NPTEL Online Certification Courses

Indian Institute of Technology Kharagpur

Entrepreneurship Essentials
Assignment- Week 0
TYPE OF QUESTION: MCQ/MSQ
Number of questions: 15 Total mark: 15 X 1 = 15
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QUESTION 1:
Who is the CEO of Alphabet?

a. Larry Page.
b. Sergey Brin
c. Sundar Pichai
d. Satya Nadella
Correct Answer: d
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Detailed solution
Sundar Pichai is the CEO of Aphabet Inc. and its subsidiary company Google Inc. Pichai is a graduate
from IIT Kharagpur. Larry Page and Sergey Brin are the founders of Google and also Aphabet. Mark
Zuckerberg is the founder and CEO of Facebook. Satya Nadella is the CEO of Microsoft Inc. Nadella
graduated from the Manipal Institute of Technology, Karnataka
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QUESTION 2:
What is a unicorn

a. A horse with a single large, pointed, spiraling horn projecting from its forehead.
b. A carriage drawn by four horses, two abreast and two leaders.
c. A startup with present valuation of US $1 billion or more.
d. A startup that has raised the series A round of funding.
Correct Answer: c

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A startup is characterized as unicorn when it’s valuation become US % 1 billion or more.
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 NPTEL Online Certification Courses
Indian Institute of Technology Kharagpur

QUESTION 3:
Which of the following companies raised the largest amount of funds in an IPO?

a. Nykaa - FSN E-Commerce Ventures Ltd

b. Paytm - One 97 Communications Ltd
c. Zomato Ltd.
d. Coal India Ltd.
Correct Answer: b

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Detailed solution

Paytm was India’s largest initial public offering that had raised Rs 18,300 crore from investors earlier on
November 8, 2021.
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QUESTION 4:
Which of the following statements is correct?
a. India has targeted GDP of US$ 5 trillion by the year 2024-25.
b. India has targeted GDP of US$ 4 trillion by the year 2024-25.
c. India has targeted GDP of US$ 5 trillion by the year 2029-30.
d. India has targeted GDP of US$ 3 trillion by the year 2022-23.
Correct Answer: a

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Detailed solution

In 2019, Prime Minister Narendra Modi envisioned to make India a USD 5 trillion economy and global
power house by 2024-25.

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Indian Institute of Technology Kharagpur

QUESTION 5:
Who owns Flipkart?

a. Binny Bansal.

b. Sachin Bansal

c. Walmart

d. Amazon.

Correct Answer: c

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Detailed solution

Flipkart was founded by Binny Bansal and Sachin Bansal, the two alumni of IIT Delhi. However, on May
04, 2018, Walmart took over the company by acquiring 77% of its equity for US$ 16 billion. Walmart is,
thus, the present owner of Flipkart.

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QUESTION 6:
Who of the following is the top philanthropist in India in terms of the amount of donation during 2020?

a. Mukesh Ambani
b. Shiv Nadar
c. Kumara Mangalam Birla
d. Azim Premjee

Correct Answer: d

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Azim Premjee donated ₹7,904 crore during 2020 translating to ₹22 crore every day and is the largest
donor or philanthropist in India. Shiv Nadar donating ₹790 crore stands second while Mukesh Ambani
with a donation of ₹ 458 crore stands third.

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Indian Institute of Technology Kharagpur

QUESTION 7:
What is Cryptocurrency?

a. A digital currency in which transactions are verified and records maintained by a

decentralized system using cryptography, rather than by a centralized authority.

b. A type of digital currency backed by gold reserves in which a record of transactions is

maintained and which operates independently of a central bank.

c. A type of coins made of an alloy of multiple precious metals, new units of which are
generated by the computational solution of mathematical problems.

d. Is a form of digital currency regulated by the World Bank.

Correct Answer: a

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Cryptocurrency is a form of digital or virtual currency in which transactions are verified and records
maintained by a decentralized system using blockchain technology or cryptography. And it is not
regulated by any centralized authority such as the central bank (RBI in India, Federal Reserve in the
USA). The blockchain is a distributed ledger enforced by a disparate network of computers.

