ENTREPRENEURSHIP

Class – XII

WS-MCQ

Dated: 30th April 202

MULTIPLE CHOICE QUESTIONS

Question No: 1. Which of the following shows the process of creating something
new?

a) Business model

b) Modeling

c) Creative flexibility

d) Innovation

Question No: 2. Which one of the following gives suggestions for new product and
also help to market new products?

a) Existing products and services

b) Federal government

c) Distribution Channels

d) Consumers

Question No: 3.Which of the following is used by entrepreneurs to acquire

experience in an international market before making a major commitment?

a) Merger

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b) Minority Interest

c) Joint venture

d) Majority interest

Question No: 4. GATT is established in 1947, under:

a) German leadership

b) U.S. leadership

c) French leadership

d) U.K. leadership

Question No: 5. The entrepreneur was distinguished from capital provider in:

a) Middle ages

b) 17th century

c) 18th century

d) 19th and 20th century

Question No: 6. What is the process by which individuals pursue opportunities

without regard to resources they currently control?

a) Startup management

b) Entrepreneurship

c) Financial analysis

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d) Feasibility planning

Question No: 7. Having less than 50 percent of equity share in an international

venture is called:

a) Joint Venture

b) Majority interest

c) Minority interest

d) Exporting

Question No: 8. having more than 50% ownership position that provides the
entrepreneur with managerial control are called:

a) Joint venture

b) Majority interest

c) Horizontal merger

d) Diversified activity merger

Question No: 9. 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

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Question No: 10 . 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

Question No: 11. 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

Question No: 12. Individuals influencing an entrepreneur’s career choice and style
are known as which of the following?

a) Moral-support network

b) Role model

c) Professional support network

d) Support system

Question No: 13 .The activity which occurs when the new venture is started is
called:
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a) Motivation

b) Business skills

c) Departure point

d) Goal orientation

Question No: 14 . The level at which an individual is viewed by society is called:

a) Financial status

b) Qualification

c) Social status

d) Achievement

Question No: 15 .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

Question No: 16. 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

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c) They do not bother if entrepreneur bears a loss

d) They have well-developed sales force

Question No: 17. Which one of the following is the most important characteristic
of a successful business website?

a) Innovation

b) Speed

c) Graphics

d) Products

Question No: 18. 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

Question No: 19. SBA stands for:

a) Small business accountants

b) Small business administration

c) Small business adequacy

d) Small business advisors

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Question No: 20. Why should an entrepreneur do a feasibility study for starting a
new venture

a) To identify possible sources of funds

b) To see if there are possible barriers to success

c) To estimate the expected sales

d) To explore potential customers

Question No: 21. Information regarding all of the following is related to

operations, EXCEPT:

a) Location

b) Promotion

c) Raw materials

d) Labor skills

Question No:22. A performance and credit rating scheme has been launched by
the MSME Ministry to assess creditworthiness and capabilities of industries in the
sector. What is it called?

(a) Performance and Credit Rating Scheme

(b) Zero Defect Zero Effect Certification

(c) Performance and Economy Rating Scheme

(d) None of the above

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Question No: 23. 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

Question No: 24. EDP (Entrepreneurship Development Programmes) is required to

help:

(a) Existing entrepreneurs

(b) First generation entrepreneurs

(c) Future generations entrepreneurs

(d) None of the above

Question No: 25. A corporate managers who starts a new initiative for their
company which entails setting up a new distinct business unit and board of
directors can be regarded as?

(a) Ecopreneur

(b) Technopreneur

(c) Intrapreneur

(d) Social Entrepreneur

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Question No: 26 .A women entrepreneur is supposed to have a minimum financial
interest in share capital of entrepreneur’s enterprise:

(a) 35 per cent

(b) 51 per cent

(c) 25 per cent

(d) None of the above

Question No: 27. Family businesses always interested to handover the change of
his business to:

(a) Indian Administration Officers

(b) Professional Managers

(c) Next generation

(d) None of the above

Question No: 28 .A corporate managers who starts a new initiative for their
company which entails setting up a new distinct business unit and board of
directors can be regarded as?

