Chemistry

MCQS ON ENTREPRENEURSHIP DEVELOPMENT
1. An entrepreneur’s primary motivation for starting a business is
a) To make money
b) To be independent
c) To be famous
d) To be powerful
2. _______________ actions by an entrepreneur are most likely to contribute to creative

destruction.
a) Development of a new product
b) Take-over of a competitor
c) Issuing shares
d) Development of a new product
3. The resistance of employees in an organization against flexibility, growth, and

diversification can be overcome by developing_____________.
a) Entrepreneurship
b) Managerial domain
c) Intrapreneurship
d) Administrative domain
4. ______________ shows the process of creating something new.
a) Innovation
b) Business model
c) Modeling
d) Creative flexibility
5. 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
6. The activity which occurs when the new venture is started is called:
a. Motivation
b. Business skills
c. Departure point
d. Goal orientation
7. Having less than 50 percent of equity share in an international venture is called:
a) Minority interest
b) Joint venture
c) Majority interest
d) Exporting
8. 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
9. Individuals influencing an entrepreneur’s career choice and style are known as which of
the following?
a) Role model
b) Moral-support network
c) Professional support network
d) Support system
10. 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
11. Why should an entrepreneur do a feasibility study for starting a new venture?
a) To see if there are possible barriers to success
b) To identify possible sources of funds
c) To estimate the expected sales
d) To explore potential customers
12. Which of the following factor has allowed small companies to act like they are big ones?
a) Technology
b) Customers
c) Economic development
d) Competition
13. Entrepreneurs are_________
a. Moderate risk taker
b. High risk taker
c. Avoidance
d. Both b and c
14. EDP (Entrepreneurship Development Programmes) is required to help:
a. Existing Entrepreneurs
b. First generation Entrepreneurs
c. Future Generations Entrepreneurs
d. None of the above
15. A women Entrepreneur is supposed to have a minimum financial interest in share capital
of entrepreneurial enterprise:
a. 35 per cent
b. 51 per cent
c. 25 per cent
d. None of the above

16. Bankers say that most businesses fail because of the _________ inability to plan properly.
a) Investors
b) Marketers
c) Entrepreneurs
d) Consultants
17. Industry analysis should include information on:
a) Market size of competitor’s product
b) Growth rate of suppliers
c) New product entry
d) Economic conditions
18. What is the most common reason given for why people choose to become entrepreneurs?
a. To make a lot of money.
b. To escape the long hours associated with corporate jobs.
c. To be their own boss.
d. To be able to retire early.
19. _____ is the position of a firm on a continuum ranging from highly conservative to
highly entrepreneurial.
a. Risk tolerance
b. Entrepreneurial intensity
c. Inventiveness
d. Organizational bureaucracy
20. Some entrepreneurs report that the financial rewards associated with entrepreneurship can
be bittersweet if they are accompanied by ________.
a. modest upside potential
b. the thrill of starting a business
c. motivating factors
d. losing control of the firm
21. The entrepreneur was distinguished from capital provider in:

a) Middle ages
b) 18th century
c) 17th century
d) 19th and 20th century
22. 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
23. Entrepreneurs typically form
a) Service businesses
b) Manufacturing companies
c) Constructive companies
d) A variety of ventures
24. Which of the following is NOT a common myth about entrepreneurs?
a) Everyone has the potential to be an entrepreneur.
b) Entrepreneurs are born, not made.
c) Entrepreneurs are gamblers.
d) Entrepreneurs love the spotlight.
25. Influence on innovation and job creation best typifies entrepreneurial firms' ________.
a) Impact on society
b) Economic impact
c) Impact on larger firms
d) Impact on the environment
26. What do you call small firms that yield a level of income for their owner that is similar to
what they would earn when working for an employer?
a) sole proprietorship
b) small business
c) lifestyle firm
d) salary-substitute firm
27. The entrepreneurial process is comprised of each of the following steps EXCEPT:
a) Deciding to become an entrepreneur.
b) Inventing a new product or process.
c) Managing and growing the entrepreneurial firm.
d) Moving from an idea to an entrepreneurial firm.
28. We need to update the business plan because________
a) Environmental factors and internal factors can change the direction of the plan
b) Goals set by the entrepreneurs may be unreasonable
c) Goals may not be measurable
d) Goals may not be specific
29. From the following which one is not classification of entrepreneurs according to the types
of business?
a) Wholesale trade
b) Retail trade
c) Exporter
d) Rural entrepreneur
30. From the following which one is not classification of entrepreneurs according to the types
of business?
a) Wholesale trade
b) Retail trade
c) Exporter
d) Rural entrepreneur

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MCQS ON ENTREPRENEURSHIP DEVELOPMENT

1. An entrepreneur’s primary motivation for starting a business is

2. _______________ actions by an entrepreneur are most likely to contribute to creative

a) Development of a new product

d) Development of a new product

3. The resistance of employees in an organization against flexibility, growth, and

4. ______________ shows the process of creating something new.

a. Existing products and services

7. Having less than 50 percent of equity share in an international venture is called:

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

c. Act of stating a new venture

d. Offering new products by an existing company

c) Professional support network

a) Existing products and services

a) To see if there are possible barriers to success

b) To identify possible sources of funds

c) To estimate the expected sales

d) To explore potential customers

13. Entrepreneurs are_________

a. Moderate risk taker

b. High risk taker

14. EDP (Entrepreneurship Development Programmes) is required to help:

b. First generation Entrepreneurs

c. Future Generations Entrepreneurs

d. None of the above

d. None of the above

17. Industry analysis should include information on:

a) Market size of competitor’s product

b) Growth rate of suppliers

c) New product entry

a. To make a lot of money.

b. To escape the long hours associated with corporate jobs.

c. To be their own boss.

d. To be able to retire early.

a. modest upside potential

b. the thrill of starting a business

d. losing control of the firm

21. The entrepreneur was distinguished from capital provider in:

d) 19th and 20th century

23. Entrepreneurs typically form

24. Which of the following is NOT a common myth about entrepreneurs?

a) Everyone has the potential to be an entrepreneur.

b) Entrepreneurs are born, not made.

c) Entrepreneurs are gamblers.

d) Entrepreneurs love the spotlight.

c) Impact on larger firms

d) Impact on the environment

a) Deciding to become an entrepreneur.

b) Inventing a new product or process.

c) Managing and growing the entrepreneurial firm.

d) Moving from an idea to an entrepreneurial firm.

28. We need to update the business plan because________

b) Goals set by the entrepreneurs may be unreasonable

c) Goals may not be measurable

d) Goals may not be specific

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