Solved MCQs on Entrepreneurship .

1 The term entrepreneur came from:
a) Latin
b) French
c) English (UK)
d) none of the given option

2 The term entrepreneur is translated as:
a) between-giver
b) between-taker
c) receiver
d) giver

3 The period in which the money person entered into a contract with the go-between to sell his goods is known as :
a) middle aes
b) 18th century
c) 17th century
d) earliest period

4 ----------viewed the entrepreneur as a risk taker who “buy(s) at an uncertain price, therefore operating at a risk”
a) Eli Whitney
b) Edward hariman
c) Richard cantillon
d) Thomas Edison

5 a --------- is a professional money manager who makes risk investment from a pool of equity capital to obtain a high rate of return on investments
a ) venture capitalist
b) entrepreneur
c) businessman
d) buyer

6- In the ---------- century, the notion of an entrepreneur as an innovator was established.
a) 17th century
b) late 19th century
c) middle of the 20th century
d) 18th century

7-In almost all definitions of entrepreneurship there is agreement that we are talking about a kind of behavior that includes:
a) initiative taking
b the organizing and reorganizing or social/economic mechanisms to turn resources and situations to practical account.
c) the acceptance of risk or failure
d) all of the given option

---

1 There is not a concise, universally accepted definition of entrepreneurship.
A)True
B)False

2 Countries with cultures in which failure is viewed as a disgrace have a low rate of business formation.
A)True
B)False

3 Entrepreneurs are generally less educated than the general population.
A)True
B)False

4 Entrepreneurs have well-established internal ethics systems making them especially strong when encountering ethical dilemmas.
A)True
B)False

5 The growth of entrepreneurship can be easily promoted by Federal and State Governments.
A)True
B)False

6 Which of the following statements is (are) true?
A)Individuals who study entrepreneurship are three to four times less likely to start a business than students in other fields.
B)It is impossible for entrepreneurs to also be philanthropists.
C)Entrepreneurs are a relatively new phenomenon, emerging in the 17th century.
D)None of the above

7 Entrepreneurs take financial, _________, and ____________ risks.
A)psychological, social
B)psychological, environmental
C)social, environmental
D) none of the above

8 ___________________ is not a known pocket of entrepreneurial subculture.
A)New Orleans
B)Route 128 (Boston)
C)Silicon Valley
D)North Carolina Triangle

9 The "high-potential venture":
A)has the same growth potential as a life-style firm.
B)starts out like a life-style firm.
C)draws the interest of private investors only.
D)none of the above

10 Which of the following skills is needed by an entrepreneur?
A)technical skills
B)business management skills
C)personal entrepreneurial skills
D)all of the above

---

Q #1: The entrepreneur was distinguished from capital provider in:
A. Middle ages
B. 18th Century 
C. 17th century
D. 19th and 20th century.

Q #3: Most important factor in forming a new business is:
A. Finance
B. Marketing
C. Govt Support
D. Family Support

Q #4: Which one of the following is the process of entrepreneurs developing new
products that over time make current products obsolete?
A. Creative destruction
B. New business model
C. Anatomization
D. None of the given options

Q #5: The intersection of knowledge and a recognized social need to start a product
development process is called:
A. Iterative synthesis
B. Product-evolution process
C. Ordinary innovation
D. Situation analysis

Q #6: Which one of the following is the primary cause of failure in small businesses?
A. Poor financial control
B. Poor location
C. Management mistakes
D. Improper inventory control

Q #7: Which one of the following is the first step in the entrepreneurial process?
A. Developing successful business ideas
B. Deciding to become an entrepreneur
C. Growing the entrepreneurial firm
D. Moving from an idea to an entrepreneurial firm

Q #8: Which of the following is NOT included in the opportunity evaluation process?
A. Length of the opportunity
B. Real and perceived value of opportunity
C. Goals and objectives of customers
D. Risks and rewards of opportunity

Q #9: The resistance of employees in an organization against flexibility, growth, and
diversification can be overcome by developing:
A. Entrepreneurship
B. Intrapreneurship
C. Managerial domain
D. Administrative domain

Q #10: The entrepreneur’s_______________ depends on his perception of theopportunity.
A. Commitment to opportunity
B. Commitment of resources
C. Control of resources
D. Strategic orientation

Q #11: Which of the following statements about the entrepreneurial climate is (are) true?
A. Trial and error are discouraged
B. Resources of the firm need to be available and easily accessible
C. A multidisciplinary approach is discouraged
D. Failures are not allowed

Q #12: Which of the following makes the formation of new venture difficult within a corporate culture?
A. Lack of intrapreneurial talent
B. Lack of freedom to make autonomous decisions
C. Lack of market opportunity
D. All of the given options

Q #13: Which of the following factors has allowed small companies to act like they are big ones?
A. Competition
B. Economic development
C. Technology
D. Customers

Q #14: 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

Q #15: Being one’s own boss is a need of:
A. Independence
B. Achievement
C. Affiliation
D. Authority

Q #16: An individual’s need to be recognized is called:
A. Need for independence
B. Need for affiliation
C. Need of fame
D. Need for achievement

Q #17: Which one of the following factors does not affect a person for being an entrepreneur?
A. Family background
B. Education
C. Personal Values
D. Gender

Q #18: Female entrepreneurs differ from male entrepreneurs in terms of all of the following EXCEPT:
A. Motivation
B. Business skills
C. Departure point
D. Goal orientation

Q #19: Which of the following areas are preferred by women entrepreneurs?
A. Administration
B. Utilities
C. Manufacturing
D. None of the above

Q #20: Which one of the following is NOT TRUE about male entrepreneurs?
A. Males often have investors, bank loans, or personal loans in addition to personal funds
B. Males often have more experience in manufacturing, finance, or technical areas
C. Men are often more confident and less flexible and tolerant
D. Men usually list outside advisors as the least important supporters

---

1-Government can help in forming new venture by providing:
Select correct option:
Finance
Technology

Q #2: ___________ Process of creating incremental wealth is called Entrepreneurship.
A. Dynamic
B. Static
C. Continues
D. Systematic