MODIBBO ADAMA UNIVERSITY OF TECHNOLOGY, YOLA

SCHOOL OF TECHNOLOGY AND SCIENCE EDUCATION

DEPARTMENT OF VOCATIONAL EDUCATION
2017/2018 SECOND SEMESTER EXAMINATION

COURSE TITLE: ENTREPRENEURSHIP & VENTURE MANAGEMENT (BSD 226)

COURSE UNIT: 2 UNITS TIME ALLOWED: 2 hours
INSTRUCTION: ANSWER ALL QUESTION TYPE: A

QUESTION:
1. An enterprise can be classified into a business enterprise and ________
(a) small businesses (b) organisation (c) corner shops (d) hotels
2. According to _______, entrepreneurs are innovating individuals.
(a) Drucker (b) Ogundele (c) Glueck (d) Kuratko and Hodgets
3. A business leader whose means of amassing a personal fortune contributes positively to the
country in some way is called a ________
(a) business mogul (b) business magnate (c) business expert (d) captain of industry
4. The theory that sees an entrepreneur as a man who perceives business opportunities is ______
(a) Economic theory (b) Ecological theory (c) Managerial theory (d) Managerial theory
5. Which of the following theories on entrepreneurship focuses on the operational skills?
(a) Operational theory (b) Managerial theory (c) Structural theory (d) Network theory
6. Which theory on entrepreneurship focuses on the social setting?
(a) Structural theory (b) Network theory (c) Innovation theory (d) Cultural theory
7. The multi-factor approach proposed that several rather than a _______ affect entrepreneurship
(a) resource (b) problem (c) single factor (d) challenge
8. The historical theory considers the effects of history on the following except _______
(a) Entrepreneur’s performance (c) emergence of entrepreneur
(b) Entrepreneur’s attitude (d) behaviour of entrepreneurs
9. The distinguishing features of an entrepreneur is also called ________ of entrepreneurs
(a) characteristics (b) history (c) successes (d) qualities
10. The types of risks facing an entrepreneur include the following except _______
(a) financial risk (b) career risk (c) personal risk (d) life risk
11. One of the following is not a dark characteristics of an entrepreneur
(a) risk (b) stress (c) Ego (d) Competition
12. Bright characteristics of an entrepreneur entail the following except ________
(a) desire for responsibility (b) organizing skill (c) perseverance (d) need for control
13. Kets de Vries classified the dark characteristics of an entrepreneur into the following except __
(a) need for control (b) sense of distrust (c) stress (d) desire for applause
14. Future orientation is a ______ characteristics of an entrepreneur
(a) bright (b) good (c) bad (d) dark
15. _______ is a great worry that causes difficult situation for entrepreneurs.
(a) competition (b) market analysis (c) risk (d) stress
16. To start small and finish big, one must be to do the following except _______
(a) positive (b) wait for opportunity (c) improve the business (d) be persistent
17. The entrepreneur that is driven by an emotional desire to address some of the big social and
economic conditions in the world.
(a) social (b) serial (c) skilled (d) lifestyle
18. The entrepreneur that places passion before profit is known as the ________ entrepreneur.
(a) social (b) serial (c) skilled (d) lifestyle
19. The history of entrepreneurship in Nigeria could be classified into ________
(a) three (b) four (c) two (d) five
20. In the olden days, entrepreneurs in Nigeria used to engage the services of ___ to assist with
their production.
 (a) employees (b) friends (c) colleagues (d) slaves
21. Private businesses started as a result of government ________
(a) inability to employ school leavers (c) change of policies
(b) Granting licenses to private businesses (d) provision of loans for private investors
22. One major factor that has affected the development of entrepreneurship in Nigeria is _____
(a) government (b) culture (c) formal education (d) society
23. Entrepreneurs can also start a business enterprise with an ________
(a) old concept (b) old idea (c) old enterprise (d) old industry
24. When an entrepreneur buys an existing business with little need for creativity is known as ___
(a) existing enterprise (b) existing concept (c) existing idea (d) existing industry
25. The factors to be considered in starting up a business include the following except ______
(a) the individual (b) cultural factors (c) societal issues (d) religious issues
26. Personal traits that drives an entrepreneur towards starting up a business include the following
except ____ (a) confidence (b) self-determination (c) self-moral (d) persistence
27. Tenacity despite failure as a personal traits of an entrepreneur means ________
(a) passion (b) persistence (c) initiative (d) being forward
28. Entrepreneurs should avoid being confident in their abilities or business idea.
(a) I agree (b) I disagree (c) Am not sure (d) No idea
29. _______ is essential to not only entrepreneurial business but to all facet of life.
(a) self-accomplishment (b) self-determination (c) self-courage (d) self-inspired
30. When changes occur in the society, an entrepreneur should see it as a business opportunity.
(a) False (b) True (c) Am not sure (d) No idea
31. An entrepreneur’s belief in his own abilities to perform a task is called ________
(a) creativity (b) self-efficacy (c) persistence (d) self-determination
32. Major advantages of an entrepreneurship include the following except _______
(a) feeling of achievement (b) autonomy (c) financial control (d) jack of all trades
33. One of the side effects of being an entrepreneur is _______
