This quiz works best with JavaScript enabled. Home > Business > Entrepreneurship Development – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Entrepreneurship Development Quiz 3 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which type of entrepreneurs utilizes a chance to introduce a new technique or new product? A) Innovative entrepreneur. B) Instigated entrepreneur. C) Initiative entrepreneur. D) Fabian entrepreneur. Show Answer Correct Answer: A) Innovative entrepreneur. 2. Who is an Entrepreneur? A) 1. A person who works for someone. B) 2. A person who purposefully works to create or run a business to achieve an objective. C) 3. A person who a buys a successful business. D) 4. A person who teaches business at college. Show Answer Correct Answer: B) 2. A person who purposefully works to create or run a business to achieve an objective. 3. Related to Entrepreneur, IPR stands for? A) Innovative Policy Resolutions. B) Industrial Protection Resolutions. C) Intellectual property rights. D) Income Plan Rewards. Show Answer Correct Answer: C) Intellectual property rights. 4. 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. 5. Which of the following factors is the most important in forcing U.S companies to focus on new product development and increased productivity? A) Entrepreneurship. B) Hyper competition. C) Governmental laws. D) Organizational culture. Show Answer Correct Answer: B) Hyper competition. 6. 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. 7. 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. 20 Lakh. C) Rs. 25 Lakh. D) Rs. 30 Lakh. Show Answer Correct Answer: C) Rs. 25 Lakh. 8. 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. 9. 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 less. B) 75% of the cost or Rs.15000 whichever is high. C) 50% of the cost or Rs.15000 whichever is less. D) 50% of the cost or Rs.15000 whichever is high. Show Answer Correct Answer: A) 75% of the cost or Rs.15000 whichever is less. 10. Who created Facebook? A) Mark Zuckerberg. B) Elon Musk. C) JK Rowling. D) Walt Disney. Show Answer Correct Answer: A) Mark Zuckerberg. 11. What is the process by which individuals pursue opportunities without regard to resources they currently control? A) Startup management. B) Entrepreneurship. C) Financial analysis. D) Feasibility planning. Show Answer Correct Answer: B) Entrepreneurship. 12. 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. 13. 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. 14. Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process? A) Idea Stage. B) Product Planning Stage. C) Product Development Stage. D) Test Marketing Stage. Show Answer Correct Answer: C) Product Development Stage. 15. 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. 16. ..... is a fast developing technique of business expansion by transferring rights. A) Dealership. B) Networking. C) Franchising. D) Technopreneurship. Show Answer Correct Answer: C) Franchising. 17. 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. 18. 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. 19. Entrepreneurial Guidance Bureau(EGB) was set up by ..... A) SISI. B) SIPCOT. C) IIC. D) SIDCO. Show Answer Correct Answer: C) IIC. 20. Individuals are motivated by government policies and facilities are known as ..... A) Pure. B) Induced. C) Motivated. D) Spontaneous. Show Answer Correct Answer: B) Induced. ← PreviousNext →Related QuizzesEntrepreneurship Development Quiz 1Entrepreneurship Development Quiz 2Entrepreneurship Development Quiz 4Entrepreneurship Development Quiz 5Entrepreneurship Development Quiz 6Entrepreneurship Development Quiz 7Entrepreneurship Development Quiz 8Entrepreneurship Development Quiz 9Entrepreneurship Development Quiz 10Entrepreneurship Development Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books