Exam Questions: Course_Code: mgmt07: CourseName: Entrepreneurship

No Q.Code Question Description

QNo_1 E_AY23_Q012 Which of the following is not a way that entrepreneurs raise money to
start a business?
A. Personal savings
B. Borrow from a bnank
C. Issue stock
D. Collect taxes
Answer: Collect taxes
QNo_2 E_AY23_Q018 A stage in product life cycle characterized by low sales, few
competitors and high cost per consumer is ….
A. Decline stage
B. Maturity stage
C. Growth stage
D. Introduction stage
Answer: Introduction stage
QNo_3 E_AY23_Q16 The responsibility that a chemical firm has for safe disposal of its
waste is________
A. Moral responsibility
B. Ethical responsibility
C. Philanthropic responsibility
D. Legal responsibility
Answer: Legal responsibility
QNo_4 E_AY23_Q319 “A good product will sell itself― is saying is associated with.
A. Production philosophy
B. Product philosophy
C. Sales philosophy
D. Relationship marketing
Answer: Product philosophy
QNo_5 E_AY23_Q37 “A good product will sell itself― this saying is associated
with____
A. Production philosophy
B. Product philosophy
C. Sales philosophy
D. Relationship marketing
Answer: Product philosophy
QNo_6 E_AY23_Q44 gathering and analysis of data in order to determine such information
as who will buy the product and what price should be charged;
A. Marketing intelligence
B. Marketing plan
C. Marketing Research
D. Market testing
 Answer: Marketing Research
QNo_7 E_AY23_Q46 To be successful, a business must
A. produce goods or services that consumers want
B. produce goods instead of services
C. produce goods that are highly affordable
D. produce services instead of goods
Answer: produce goods or services that consumers want
QNo_8 E_AY23_Q49 Marketing activities to make product and services available near to
customer’s residence to increase customers’ satisfaction is
associated with ______ utility.
A. Time utility
B. Place utility
C. Form utility
D. Possession utility
Answer: Place utility
QNo_9 E_AY23_Q616 Which of the following is an example of an entrepreneurial mindset?
A. Fear of failure
B. Risk aversion
C. Opportunity recognition
D. Resistance to change
Answer: Opportunity recognition
QNo_10 E_AY23_Q72 Which of the following situations is most likely to result in long-term,
increased / profit for a business.
A. Raising the quality of its current products
B. Eliminating a slow-selling product line
C. Lowering the price of its current products
D. Constantly providing new choices for consumers to fit changing
needs
Answer: Constantly providing new choices for consumers to fit
changing needs
QNo_11 E_AY23_Q78 Which of the following is NOT a characteristic of a supportive
entrepreneurial environment?
A. Access to capital
B. High taxes and stiff regulations
C. Limited competition
D. Skilled workforce
Answer: High taxes and stiff regulations
QNo_12 E_AY23_Q99 From the following forms of business, one has a limited liability.
A. Sole proprietorship
B. Corporation
C. Partnership
D. Joint venture
Answer: Corporation