Entrepreneurship Skills

The Indian School, Kingdom of Bahrain
Class 12 – ENTREPRENEURSHIP SKILLS - Practice Questions
Objective Type Questions:-
I. Choose the correct alternative

1. Entrepreneurs discover an idea to seize on an opportunity, mobilize money,
generate resources, and take calculated risks in order to expand the market or start
a new business for _____________.
a. Products
b. Processes
c. Services
d. All of the above
2. __________ is the ability to do something successfully and efficiently.
a. Initiative
b. Decisiveness
c. Competency
d. Both a) and c)
3. ___________ is a company that is in the first stage of its operations
a. Startup
b. Venture capital firms
c. Angel investors company
d. None of the above
4. Startup polices have been formulated by the _________.
a. Central Government
b. States
c. Company Law
d. State and Central
5. Entrepreneurship Development Program is to help
a. Well established business
b. First generation entrepreneurs
c. Employs of an organization
6. Who is considered the father of entrepreneurship?
a. Joseph Schumpeter
b. Paul Reynolds
c. Bill Gate
d. Elon musk
7. _________________ entrepreneurs either create a new market for their services

or provide a service in an existing market.
a. Service entrepreneurs
b. Business entrepreneurs
c. Industrial entrepreneurs
d. Agricultural entrepreneurs
8. ________________ entrepreneurs, who undertake business and trading activities

and are not concerned with the manufacturing work.
9. ______________ entrepreneur is, essentially, a manufacturer, who identifies the

needs of customers and creates products or services to serve them.
10. Agriculture has always been considered as a low-yielding entrepreneurship.

________ have now introduced new and innovative technology to maximize the
yield, giving birth to agriculture entrepreneurship.
11. Roshan works for Suresh, who is a businessman. Roshan is a ______________.
a) entrepreneur
b) Wage employed person
c) Skilled worker
d) Businessman
12. Sayed knows what business he wants to do but does not know what steps he
has to take to get it running. The barrier stopping him is _____________________.
a) Building the right team
b) Lack of plan
c) Risk taking
d) Self-doubt
13. The Industrial Revolution gave birth to ____________ entrepreneurs, who use
their technical expertise to create and offer machines, tools and methods.
a. Technical entrepreneurs
b. Non-technical entrepreneurs
c. Professional entrepreneurs
d. IT entrepreneurs
14. These entrepreneurs use their expertise in providing services to create a market
for ________ entrepreneurs.
d. IT entrepreneurs
15. People who take up entrepreneurship in the field of Information Technology

(IT) are called _________________ entrepreneurs.
d. IT entrepreneurs
16. Individuals, who focus on developing solutions that benefit the society, are
called _________ entrepreneurs.
c. Social entrepreneurs
d. IT entrepreneurs
17. When a family or an individual runs a business successfully and passes it onto
the next generation, then such an entrepreneur is, generally, termed as family
____________ entrepreneur.
c. Social entrepreneurs
d. Family business entrepreneurs
18. Who are the 5th generation entrepreneurs?
a. Different age group without any entrepreneurship background
b. An individual who starts at the age of 50 years without any entrepreneurship

background
c. Both a) and b)
19. ____________ comes up with an innovative idea. At the same time, they like
to get guidance and mentoring from an expert.
a. Startups
b. Customer
c. Both a) and b)
20. Salman tries new ideas as a tailor in a garment factory. Salman is a/an
______________.
a. Entrepreneur
b. Wage employed person
c. Laborer
d. Unskilled worker
21. Prashant works for Surabhi, who is a businesswoman. Prashant is an

____________.
a. Entrepreneur
b. Businessman
c. Skilled worker
d. Wage employed person
22. Mary believes that she will not have the ability to work with a team when she
starts her business. The barrier she is facing is _____________________.
a. getting capital
b. self-doubt
c. risk taking
23. Harish has a rug business in India. He wants to start exporting rugs to Canada
but does not know if they would sell there. The barrier he is facing is
_____________.
a. self-doubt
b. lack of plan
c. selecting the right business idea
24. The ability to continue to do something, even when it is difficult, is called

