreneurial motivations of individuals usually relate to which of the following factors?

The environment

the entrepreneur

the venture

all of the above

Correct! Wrong!

22. Many entrepreneurs lack _____ for their new venture.

Innovation

Intelligence

Objectivity

both a and b

Correct! Wrong!

23. Which of the following is critical to a product’s success?

Timing

marketing approach

Objectivity

All of the above

Correct! Wrong!

24. A common pitfall in selecting a new venture is:

Poor financial understanding.

Proper objective evaluation.

Real insight into the market.

None of the above.

Correct! Wrong!

25. Name the pitfall described by the statement, “Engineers and technically trained people are particularly prone to falling in love with an idea for a product or service.”

inadequate understanding of technical requirements

lack of venture uniqueness

no real insight into the market

lack of objective evaluation

Correct! Wrong!

26. Poor financial understanding is characterised by which of the following?

failure to anticipate technical difficulties

inadequate understanding of costs and funding requirements

failure to realize the life cycle of a product

lack of product differentiation

Correct! Wrong!

27. Venture classifications include which of the following types of venture?

hobby ventures

smaller copycat ventures

high-growth ventures

survival ventures

Correct! Wrong!

28. Three specific phases that a new venture goes through are:

Prestart-up, start-up, post start-up.

Start-up, post start-up, evaluation.

Beginning start-up, start-up, ending start-up.

Prestart-up, start-up, evaluation.

Correct! Wrong!

29. The type of venture that is expected to attract venture capital would most likely be a:

Corporate venture.

High-growth venture.

Lifestyle venture.

Smaller venture.

Correct! Wrong!

30. Which of the following as a factor contributing to new-venture failure?

Product/market problems.

Family issues.

Personality clashes.

Good management/poor product.

Correct! Wrong!

31. Using the failure prediction model discussed in the chapter, the risk of failure can be reduced by:

using less debt as initial financing and generating revenue in the initial stages.

using more debt as initial financing and generating less revenue in the initial stages.

using more revenue to enhance more debt in the initial stage.

all of the above.

Correct! Wrong!

32. Which of the following is a major reason for the failure of a new venture?

inadequate market knowledge

good product performance

opening in the wrong location

good product/poor marketing

Correct! Wrong!

33. Rapid technological advances in many industries cause a concern for ____ in new venture development.

faulty product performance

rapid product obsolescence

inadequate awareness of competitive pressures

Under capitalisation

Correct! Wrong!

34. Market feasibility analysis relies on:

organizational competence

the entrepreneur’s vision

venture capital

general economic trends and competitor data

Correct! Wrong!

35. An approach developed as a criteria selection list from which entrepreneurs can gain insights into the viability of their venture is the:

Feasibility criteria approach.

Time-essence of a venture approach.

Marketability feasibility approach.

Comprehensive feasibility approach.

Correct! Wrong!

36. Which one of the following theories has the attribute of moderate risk-taking as a function of skill, not chance?

Need for independence

Need for achievement

Need for affiliation

Need for authority

Correct! Wrong!

37. A ______________ is a professional money manager who makes risk investments from a pool of equity capital to obtain a high rate of return on investments.

Please select 2 correct answers

Venture Capitalist

Entrepreneur

Businessman

Buyer

Correct! Wrong!

38. The business plan should be prepared by:

Please select 2 correct answers

Entrepreneurs

Consultants

Engineers

Small business administration services

Correct! Wrong!

39. External forces directly affect all of the following EXCEPT:

Market segmentation strategies

Types of products/services offered

Management structure of organization

Choice of businesses to acquire or sell

Correct! Wrong!

40. Government can help in forming new ventures by providing:

Finance

Technology

Infrastructure

Funds

Correct! Wrong!

Questions 41 to 50

G Ads:

41. Gazelles are the firms with:

High growth rate

Moderate growth rate

Zero% growth rate

Low growth rate

Correct! Wrong!

42. Professional support network includes following EXCEPT:

Personal affiliations

Mentor

Friends

Trade associations

Correct! Wrong!

43. The period in which the money person entered into a contract with the go-between to sell his goods is known as

Middle ages

18th century

17th century

Earliest period

Correct! Wrong!

44. Which one of the Following is not the way by which an entrepreneur can enter into international business?

Export

Non equity arrangements

Direct foreign investment

Communication

Correct! Wrong!

45. ______________ viewed the entrepreneur as a risk taker who "buy(s) at an uncertain price, therefore operating at a risk".

