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: D

QUESTION:
1. 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
2. External sources of business idea generation include the following except ________
(a) customers (b) competitors (c) Distributors (d) Consultants
3. One of the following is an internal source of generating business idea.
(a) Trade associations (b) Research (c) Magazines (d) Social Interaction
4. Intellectual property includes the following except _______
(a) copyrights (b) trademarks (c) patents (d) Idea management
5. 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
6. _______ is a great worry that causes difficult situation for entrepreneurs.
(a) competition (b) market analysis (c) risk (d) stress
7. The first step to setting up a small business is to ________
(a) earn a few pennies (b) begin with an idea (c) keep the faith (d) think like a visionary
8. 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
9. Tenacity despite failure as a personal traits of an entrepreneur means ________
(a) passion (b) persistence (c) initiative (d) being forward
10. Entrepreneurs should avoid being confident in their abilities or business idea.
(a) I agree (b) I disagree (c) Am not sure (d) No idea
11. ________ 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
12. 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
13. An entrepreneur’s belief in his own abilities to perform a task is called ________
(a) creativity (b) self-efficacy (c) persistence (d) self-determination
14. Major advantages of an entrepreneurship include the following except _______
(a) feeling of achievement (b) autonomy (c) financial control (d) jack of all trades
15. The following are types of entrepreneur except ________ entrepreneur
(a) social (b) serial (c) skilled (d) lifestyle
16. The entrepreneur that is driven by an emotional desire to address some of the big social and
economic conditions in the world is called a _______ entrepreneur.
(a) social (b) serial (c) skilled (d) lifestyle
17. 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
18. Business ideas to avoid include the following except ideas on _______
(a) unfavourable markets (b) unfavourable industries (c) blasphemy goods (d) fashion
19. Studying a country’s population data can serve as a means of identifying business opportunities.
(a) No idea (b) True (c) False (d) Maybe
20. Knowledge derived from a Nation’s population data include the following except _______
(a) Death rate (b) Sex distribution (c) Job opportunities (d) Birth rate
21. Future orientation is a ______ characteristics of an entrepreneur
 (a) bright (b) good (c) bad (d) dark
22. The history of entrepreneurship in Nigeria could be classified into ________
(a) three (b) four (c) two (d) five
23. Early entrepreneurship in Nigeria started with _______
(a) money (b) trade by barter (c) producers (d) the white men
24. 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
25. One of the side effects of being an entrepreneur is _______
(a) personal sacrifices (b) financial capability (c) autonomy (d) healthy competition
26. The key areas of identifying a small business are ownership, operations and scope of ______
(a) influence (b) area (c) expansion (d) capital
27. The uniqueness of a business idea include the following except _______
(a) faster (b) cheaper (c) better (d) longer
28. 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
29. 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
30. 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
31. Medical services is a good example of _________
(a) Durable goods (b) Non-durable goods (c) Essential goods (d) Medical goods
32. Goods that are purchased frequently are referred to as ________
(a) Non-durable goods (b) Needed goods (c) Essential goods (d) Compulsory goods
33. Modern entrepreneurship in Nigeria can be trace to the _______
(a) colonial master (b) trade by barter (c) Arab merchants (d) Government intervention
34. One major factor that has affected the development of entrepreneurship in Nigeria is _____
(a) government (b) culture (c) formal education (d) society
35. Entrepreneurial _______ refers to how an enterprise is been started by an entrepreneur.
(a) behaviour (b) process (c) character (d) innovation
36. _______ is when an entrepreneur develops a new product and builds a business around it.
(a) New Industry (b) New Idea (c) New Concept (d) New Enterprise
37. Entrepreneurs can also start a business enterprise with an ________
(a) old concept (b) old idea (c) old enterprise (d) old industry
38. When an entrepreneur buys an existing business with little need for creativity or innovation is
known as ________
(a) existing enterprise (b) existing concept (c) existing idea (d) existing industry
39. 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
40. 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
41. 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
42. One of the following is not an example of perishable goods?
(a) Tomatoes (b) Bathing soap (c) Chairs (d) Recharge cards
43. The following can be classified as durable goods except _______
(a) Building (b) Meat (c) Cars (d) Mobile phones
44. 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
45. FedEx means _________
(a) Federick Express (b) Federal Express (c) Felix Express (d) Federation Express
46. 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
47. 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
48. N 10, 000 can start up the following businesses except ________
(a) paper production (b) pay phone center (c) pure water distribution (d) street hawking
49. In the past, the dividing line between a small business and big business is _____ employees.
(a) 10 (b) 30 (c) 50 (d) 100
50. Business ownership majorly include the following except ________
(a) proprietorship (b) principalship (c) partnership (d) incorporated company
51. Which is the odd one out?
(a) barber shop (b) dance theatre (c) photographer shop (d) soap making enterprises
52. A business plan comprises of the following except ________
(a) business team (b) business summary (c) business strategy (d) business progress
53. Small manufacturing enterprises include the following except _________ enterprise.
(a) soap making (b) sachet water (c) shoe repair (d) exercise book
54. One of the following is not an advantage of small business
(a) ease of entry (b) ease of exit (c) low capital (d) Adequate technology
55. Lack of managerial skills is a disadvantage of small businesses.
(a) false (b) Am not sure (c) No idea (d) True
56. A business idea can be spotted from a _______
(a) casual situation (b) casual location (c) casual position (d) casual thought
57. One of the following is not a characteristic of a venture idea.
(a) market driven (b) market oriented (c) feasible (d) intellectual property
58. _______ 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
59. Business summary in a business plan is also called _________ summary.
(a) executive (b) owner’s (c) conclusion and (d) idea
60. An enterprise is set up for the following purposes except to_______
(a) provide income (b) create jobs (c) be busy (d) develop economy
61. According to _______, entrepreneurs are innovating individuals.
(a) Drucker (b) Ogundele (c) Glueck (d) Kuratko and Hodgets
62. A business _________ can also be referred to as a capitalist, tycoon, oligarch or mogul.
(a) magnate (b) mogul (c) person (d) expert
63. 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
64. The theory that is concerned with the influence of environment on business startup is ______
(a) Environment theory (b) Ecological theory (c) Managerial theory (d) Political theory
65. Which theory on entrepreneurship focuses on the social setting?
(a) Structural theory (b) Network theory (c) Innovation theory (d) Cultural theory
66. The multi-factor approach proposed that several rather than a _______ affect entrepreneurship
(a) resource (b) problem (c) single factor (d) challenge
67. The distinguishing features of an entrepreneur is also called ________ of entrepreneurs
(a) characteristics (b) history (c) successes (d) qualities
68. The types of risks facing an entrepreneur include the following except _______
(a) financial risk (b) career risk (c) personal risk (d) life risk
69. One of the following is not a dark characteristics of an entrepreneur
(a) risk (b) stress (c) Ego (d) Competition
70. Financial information in a business plan provides the following information on the following
except ________
(a) budget (b) projected expenses (c) how funds will be raise (d) what material to buy