SECTION A: MULTIPLE CHOICE QUESTIONS

INSTRUCTIONS: Answer ALL questions in the question paper.

1. The following are characteristics of an entrepreneur, EXCEPT:

A. Goal-oriented behaviour
B. Personal initiatives
C. Fiction-based actions
D. Opportunistic behaviour
2. Deals with the external factors that affect a potential entrepreneurs lifestyle
The above statement refers to which school of thought?
A.
B.
C.
D.

Environment school of thought

Capital school of thought
Displacement school of thought
Venture opportunity school of thought

3. Which of the following is NOT a benefit of entrepreneurship?

A. Reap unlimited profits
B. Complete responsibility
C. Reach your full potential
D. Create own destiny
4. The entrepreneur has not made it but he will, no matter the cost
The statement above refers to which type of entrepreneur?
A.
B.
C.
D.

The research entrepreneur

The accomplished entrepreneur
The sceptical entrepreneur
The determined entrepreneur

5. The first step in the creative process is ________________________.

A. The incubation process
B. The idea experience
C. Knowledge accumulation
D. Evaluation and implementation
6. The last step in the innovation process is ___________________.
A. Implement ideas
B. Challenge colleagues to suggest creative solution
C. Begin with a problem
D. Develop ideas

7. Occurs when a gap or a difference exist between expectations and reality

The above statement refers to which source of innovation?
A.
B.
C.
D.

Process needs
Incongruities
Industry and market changes
Unexpected occurrence

8. Mass production became commonplace, competition increase, little unfulfilled demand

The statement above refers to which concept?
A.
B.
C.
D.

The sales concept

The marketing concept
The advertising concept
The production concept

9. The following are benefits of a business plan, EXCEPT:

A.
B.
C.
D.

Creates opportunity for success

Reduce the stakeholders confidence
Determines the companys performance
Determines the right way of managing business

10. Which of the following is NOT a myth of entrepreneurship?

A. Entrepreneurs are always inventors
B. Entrepreneurs are born, not made
C. All entrepreneurs need is money
D. Entrepreneurs are thinkers