This quiz works best with JavaScript enabled. Home > Agriculture > Business > Entrepreneurship > Entrepreneurship Development – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Entrepreneurship Development Quiz 4 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Entreprendre means to A) Undertake. B) Enterprise. C) Businessman. D) All of the above. Show Answer Correct Answer: A) Undertake. 2. What are the four P's of marketing A) Promotion, place, price, product. B) Promotion, product, practice, price. C) Person, place, produce, practice. D) Product, produce, production, price. Show Answer Correct Answer: A) Promotion, place, price, product. 3. Which one of the following is the most important characteristic of a successful business website? A) Speed. B) Innovation. C) Graphics. D) Products. Show Answer Correct Answer: A) Speed. 4. Annual turnover of entity under start up india should be; A) 100 crores. B) Less than 100 crores. C) More than 100 crores. D) Less than 10 crores. Show Answer Correct Answer: B) Less than 100 crores. 5. . A project, which may not add to the existing profits, should be financed by ..... A) Equity capital. B) . preference share capital. C) Debentures. D) Public deposits. Show Answer Correct Answer: C) Debentures. 6. How can one be an entrepreneur? A) Take an existing product and improve or modify it. B) Think of a completely new idea. C) Any of the above. D) None of above. Show Answer Correct Answer: C) Any of the above. 7. A business that can legally act as a single person, even though many people may own it A) Entrepreneurship. B) Sole Proprietorship. C) Corporation. D) Partnership. Show Answer Correct Answer: C) Corporation. 8. A business arrangement where one party allows another party to use a business Name and sell its products or services is known as ..... A) A franchise. B) An owner-manager business. C) A limited company. D) A cooperative. Show Answer Correct Answer: A) A franchise. 9. The Markets and Competitors section of a business plan should contain ..... A) A statement of the target market. B) The size of each market segment. C) The key characteristics of buyers in each business segment. D) All the above. Show Answer Correct Answer: D) All the above. 10. ..... is primarily concerned with the identification of the project demand potential and the selection of the optimal technology. A) Financial analysis. B) Input analysis. C) Feasibility analysis. D) Techno-economic analysis. Show Answer Correct Answer: D) Techno-economic analysis. 11. Information regarding all of the following is related to operations, EXCEPT: A) Promotion. B) Raw materials. C) Labor skills. D) Location. Show Answer Correct Answer: B) Raw materials. 12. ..... is a graphical representation of the various activity and event relating to a project. A) Network analysis. B) Network Diagram. C) Logical Model. D) Scheduling technique. Show Answer Correct Answer: B) Network Diagram. 13. What motivates entrepreneurs to succeed? A) 1. their own need to make as much money as possible. B) 2. Very limited product's demand motivates the individuals to succeed. C) 3. The hope of success in pursue of their purpose makes them produce innovative products or substitute products, some entrepreneurs fulfil the market demand by producing complementary goods also. D) 4. Government policies motivate entrepreneurs to succeed. Show Answer Correct Answer: C) 3. The hope of success in pursue of their purpose makes them produce innovative products or substitute products, some entrepreneurs fulfil the market demand by producing complementary goods also. 14. A person who never takes risk in his firm is known as ..... A) Fabian. B) Innovative. C) Imitative. D) Drone. Show Answer Correct Answer: A) Fabian. 15. As per the statistics, Small Medium Enterprises accounts how much % of industrial output? A) 30%. B) 45%. C) 90%. D) 60%. Show Answer Correct Answer: B) 45%. 16. ..... can be defined as a specifically evolved work plan densed to achieve a specific objective within a specific period of time A) Idea generation. B) Strategy. C) Project. D) Opportunity Scanning. Show Answer Correct Answer: C) Project. 17. Owners/Managers should not conduct a feasibility study if they are A) Certain the idea is feasible. B) Unsure about the idea. C) Not ready to start the venture. D) Considering a business expansion. Show Answer Correct Answer: C) Not ready to start the venture. 18. Project mission and objectives, procedures and systems used, and organization resources used typically appear in the ..... section of the final project report. A) Recommendation. B) Analysis. C) Financial feasibility. D) Lessons learned. Show Answer Correct Answer: B) Analysis. 19. . A key aspect of the financial section of the business plan is ..... A) . Production capacity. B) A description of competitors. C) . A realistic sales forecast. D) A statement of management skills. Show Answer Correct Answer: C) . A realistic sales forecast. 20. 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. Show Answer Correct Answer: B) Distribution channels. 21. Why is entrepreneurship important for economic development of an economy? A) 1. Entrepreneurship promotes capital formation by mobilizing the idle saving of the public. B) 2. It provides immediate large-scale employment. Thus it helps to reduce unemployment in the country. C) 3. It provides balanced regional development. D) 4. All of the above. Show Answer Correct Answer: D) 4. All of the above. 22. What are some of the sources of entrepreneurial finance? A) Bootstrapping. B) Angel investors. C) Venture capitalists. D) All of the above. Show Answer Correct Answer: D) All of the above. 23. PEST Analysis is referred to:- A) Personal, Economical, Social & Technological Analysis. B) Political, Economical, Social & Time Analysis. C) Political, Economical, Social & Technological Analysis. D) Political, Economical, Systematic & Technological Analysis. Show Answer Correct Answer: C) Political, Economical, Social & Technological Analysis. 24. Which of the following statements is false? Electronic commerce: A) Can allow new ventures to compete on more or less equal terms with large firms. B) Can lead to small businesses having reduced contact with its customers. C) Is rarely used in small businesses. D) Is used in many different industries and markets. Show Answer Correct Answer: C) Is rarely used in small businesses. 25. Business enterprises need to be innovative for their survival and better performance and smaller firms are better equipped for the same as A) 1. Small firms have more intelligent people. B) 2.Small size makes them agile to experiment and create. C) 3. Small firms do not have advantage of large scale. D) 4. Small firms are free people to innovate. Show Answer Correct Answer: B) 2.Small size makes them agile to experiment and create. 26. Entrepreneurship can best be described as ..... A) . a process that requires setting up a business. B) Taking a significant risk in a business context. C) Having a strong vision. D) A process involving innovation, new products or services, and value creation. Show Answer Correct Answer: D) A process involving innovation, new products or services, and value creation. 27. ..... is used to accomplish the project economically in the minimum available time with limited resources A) Network Analysis. B) Budget Analysis. C) Project Scheduling. D) Critical Planning. Show Answer Correct Answer: C) Project Scheduling. 28. Under Stand up India scheme bank facilitates composite loan between A) Rs. 10 lakh to 10 crores. B) Rs. 1 lakh to 1 crores. C) Rs. 10 lakh to 1 crores. D) None of the above. Show Answer Correct Answer: C) Rs. 10 lakh to 1 crores. 29. Businesses that are designed to improve societal needs, such as efforts to address poverty, are considered: A) Small business entrepreneurship. B) Scalable startup business. C) Large company entrepreneurship. D) Social entrepreneurship. Show Answer Correct Answer: D) Social entrepreneurship. 30. An entrepreneur needs creative thinking for new ideas.How can creative thinking be developed? A) 1. Keen understanding of concept. B) 2.Lot of market knowledge. C) 3. A rigid mindset. D) 4. Legal constraints and regulations. Show Answer Correct Answer: A) 1. 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