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1. Which of the following is the most underutilized source of information and idea generation?

Options:

A. Libraries

B. Incubation centers

C. Internet

D. Experts

Correct Option: B. Incubation centers

2. Business plan provides details about:

Options:

A. Planning of a business

B. Concept of a business

C. Demerits of a business

D. Merits of a business

Correct Option: A. Planning of a business

3. Which of the following is a rich and most used source of information?

Options:

A. Libraries

B. Internet

C. Experts

D. Incubation centers

Correct Option: B. Internet

4. In ________________________, an entrepreneur sees the problem or gap and an opportunity to
create a business and fills the gap.

Options:

A. Internally stimulated ventures

B. Joint ventures

C. Concept based business

D. Concept based business

Correct Option: C. Concept based business

5. Which of the following is an internal beneficiary of a business plan document?

Options:

A. Potential employees

B. Potential investors

C. Potential customers

D. Potential customers

Correct Option: A. Potential employees

6. In ________________, demand and supply regulates the market instead of the government.

Options:

A. Command economic system

B. Mixed economic system

C. Free market system

D. Hybrid economic system

Correct Option: C. Free market system

7. Business idea then business plan then business practice is the right sequence.

Correct Option: False

8. Without the need for conscious reasoning?

 Options:

A. Brainwriting

B. None of the given options is correct

C. Intuition

D. Intuition

Correct Option: C. Intuition

9. Business plan and business idea are different from each other.

Correct Option: True

10. A complex business is likely to have a very short business plan.

Correct Option: False

1. The “Competition” section within an NABC framework discusses the tools and mechanisms to fulfill
the needs of the target customers.

Options:

- False (Correct)

- True

2. Business plan then business idea then business practice is the correct sequence.

Options:

- False (Correct)

3. Business idea is about the concept of a business.

Options:

- True (Correct)

4. Product value and packaging-related attributes are best discussed in the “Need” section of an NABC
framework.
 Options:

- False (Correct)

5. The selection of digital media as a tool for marketing campaigns is a prime attribute of the “Approach”
section of an NABC framework.

Options:

- False (Correct)

6. Which of the following sections of an NABC framework features the decision about the selection of
media type for the marketing campaign of the business?

Options:

- Competition

- Approach (Correct)

- Benefits

- Need

7. The length of a business plan is dependent on:

Options:

- Number of employees

- Amount of the investment

- Number of customers

- Nature of business competition (Correct)

8. Which of the following sections of a business plan is a glimpse of the whole document?

Options:

- Management plan

- Executive Summary (Correct)

- Appendix

- Table of contents
9. A scientific business plan covering all the strategic components is termed as:

Options:

- Skeleton business plan

- Formal business plan (Correct)

- Major business plan

- Informal business plan

10. Business plan provides details about:

Options:

- Demerits of a business

- Planning of a business

- Merits of a business

- Concept of a business (Correct)

These are the correct options for each of the 10 MCQs above.
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