Eli Whitney

Edward hariman

Richard cantillon

Thomas Edison

Correct! Wrong!

46. Female entrepreneurs differ from male entrepreneurs in terms of all of the following EXCEPT:

Motivation

business skills

Departure point

Goal orientation

Correct! Wrong!

47. An entrepreneur into the hosiery business found out the reason his hosiery was not selling was due to its color. What could be the best source of this information?

Supplier

Retailer

Competition

Government bureau

Correct! Wrong!

48. Which of the following factors does not affect a person for being an entrepreneur?

Gender

Education

Family background

values

Correct! Wrong!

49. Which of the following factors does not affect a person for being an entrepreneur?

Work history

Nationality

Education

Personal values

Correct! Wrong!

50. The former USSR received technology and syrup from Pepsi and provided it with Soviet vodka and rights to distribute it in the US. This is an example of:

Economic development

Balance of payment

Barter system

International trade

Correct! Wrong!

For more Entrepreneurship MCQs with Answers, Click the following links:

1 to 50, 51 to 100, 101 to 150, 151 to 200, 201 to 250, 251 to 300, 301 to more

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Entrepreneurship MCQs with Answers

1. An individual who undertakes the creation, organization, and ownership of a business.

2. An entrepreneur who introduces new goods technology and better combination of an enterprise is an--------------------- entrepreneur.

3. An entrepreneur who is a dynamic person and is interested in establishing a business enterprise is called --------------------- entrepreneur.

4. A person who owns , operate and takes risk of a business venture.

5. The primary motivating force behind entrepreneur is.

6. Who can become an entrepreneur?

7. People who work for someone else.

8. ---------------------- is the most important function of an entrepreneur according to Schumpeter.

9. ----------------------- has a vital role in the economic growth of a country.

10. -----------------------Urges a person to move or behave.

11. An ------------------ is his own boss.

12. Who introduces the need hierarchy theory?

13. Innovation means --------------------.

14. The word entrepreneur is derived from the --------------- word.

15. ----------------- is a situation where the individuals do not get any jobs.

16. P E R T stands for.

17. C P M stands for:

18 --------------------- is the combination of activities and of a project.

20. Which of these actions of an entrepreneur will most likely result in creative destruction?

21. The entrepreneurial motivations of individuals usually relate to which of the following factors?

22. Many entrepreneurs lack _____ for their new venture.

23. Which of the following is critical to a product’s success?

24. A common pitfall in selecting a new venture is:

25. Name the pitfall described by the statement, “Engineers and technically trained people are particularly prone to falling in love with an idea for a product or service.”

26. Poor financial understanding is characterised by which of the following?

27. Venture classifications include which of the following types of venture?

28. Three specific phases that a new venture goes through are:

29. The type of venture that is expected to attract venture capital would most likely be a:

30. Which of the following as a factor contributing to new-venture failure?

31. Using the failure prediction model discussed in the chapter, the risk of failure can be reduced by:

32. Which of the following is a major reason for the failure of a new venture?

33. Rapid technological advances in many industries cause a concern for ____ in new venture development.

34. Market feasibility analysis relies on:

35. An approach developed as a criteria selection list from which entrepreneurs can gain insights into the viability of their venture is the:

36. Which one of the following theories has the attribute of moderate risk-taking as a function of skill, not chance?

37. A ______________ is a professional money manager who makes risk investments from a pool of equity capital to obtain a high rate of return on investments.

38. The business plan should be prepared by:

39. External forces directly affect all of the following EXCEPT:

40. Government can help in forming new ventures by providing:

41. Gazelles are the firms with:

42. Professional support network includes following EXCEPT:

43. The period in which the money person entered into a contract with the go-between to sell his goods is known as

44. Which one of the Following is not the way by which an entrepreneur can enter into international business?

45. ______________ viewed the entrepreneur as a risk taker who "buy(s) at an uncertain price, therefore operating at a risk".

46. Female entrepreneurs differ from male entrepreneurs in terms of all of the following EXCEPT:

47. An entrepreneur into the hosiery business found out the reason his hosiery was not selling was due to its color. What could be the best source of this information?

48. Which of the following factors does not affect a person for being an entrepreneur?

49. Which of the following factors does not affect a person for being an entrepreneur?

50. The former USSR received technology and syrup from Pepsi and provided it with Soviet vodka and rights to distribute it in the US. This is an example of:

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