(a) personal sacrifices (b) financial capability (c) autonomy (d) healthy competition
34. Wealth creation is a role played by entrepreneurship in a/an ________
(a) market (b) school (c) economy (d) job
35. A small business is one that is ________ owned.
(a) dependently (b) jointly (c) independently (d) single handedly
36. Small businesses are characterized by their __________ in its field of operation.
(a) dormant (b) dormain (c) dormane (d) dominance
37. The key areas of identifying a small business are ownership, operations and scope of ______
(a) influence (b) area (c) expansion (d) capital
38. A transporter with two buses worth 5 million naira cannot be said to be dominant in
transportation business.
(a) I agree (b) I disagree (c) Am not sure (d) No idea
39. Business ownership majorly include the following except ________
(a) Proprietorship (b) principalship (c) partnership (d) incorporated company
40. Which is the odd one out?
(a) barber shop (b) dance theatre (c) photographer shop (d) soap making enterprises
41. Small manufacturing enterprises include the following except _________ enterprise.
(a) soap making (b) sachet water (c) shoe repair (d) exercise book
42. Lack of managerial skills is a disadvantage of small businesses.
(a) false (b) Am not sure (c) No idea (d) True
43. A business idea can be spotted from a _______
(a) casual situation (b) casual location (c) casual position (d) casual thought
44. One of the following is not a characteristic of a venture idea.
(a) market driven (b) market oriented (c) feasible (d) intellectual property
45. The uniqueness of a business idea include the following except _______
(a) faster (b) cheaper (c) better (d) longer
46. The following can be classified as durable goods except _______
(a) Building (b) Meat (c) Cars (d) Mobile phones
47. In the story of Frederick W. Smith, founder of FedEx, his professor graded him a ______ in his
term paper. (a) D (b) C (c) B (d) A
48. FedEx means _________
(a) Federick Express (b) Federal Express (c) Felix Express (d) Federation Express
49. _______ allows you to communicate your vision to the outside world to help you attract talent
and money. (a) good management (b) Believe (c) Business Idea (d) Business Plan
50. A business plan comprises of the following except ________
(a) business team (b) business summary (c) business strategy (d) business progress
51. In examining the surroundings as a source of business idea, one can consider the following
except _____ (a) market (b) education (c) personal life (d) work experience
52. Changes in legal and political factors can serve as a source of business idea.
(a) false (b) Am not sure (c) No idea (d) True
53. When an idea is first conceived by the entrepreneur either through observation or
brainstorming, it is referred to as a ________ source of business idea.
(a) external (b) primary (c) secondary (d) internal
54. External sources of business idea generation include the following except ________
(a) customers (b) competitors (c) Distributors (d) Consultants
55. One of the following is an internal source of generating business idea.
(a) Trade associations (b) Research (c) Magazines (d) Social Interaction
56. In a business plan, ________ allows you to answer how you will expand the business.
(a) business summary (b) market analysis (c) financial analysis (d) business strategy
57. One of the following is not discuss under business team in a business plan.
(a) Background of management team (c) Management and leadership principle
(b) Team’s salaries & allowances (d) Team’s previous successes
58. Which of the following aspect of a business plan explains how a business intends to survive in
the marketing world?
(a) Business Team (b) Market analysis (c) Strategy Information (d) Financial Information
59. Business summary in a business plan is also called _________ summary.
(a) executive (b) owner’s (c) conclusion and (d) idea
60. In the sample business plan given to you, the name of the proposed business was _______
(a) BIBI Entertainment (b) BB Entertainment (c) BBB Entertainment (d) B2 Entertainment
61. Intellectual property includes the following except _______
(a) copyrights (b) trademarks (c) patents (d) Idea management
62. Business niches that are currently under served in our areas can be a source of business idea.
(a) False (b) Am not sure (c) True (d) No idea
63. One hit wonder, as a business idea is very good for a new entrepreneur.
(a) False (b) Am not sure (c) No idea (d) True
64. Business ideas to avoid include the following except ideas on _______
(a) unfavourable markets (b) unfavourable industries (c) Blasphemy goods (d) Fashion
65. Studying a country’s population data can serve as a means of identifying business opportunities.
(a) No idea (b) True (c) False (d) Maybe
66. Knowledge derived from a Nation’s population data include the following except _______
(a) Death rate (b) Sex distribution (c) Job opportunities (d) Birth rate
67. Goods that are considered necessary to every member of a society are referred to as ______
(a) vitamins (b) essential goods (c) essence goods (d) special goods
68. Medical services is a good example of _________
(a) Durable goods (b) Non-durable goods (c) Essential goods (d) Medical goods
69. Goods that are purchased frequently are referred to as ________
(a) Non-durable goods (b) Needed goods (c) Essential goods (d) Compulsory goods
70. One of the following is not an example of perishable goods?
(a) Tomatoes (b) Bathing soap (c) Chairs (d) Recharge cards