This quiz works best with JavaScript enabled. Home > Agriculture > Business > Entrepreneurship > Entrepreneurship Development – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Entrepreneurship Development Quiz 2 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following involves information regarding anticipated risks and the ways to mitigate them? A) Management and Organization Plan. B) Contingency Plan. C) Operations Plan. D) Financial Plan. Show Answer Correct Answer: D) Financial Plan. 2. What motivates female entrepreneurship? A) Money. B) Personal Enrichment. C) A drive to make societal changes. D) All of the above. Show Answer Correct Answer: D) All of the above. 3. Identify the characteristics of family business in India? A) 1.Family business is not common in the Indian economy like elsewhere in the world. B) 2. Family business is a firm that is not closely identified with at least two generations of a family. C) 3. Family business in India never has had a mutual influence on company policy and on the interests and objectives of the family. D) 4. Family exercises control over family business in the form of ownership or in the form of management of the firm where family members are employed on key positions in India. Show Answer Correct Answer: D) 4. Family exercises control over family business in the form of ownership or in the form of management of the firm where family members are employed on key positions in India. 4. Which of the following is NOT nature of Small Business? A) Non Community-based. B) Labour intensive. C) Shoestring Budget. D) Indigenous technology. Show Answer Correct Answer: A) Non Community-based. 5. What was the name of the company Ryan established? A) Ryan's Bottles company. B) Ryan's Recycling Company. C) Ryan's Box Company. D) Ryan's Bag company. Show Answer Correct Answer: B) Ryan's Recycling Company. 6. Business model canvas consist of ..... blocks to understand the overall picture of the chosen business. (C1) A) Nine. B) Ten. C) Eight. D) Six. Show Answer Correct Answer: A) Nine. 7. National Alliance of Young Entrepreneurs (NAYE) Sponsored an Entrepreneurial Development scheme with Bank of India in ..... A) January 1972. B) August 1972. C) August 1920. D) January 1920. Show Answer Correct Answer: B) August 1972. 8. Individuals influencing an entrepreneur's career choice and style are known as which of the following? A) Professional support network. B) Moral-support network. C) Role model. D) Support system. Show Answer Correct Answer: C) Role model. 9. Which of the following businesses would most likely be considered a scalable startup business? A) Agricultural equipment sales dealership, like John Deere. B) A GPS or Drone manufacturer. C) Local grocery store. D) A food pantry operated as a non-for-profit business. Show Answer Correct Answer: B) A GPS or Drone manufacturer. 10. ....., which is included in the project cost, is estimated on the basis of the year when the enterprise breaks even. A) Working capital. B) Cost of equity. C) . cost of capital. D) Cost of production. Show Answer Correct Answer: A) Working capital. 11. Which type of entrepreneurs utilizes a chance to introduce a new technique or new product? A) Fabian entrepreneur. B) Instigated entrepreneur. C) Initiative entrepreneur. D) Innovative entrepreneur. Show Answer Correct Answer: D) Innovative entrepreneur. 12. Who is an Entrepreneur? A) 2. A person who purposefully works to create or run a business to achieve an objective. B) 4. A person who teaches business at college. C) 3. A person who a buys a successful business. D) 1. A person who works for someone. Show Answer Correct Answer: A) 2. A person who purposefully works to create or run a business to achieve an objective. 13. Related to Entrepreneur, IPR stands for? A) Industrial Protection Resolutions. B) Innovative Policy Resolutions. C) Intellectual property rights. D) Income Plan Rewards. Show Answer Correct Answer: C) Intellectual property rights. 14. Project management is ideally suited for a business environment requiring all of the following except ..... A) . Flexibility. B) Innovation. C) Speed. D) . Repeatability. Show Answer Correct Answer: D) . Repeatability. 15. Which of the following factors is the most important in forcing U.S companies to focus on new product development and increased productivity? A) Hyper competition. B) Entrepreneurship. C) Organizational culture. D) Governmental laws. Show Answer Correct Answer: A) Hyper competition. 16. The second last step of EDP is ..... A) Selection of training personnel. B) Actual training. C) Monitoring and follow up. D) Actual training program. Show Answer Correct Answer: B) Actual training. 17. A Micro Enterprise is an enterprise where investment in plant and machinery does not exceed (According to MSMED Act, 2006): A) Rs. 15 Lakh. B) Rs. 25 Lakh. C) Rs. 20 Lakh. D) Rs. 30 Lakh. Show Answer Correct Answer: B) Rs. 25 Lakh. 18. Decisions taken by an entrepreneur on behalf of his enterprise are known as ..... A) Organizational decisions. B) Personal decisions. C) Routine decisions. D) Strategic decisions. Show Answer Correct Answer: A) Organizational decisions. 19. New entrepreneurs entering the field of medium industry for the first time can have market studies with the subsidiary of ..... A) 75% of the cost or Rs.15000 whichever is high. B) 75% of the cost or Rs.15000 whichever is less. C) 50% of the cost or Rs.15000 whichever is high. D) 50% of the cost or Rs.15000 whichever is less. Show Answer Correct Answer: B) 75% of the cost or Rs.15000 whichever is less. 20. Who created Facebook? A) Walt Disney. B) JK Rowling. C) Mark Zuckerberg. D) Elon Musk. Show Answer Correct Answer: C) Mark Zuckerberg. 21. What is the process by which individuals pursue opportunities without regard to resources they currently control? A) Entrepreneurship. B) Startup management. C) Feasibility planning. D) Financial analysis. Show Answer Correct Answer: A) Entrepreneurship. 22. Expansion of GDP is ..... A) Gross domestic product. B) Gross demand of product. C) Grand demand product. D) General demand product. Show Answer Correct Answer: A) Gross domestic product. 23. The end goal of a feasibility study is to A) Allow owners/ managers to make a sound decision about the venture. B) Ensure that competitiors cannot steal the idea for the venture. C) Determine the best marketing tactics for the venture. D) Convince investors to commit money to the venture. Show Answer Correct Answer: A) Allow owners/ managers to make a sound decision about the venture. 24. Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process? A) Product Planning Stage. B) Idea Stage. C) Test Marketing Stage. D) Product Development Stage. Show Answer Correct Answer: D) Product Development Stage. 25. 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) Anatomization. C) None of the given options. D) Creative destruction. Show Answer Correct Answer: D) Creative destruction. 26. ..... is a fast developing technique of business expansion by transferring rights. A) Technopreneurship. B) Dealership. C) Networking. D) Franchising. Show Answer Correct Answer: D) Franchising. 27. An entrepreneur is A) Born. B) Made. C) Born and made both. D) All of these. Show Answer Correct Answer: C) Born and made both. 28. ROI is referring to:(C1) A) Repeat on investment. B) Reorder on investment. C) Return on investment. D) Repeat on index. Show Answer Correct Answer: C) Return on investment. 29. Entrepreneurial Guidance Bureau(EGB) was set up by ..... A) SIPCOT. B) SISI. C) IIC. D) SIDCO. Show Answer Correct Answer: C) IIC. 30. Individuals are motivated by government policies and facilities are known as ..... A) Motivated. B) Spontaneous. C) Pure. D) Induced. Show Answer Correct Answer: D) Induced. ← PreviousNext →Related QuizzesBusiness QuizzesAgriculture QuizzesEntrepreneurship Development Quiz 1Entrepreneurship Development Quiz 3Entrepreneurship Development Quiz 4Entrepreneurship Development Quiz 5Entrepreneurship Development Quiz 6Entrepreneurship Development Quiz 7Entrepreneurship Development Quiz 8Entrepreneurship Development Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books