This quiz works best with JavaScript enabled. Home > Business > Entrepreneurship Development – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Entrepreneurship Development Quiz 7 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. 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. Keen understanding of concept. 2. People who own, operate, and take risk of a business venture: A) Aptitude. B) Employee. C) Entrepreneurs. D) Entrepreneurship. Show Answer Correct Answer: C) Entrepreneurs. 3. What is provincial registration by SME? A) Permanent registration. B) Registration by SME after making profit. C) Registration at pre-investment stage. D) None of the above. Show Answer Correct Answer: C) Registration at pre-investment stage. 4. Which statement that best describe the advantages of social media platform? (C2) A) Geo target content and are able to generate higher converting leads. B) Slow and difficult in sharing content. C) Does not encourage in building relationship. D) Real-time results are hard to obtain. Show Answer Correct Answer: A) Geo target content and are able to generate higher converting leads. 5. What is also innovation? A) 1. Creating or finding old products. B) 2.Creating new methods of production. C) 3. Working in existing markets only. D) 4. Using existing sources of raw material. Show Answer Correct Answer: B) 2.Creating new methods of production. 6. The process of preparing an inventory of skills needed for effective implementation of the project is called as ..... A) Economic viability. B) Financial feasibility. C) Technical feasibility. D) Managerial competence. Show Answer Correct Answer: D) Managerial competence. 7. Hiring a professional to conduct your feasibility study can A) Be very inexpensive. B) Reduce bias. C) Guarantee profit. D) Create demand. Show Answer Correct Answer: B) Reduce bias. 8. Today, many companies are using managerial techniques that are designed to encourage ..... A) Increasing profits. B) Legal compliances. C) Ethical behavior. D) Shareholders value. Show Answer Correct Answer: C) Ethical behavior. 9. ..... are companies in the financial sector that provide a broad range of business and services including banking, insurance, and investment management.A)B)C)D) A) Financial Institutions. B) Venture Capitalist. C) Sponsors. D) All of the Above. Show Answer Correct Answer: A) Financial Institutions. 10. What is a customer segmentation? (C1) A) It is an application on how to get customer's data. B) It is an application of clustering techniques to customer data. C) It is a customer base. D) It is a customer base that obtain through selling activity. Show Answer Correct Answer: B) It is an application of clustering techniques to customer data. 11. Robert Anthony's Framework for Understanding MIS include:- A) Strategic Planning. B) Managerial Control. C) Operational Control. D) All of the Above. Show Answer Correct Answer: D) All of the Above. 12. Members of distribution channels are excellent sources for new ideas because: A) They earn a handsome profit from new business. B) They are familiar with the needs of the market. C) They do not bother if entrepreneur bears a loss. D) They have well-developed sales force. Show Answer Correct Answer: B) They are familiar with the needs of the market. 13. The word entrepreneur is derived from the ..... word 'entreprende' A) Japanese. B) English. C) Latin. D) French. Show Answer Correct Answer: D) French. 14. For an entrepreneur when decided which industry to enter and what business to be in will ensure success as A) 1.Good resources can only lead to success. B) 2. Deciding to start only is success as resources are committed so they will work. C) 3. The nature and quality of the resources, capabilities, and strategies the entrepreneur possesses is never a hindering factor for long-term success.. D) 4. Choosing the resources for a firm, configuring these resources into a consistent strategy, and deploying the resources (implementation) are the typical entrepreneurial acts for success. Show Answer Correct Answer: D) 4. Choosing the resources for a firm, configuring these resources into a consistent strategy, and deploying the resources (implementation) are the typical entrepreneurial acts for success. 15. An entrepreneur is someone A) Someone who works for a new business. B) Someone who starts a new business. C) Someone who takes over an existing business. D) Someone who does not want to work. Show Answer Correct Answer: B) Someone who starts a new business. 16. What are the objectives of EDP A) To Identify and train the potential entrepreneur. B) To motivate entrepreneurial instinct. C) To help in team building. D) All of these. Show Answer Correct Answer: D) All of these. 17. Idea generation is considered important for an entrepreneur, and it implies A) 1.Doing something simply because no one else did it. B) 2. Idea generation is not that important because everyone has an idea in which they can work on. C) 3. Idea generation is possible through vision, insight, keen observation, education, experience and exposure. D) 4. Idea generation is a simple exercise involving brainstorming. Show Answer Correct Answer: C) 3. Idea generation is possible through vision, insight, keen observation, education, experience and exposure. 18. What is the purpose of a business plan? A) 1. Creates the Business Model for Investor. B) 2 It is just a plan on paper. C) 3. Highlights risks and challenges and opportunities for a idea or company. D) 4. It is just way to do more research about various businesses. Show Answer Correct Answer: C) 3. Highlights risks and challenges and opportunities for a idea or company. 19. The organizational section of a feasibility study may include A) Biographical information about owners/managers. B) A recommendation of whether or not to proceed with the venture. C) A brief description of the proposed project. D) A list of computer software requirements. Show Answer Correct Answer: A) Biographical information about owners/managers. 20. Promoter is a person who ..... A) Takes part in the incorporation of a company . B) Is a director. C) Is a relative of the managing director. D) Works to publicity to the company. Show Answer Correct Answer: A) Takes part in the incorporation of a company . ← PreviousNext →Related QuizzesEntrepreneurship Development Quiz 1Entrepreneurship Development Quiz 2Entrepreneurship Development Quiz 3Entrepreneurship Development Quiz 4Entrepreneurship Development Quiz 5Entrepreneurship Development Quiz 6Entrepreneurship Development Quiz 8Entrepreneurship Development Quiz 9Entrepreneurship Development Quiz 10Entrepreneurship Development Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books