Entrepreneurship MCQ

Multiple choice questions of Subject Commerce Solved Entrepreneurship MCQ ( Entrepreneurship MCQ Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.

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Entrepreneurship MCQ | Entrepreneurship Development MCQ Questions and Answers PDF

1. What is an entrepreneur?

(a) Someone who invests time and money to start a business

(b) Someone who makes a lot of money

(c) Someone who takes a risk to make a profit

(d) Both ‘a’ and ‘c

Ans. d

2. Entrepreneurs undertake

(a) calculated risk

(b) low risk

(c) high risk

(d) moderate and calculate risk both

Ans. c

3. Capital is

(a) money available to invest

(b) prohibitive cost of entry

(C) a guarantee that a company will be successful

(d) Both ‘a’ and ‘b’

Ans. a

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

(a) Business model

(c) Modelling

(b) Innovation

(d) Creative flexibility

Ans. b

5. In economics, which of the following is not a function of entrepreneur? 

(a) Risk-taking

(b) Innovation

(c) Day-to-day conduct of business

(d) None of the above

Ans. c

6. Which one of the following gives suggestions for new products and also helps to market new products?

(a) Existing products and services

(b) Federal government

(c) Distribution channels

(d) Consumers

Ans. c

7. Which of the following attitudes is not generally associated with successful entrepreneurship?

(a) Investing in R and D

(b) Live your business day by day

(c) Innovate and improvise continually

(d) Produce as per customers requirements

Ans. b

8. The entrepreneur was distinguished from capital provider in

(a) middle ages

(c) 18th century

(b) 17th century

(d) 19th and 20th century

Ans. c

Entrepreneurship Development MCQ Questions and Answers PDF | Entrepreneurship MCQ | Entrepreneurs are Motivated by MCQ

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

(a) sarliest period

(c) 17th century

(b) middle ages

(d) 19th and 20th century

Ans. b

10. What is the process by which individuals pursue opportunities without regard to resources they currently control?

(a) Start-up management

(c) Feasibility planning

(b) Financial analysis

(d) Entrepreneunhip

Ans. d

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11. Having less than 50% of equity shares in an international venture is called

(a) joint venture

(c) exporting

(b) majority interest

(d) minority interest

Ans. d

12. If an entrepreneur has an internal locus of control, this means that he/she

(a) has a high need for achievement

(b) believes that success of failure depends on his/her own action

(c) feels easy in an unstructured situation

(d) None of the above

Ans. b

13. Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete?

(a) New business model

(b) Anatomisation

(c) Creative destruction

(d) None of these

Ans. c

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

(a) Entrepreneurship

(b) Intrapreneurship

(c) Act of stating a new venture

(d) Offering new products by an existing company

Ans. b

15. Entrepreneurs would be best described as risk

(a) taker

(b) averse

(c) loving

(d) manager

Ans. d

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

(a) motivation

(b) business skills

(c) departure point

(d) goal orientation

Ans. c

Entrepreneurship Development mcq | Entrepreneurship Development mcq Questions and Answers

17. Which one of the following is an important source of idea generation due to their familiarity with the needs of market?

(a) Existing products and services

(b) Distribution channels

(c) Federal government

(d) Consumers

Ans. b

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

(a) they earn a handsome profit from new business

(b) they do not bother if entrepreneur bears a loss

(c) they have well-developed sales force

(d) they are familiar with the needs of the market

Ans. d

19. Which of the following is a common entrepreneurial trait?

(a) Viewing changes as threatening

(b) A need for good environment

(C) A high need for achievernent

(d) All of the above

Ans. c

20. Which one of the following is the next stage to the concept stage of product planning and development process?

(a) Idea stage

(b) Product development stage

(c) Product planning stage

(d) Test marketing stage

Ans. b

21. The process of gathering information about trends called

(a) need for achievement

(b) tenacity

(c) neuroticism

(d) scanning the environment

Ans. d

22. SBA stands for

(a) Small Business Accountants

(b) Small Business Adequacy

(c) Small Business Advisors

(d) Small Business Administration

Ans. d

23. Which of the following is true for disclosure document?

(a) It gives recögnition that he was the inventor of the idea in past

(b) It gives recognition that he is the first inventor of the idea

(C) It gives recognition that he will be invent an idea in future

(d) It gives recognition that he wants

Ans. b

24. The opposite word for opportunity thinking would be

(a) think about self-leadership

(b) obstacie thinking

(c) selt-efficacy

(d) None of the above

Ans. b

25. Which of the following factor has allowed small companies to act like they are big ones?

(a) Customers

(b) Economic development

(c) Technology

(d) Competition

Ans. c

26. The process of gathering information about trends is called

(a) idea generation

(c) tenacity

(b) scanning the environment

(d) All of these

Ans. b

27. What is an advantage of the small firm in the innovation process?

(a) Development of a new product

(b) Ability to carry out Rand D

(c) Ability of the entrepreneur to act on new ideas or product development

(d) Ability of the entrepreneur to carry out multiple tasks

Ans. c

28. Firms located on science parks compared to those located off science parks are

(a) more innovative

(b) less innovative

(c) no more or less innovative

(d) more growth orientated

Ans. a

29. All of the following are popular demographic factors about entrepreneurs that have been studied except

(a) gender

(c) éducation

(b) self-confidence

(d) family birth order

Ans. b

30. The three main responsibilities involved with managing an entrepreneurial venture, once its up and running include all of the following except

(a) managing bureaucracy

(b) managing growth

(c) managing people

(d) managing processes

Ans. a

For More Commerce MCQs Topic Wise Click Here

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For More Commerce MCQs Topic Wise Click Here

1. Bookkeeping and Accounting 2. Not-for-Profit Organisations
3. Partnership4. Accounting for Specific Business and Transactions
5. Corporate Accounting6. Cost Accounting
7. Management Accounting8. Business Communication
9. Business Organisation and Management10. Business Environment
11. Marketing Management12. Financial Management
13. Human Resource Management14. Office Management
15. Consumer’s Theory and Demand16 Production, Cost, Revenue
17. Supply18. Forms of Market
19. National Income20. Government Budget
21. Theory of Income & Employment and Inflation22. Money and Banking
23. International Trade24. India’s Foreign Trade and international Organisations
25. Industrial Policy26. Statistics
27. Business Law28. Company Law
29. Auditing30. Entrepreneurship Development
31. Income Tax32. Insurance
33. International Business34. Company Secretary and Secretarial Methods
35. Stock Exchange

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