Entrepreneurship MCQs Quiz Multiple Choice Questions & Answers

1. A corporate manager who starts a new initiative for their company which entails setting up a new distinct business unit and board of directors can be regarded as?

1. Intrapreneur
2. Social Entrepreneur
3. Ecopreneur
4. Technopreneur

2. A corporate manager who starts a new initiative for their company which entails setting up anew distinct business unit and board of directors can be regarded as?

1. Intrapreneur
2. Social Entrepreneur
3. Ecopreneur
4. Technopreneur

3. A Micro Enterprise is an enterprise where investment in plant and machinery does not exceed (According to MSMED Act, 2006):

1. Rs. 25 Lakh
2. Rs. 30 Lakh
3. Rs. 15 Lakh
4. Rs. 20 Lakh

4. A performance and credit rating scheme has been launched by the MSME Ministry to assess creditworthiness and capabilities of industries in the sector. What is it called?

1. Performance and Economy Rating Scheme
2. None of the above
3. Performance and Credit Rating Scheme
4. Zero Defect Zero Effect Certification

5. A person who managed large project was termed as the entrepreneur in the _________.

1. 17th century
2. 19th and 20th century
3. Earliest period
4. Middle ages

6. A women entrepreneur is supposed to have a minimum financial interest in share capital of entrepreneur’s enterprise:

1. 25 per cent
2. None of the above
3. 35 per cent
4. 51 per cent

7. EDP (Entrepreneurship Development Programmes) is required to help:

1. Future generations entrepreneurs
2. None of the above
3. Existing entrepreneurs
4. First generation entrepreneurs

8. Family business always interested to handover the change of his business to:

1. Next generation
2. None of the above
3. Indian Administration Officers
4. Professional Managers

9. GATT is established in 1947, under:

1. French leadership
2. U.K. leadership
3. German leadership
4. U.S. leadership

10. Having more than 50% ownership position that provides the entrepreneur with managerialcontrol is called:

1. Horizontal merger
2. Diversified activity merger
3. Joint venture
4. Majority interest

11. Individuals influencing an entrepreneur’s career choice and style are known as which of thefollowing?

1. Professional support network
2. Support system
3. Moral-support network
4. Role model

12. Information regarding all of the following is related to operations, EXCEPT:

1. Raw materials
2. Labor skills
3. Location
4. Promotion

13. Members of distribution channels are excellent sources for new ideas because:

1. They do not bother if entrepreneur bears a loss
2. They have well-developed sales force
3. They earn a handsome profit from new business
4. They are familiar with the needs of the market

14. SBA stands for:

1. Small business adequacy
2. Small business advisors
3. Small business accountants
4. Small business administration

15. The activity which occurs when the new venture is started is called:

1. Departure point
2. Goal orientation
3. Motivation
4. Business skills

16. The entrepreneur was distinguished from capital provider in:

1. 18th century
2. 19th and 20th century
3. Middle ages
4. 17th century

17. The level at which an individual is viewed by society is called:

1. Social status
2. Achievement
3. Financial status
4. Qualification

18. Venture capital is concerned with:

1. New project having high risk
2. All the above.
3. New project having potential for higher profit
4. New project of high technology

19. What is the process by which individuals pursue opportunities without regard to resourcesthey currently control?

1. Financial analysis
2. Feasibility planning
3. Startup management
4. Entrepreneurship

20. Which of the following factors is the most important in forcing U.S companies to focus onnew product development and increased productivity?

1. Governmental laws
2. Organizational culture
3. Entrepreneurship
4. Hyper competition

21. Which of the following is alternatively called corporate venturing?

1. Act of stating a new venture
2. Offering new products by an existing company
3. Entrepreneurship
4. Intrapreneurship

22. Which of the following is used by entrepreneurs to acquire experience in an internationalmarket before making a major commitment?

1. Joint venture
2. Majority interest
3. Merger
4. Minority Interest

23. Which of the following shows the process of creating something new?

1. Creative flexibility
2. Innovation
3. Business model
4. Modeling

24. Which one of the following gives suggestions for new product and also help to market new products?

1. Distribution Channels
2. Consumers
3. Existing products and services
4. Federal government

25. Which one of the following is an important source of idea generation due to their familiaritywith the needs of market?

1. Federal government
2. Consumers
3. Existing products and services
4. Distribution channels

26. Which one of the following is the most important characteristic of a successful businesswebsite?

1. Graphics
2. Products
3. Innovation
4. Speed

27. Which one of the following is the next stage to the Concept Stage of Product Planning andDevelopment Process?

1. Product Development Stage
2. Test Marketing Stage
3. Idea Stage
4. Product Planning Stage

28. Which one of the following is the process of entrepreneurs developing new products thatover time make current products obsolete?

1. None of the given options
2. Creative destruction
3. New business model
4. Anatomization

29. Why should an entrepreneur do a feasibility study for starting a new venture

1. To estimate the expected sales
2. To explore potential customers
3. To identify possible sources of funds
4. To see if there are possible barriers to success

30. Having less than 50 percent of equity share in an international venture is called

1. Minority Interest
2. Exporting
3. Joint Venture
4. Majority Interest