___________.
a. Initiative
b. Organizational skills
c. Perseverance
25. The ability to act in a situation before others do is ______________.
a. Interpersonal skills
b. Initiative
c. Perseverance
26. The ability to work with others is ______________.
a. Organizational skills
b. Interpersonal skills
c. Initiative
27. ________________ is the ability to make profitable and quick decisions.
a. Decisiveness
b. Initiative
c. Interpersonal Skills
d. Perseverance
28. That state of mental pressure or tension is called ___________.
a. Stress
b. Headache
c. Mental disturbed
29. Entrepreneurs are motivated by________________.
a. money
b. personal values
c. pull influences
d. All the above
30. Innovation can best be defined as _________________.
a. The generation of new ideas
b. The evolution of new ideas
c. The opposite of creativity
d. The successful exploitation of new ideas
31. Which of the following is the reason for business failure _________.
a. Lack of market research
b. poor financial control
c. poor management
d. All the above
32. An individuals who starts, creates and manages a new business can be called
_________
a. A leader
b. A manager
c. A professional
d. An entrepreneur
33. Which could provide an individual with the motivation to start a new business
venture?
a. The financial rewards
b. A desire to be independent
c. Risk taking
d. All the above

34. What is the purpose of a feasibility study for starting a new venture?
a. Exploring for potential customers
b. Estimate sales
c. To understand if there are any barriers to success
35. The process of creating something new is called ___________
a. Creative flexibility
b. Management
c. Business
d. Innovation
36. Who should be involved in preparing a firm’s business plan?
a. Accountant
b. Engineer
c. Entrepreneur
Subjective Based Questions:-
1. What are the main features of feasibility study?

2. Define an “Entrepreneur”.
3. Write down four two characteristics of entrepreneurship.
4. Identify four qualities of a successful entrepreneur and explain it.
5. Explain three types of entrepreneurs.
6. What is the quality that motivates an entrepreneur?
7. What do you mean by startup?
8. What is barrier? Identify and explain the barriers to entrepreneurship briefly.
9. What do you mean by attitude?
10. What is the difference between the wage employed person and
entrepreneur.
11.Draw the mind map of attitudes that make a successful entrepreneur.
12. What is competency?
13. Explain about the attitudes and competence of Perseverance and
Decisiveness with suitable example?

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The Indian School, Kingdom of Bahrain

Class 12 – ENTREPRENEURSHIP SKILLS - Practice Questions

Objective Type Questions:-

I. Choose the correct alternative

d. All of the above

2. __________ is the ability to do something successfully and efficiently.

3. ___________ is a company that is in the first stage of its operations

b. Venture capital firms

c. Angel investors company

d. None of the above

4. Startup polices have been formulated by the _________.

d. State and Central

5. Entrepreneurship Development Program is to help

a. Well established business

b. First generation entrepreneurs

d. None of the above

6. Who is considered the father of entrepreneurship?

7. _________________ entrepreneurs either create a new market for their services

8. ________________ entrepreneurs, who undertake business and trading activities

9. ______________ entrepreneur is, essentially, a manufacturer, who identifies the

10. Agriculture has always been considered as a low-yielding entrepreneurship.

11. Roshan works for Suresh, who is a businessman. Roshan is a ______________.

b) Wage employed person

a) Building the right team

15. People who take up entrepreneurship in the field of Information Technology

d. Family business entrepreneurs

18. Who are the 5th generation entrepreneurs?

a. Different age group without any entrepreneurship background

b. An individual who starts at the age of 50 years without any entrepreneurship

d. None of the above

d. None of the above

21. Prashant works for Surabhi, who is a businesswoman. Prashant is an

d. Wage employed person

c. selecting the right business idea

24. The ability to continue to do something, even when it is difficult, is called

25. The ability to act in a situation before others do is ______________.

26. The ability to work with others is ______________.

27. ________________ is the ability to make profitable and quick decisions.

28. That state of mental pressure or tension is called ___________.

d. None of the above

29. Entrepreneurs are motivated by________________.

30. Innovation can best be defined as _________________.

a. The generation of new ideas

b. The evolution of new ideas

c. The opposite of creativity

d. The successful exploitation of new ideas

a. Lack of market research

b. poor financial control

d. All the above

a. The financial rewards

d. All the above

a. Exploring for potential customers

c. To understand if there are any barriers to success

d. None of the above

35. The process of creating something new is called ___________

36. Who should be involved in preparing a firm’s business plan?

d. None of the above

Subjective Based Questions:-

1. What are the main features of feasibility study?

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