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QUESTION 8:
What is quantum computing? Choose the most appropriate answer.

a. Quantum computer based on ten core i10 chip.

b. Quantum computer based on processors with billions of transistors.
c. Encode quantum information in bits that take the value of 1 or 0.
d. Is the use of quantum phenomena such as superposition and entanglement to perform
computation.
Correct Answer: d

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Detailed solution

Quantum computing is the use of quantum phenomena such as superposition and entanglement to
perform computation. Computers that perform quantum computations are known as quantum computers.
A quantum computer harnesses some of the almost-mystical phenomena of quantum mechanics to deliver
huge leaps forward in processing power. Quantum machines are to outstrip even the most capable of
today’s – and tomorrow’s – super computers.
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Indian Institute of Technology Kharagpur

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QUESTION 9:
Choose the correct construct about entrepreneurs. Entrepreneurs ________

a. Create wealth for themselves

b. Create wealth for the nation
c. Enhance consumption
d. Create jobs.
e. All of the above
Correct Answer: e

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Entrepreneurs identify opportunities in adversities where there is an unmet pain, a context that others do
not dare to venture into. They come up with an innovative solution with a superior value proposition and
minimize risk to create value for the customer and in the process create wealth for themselves and the
nation. They offer employment to citizens of a nation and the government earns a major part of the
income through this process. All the technological fruits we enjoy every moment have been possible only
because entrepreneurs made them.

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QUESTION 10:
Out of the following, where to raise the money from at the early stage of a startup?

a. The venture capitalists who fund businesses.

b. Angel investors who fund early-stage ventures and have a higher risk appetite.

c. Banks who are flushed with funds.

d. None of the above.

Correct Answer: b

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A venture capital firm has a lower risk appetite and usually invests large sums of money (to the tune of
tens of millions of dollars) in a venture. They usually prefer to fund somewhat matured startups, which
have demonstrated market acceptability of their product or service, have acquired some customers and the
business model is somewhat proven. Whereas, angels invest smaller sums and demonstrate a higher risk
appetite. Angel usually work with the founders to build the venture by investing small sums ranging
anything to about ₹ 5 crore. They may invest in companies that are yet to gain considerable traction.
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Indian Institute of Technology Kharagpur

Startups, usually, should not take a loan from banks since bank loan attracts a high rate of interest and has
a strict repayment schedule that would be difficult to comply with by most startup businesses.

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QUESTION 11:
Which of the following is correct?

a. Trading and holding of Cryptocurrency in India is legal

b. India is yet to legalize Cryptocurrency transactions.

c. Trading Cryptocurrency in India is a criminal offense.

d. Cryptocurrencies are being traded in Indian stock exchanges.

Correct Answer: b

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India is yet to legalize Cryptocurrency trading and holding. However, it is neither a criminal offense nor
is it traded in the stock market.

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QUESTION 12:
Satya Nadella is the

a. CEO of Facebook

b. CEO of Microsoft

c. CEO of Google

d. CEO of Apple

e. None of the above

Correct Answer: b

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Satya Nadella is the CEO of Microsoft.

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Indian Institute of Technology Kharagpur

QUESTION 13:
Factors of production are?

a. Land, labor, capital, and the government.

b. Land, labor, capital, and entrepreneurs.

c. Land, entrepreneurs, capital, and the government.

d. Entrepreneur, machinery, capital, and the government.

e. Materials, labor, capital, and entrepreneurs.

Correct Answer: b

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Land, labor, capital, and entrepreneur are the factors of production. Entrepreneurs use capital to put up
infrastructure (plant and machinery) on land and use the service of the labor, both skilled and unskilled, to
produce goods and services.

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QUESTION 14:
Name one of the founders of Google:

a. Mark Zuckerberg

b. Jeff Bezos

c. Sundar Pichai

d. Sergey Brin

e. Larry Gomes

Correct Answer: d

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Sergey Brin and Larry Page are the two co-founders of Google Inc.

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Indian Institute of Technology Kharagpur

QUESTION 15:
What is the difference between innovation and invention?
a. Innovation is creating a new product or service with novelties and making the same available to
people requiring them by putting in place all necessary infrastructure.
b. They are not different. Both means creating new technology.
c. Innovation is related to process technology, whereas invention is related to products.
d. Innovation means discovering new technologies, whereas, invention means evolving knowledge
with novelty.
Correct Answer: a

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Invention is the creation of new knowledge, technologies, processes, and many more.

Innovation is the process of turning an invention into commercial activity to make the benefits of the new
knowledge available to relevant parties and sustain it.

Creativity is the ability to invent and innovate.

On a different note:

Entrepreneurs identify opportunities in adversities where there is an unmet pain, a situation where others
do not dare to venture. They come up with innovative solution with superior value proposition and
minimize risk to create value for the customer and in the process create wealth for self and the nation.
They offer employment to citizens of a nation and the government earns major part of the income through
this process. All the technological fruits we enjoy every moment have been possible only because
entrepreneurs made them.

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