(a) Ecopreneur

(b) Technopreneur

(c) Intrapreneur

(d) Social Entrepreneur

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Question No: 29 .Venture capital is concerned with:

(a) New project having potential for higher profit

(b) New project of high technology

(c) New project having high risk

(d) All the above.

Question No 30. In real life, entrepreneurs are those that…

a) Robbers that exploit their workers

b) Generate business success

c) Generate business success through hard and long hours of work

d) Robbers that exploit their workers and generate business success

Question No 31. The definition of entrepreneurship holds the promise of….

a) Financial difficulties and hardship

b) Limited expansion

c) Growth, unlimited expansion and long-term financial gain

d) Growth, expansion and long term financial gain

Question No 32.The terms entrepreneur and owner manager is used

interchangeable and describes a person that…

a) Manages a small business

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b) That starts up a small business

c) That starts up and manages a small business

d) All above statements are incorrect

Question No 33.Entrepreneurship can be defined as…

a) The act of initiating, creating, building, expanding and sustaining a venture and
gathering The necessary resources to exploit an opportunity in the marketplace
for long-term wealth and capital gain

b) The act of creating, building, expanding and sustaining a venture, building an

entrepreneurial team and gathering the necessary resources to exploit an
opportunity in the marketplace for long-term wealth and capital gain

c) The act of initiating, creating, building, expanding and sustaining a venture,

building an entrepreneurial team and gathering the necessary resources to
exploit an opportunity in the marketplace for long-term wealth and capital gain

d) The act of initiating, creating, building, building an entrepreneurial team and

gathering the necessary resources to exploit an opportunity in the marketplace for
long-term wealth and capital gain

Question No 34. A basic survivalist is…

a) This person operates as an entrepreneur to survive for the first three months
after setting up a business.

b) This person operates as an entrepreneur to survive until he or she obtains an

entrepreneurial opportunity

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c) This person operates as an entrepreneur to survive until he or she obtains a
formal sector job or entrepreneurial opportunity

d) This person operates as a small business manager until he or she obtains a

formal sector job or entrepreneurial opportunity.

Question No 35. A Pre-entrepreneur is…

a) Involved in welfare-based entrepreneurship where profit maximization is less

important than the collective

b) Involved where profit maximization is less important than the collective

c) Involved in welfare-based entrepreneurship

d) Involved in welfare-based entrepreneurship for profit maximization only

Question No 36. A subsistence entrepreneur is…

a) Involved in dependent income-generating activities operating as a small-scale

vendor

b) Involved in independent income-generating activities operating as a small-

scale vendor

c) Involved in independent income-spending activities operating as a small-scale

vendor

d) Involved in independent income-generating activities operating as a large-scale

vendor

Question No 37. A Micro entrepreneur is….

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a) A formal-sector entrepreneur with zero to 10 employees

b) A formal-sector entrepreneur with 1 to 10 employees

c) A formal-sector entrepreneur with zero to 15 employees

d) A formal-sector entrepreneur with 1 to 15 employees

Question No 38. A small-scale entrepreneur is ….

a) A formal-sector entrepreneur with 11 to 50 employees

b) A formal-sector entrepreneur with 11 to 49 employees

c) A formal-sector entrepreneur with 16 to 49 employees

d) A formal-sector entrepreneur with 16 to 50 employees

Question No 39. Entrepreneurial companies are different from small business

companies in that they…

a) Are innovative and growth driven

b) Are not creating jobs for themselves but are wealth driven

c) Create wealth that is sustainable for future generation to come

d) All of the above

Answer Key: 1(d), 2(c), 3(b), 4(b), 5(c), 6(b), 7(c), 8(b), 9(d), 10(b), 11(b), 12(b),

13(c), 14(c), 15(b), 16(b), 17(b), 18(c), 19(b), 20(b), 21(c), 22(a), 23(c), 24(b), 25(c),

26(c), 27(c), 28(c), 29(a) 30(c )31(d) 32( d)33(c )34(c )35(a )36(b )37(a )38(b )39(d)

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