Entrepreneurship

3 of 4 sets

201. A spontaneous entrepreneur is one

A. who is motivated by others to start an enterprise
B. who is induced by governmental policy
C. who is motivated by psychological rewards
D. who has strong conviction and confidence in his in-born ability
Answer:D

202. According to Druckers, how many conditions have to be fulfilled for

systematic innovation
A. Three
o m
B. Four
. c
C. Five
te
D. Six
a
Answer:A
q M
c
M into supply.” This statement is given by:
203. “Entrepreneurs reacted to economic change, thereby becoming the economic
agents who transformed demand
A. Adam Smith
B. Cantillon
C. Evans
D. Peter F Drucker
Answer:A

204. John Stuart Mill observed the necessity of entrepreneurship in business for
economic development in
A. 1945
B. 1946
C. 1947
D. 1948
Answer:D
205. According to Clarence Danhof, types of entrepreneurs are
A. Two
B. Three
C. Four
D. Five
Answer:C

206. An entrepreneur is:

A. Risk-bearer
B. Organizer
C. Innovator
D. All of the above
Answer:D

207. Which of the following is not a Managerial function of entrepreneur?

A. Accounting
B. Organizing
C. Staffing
D. Planning
Answer:A

208. Innovation is considered as hallmark for an entrepreneur is the view held by;
A. Richard Cantillon
B. Peter Drucker
C. Joseph A Schumpter
D. David C.McClelland
Answer:C

209. The most suitable type of entrepreneur for a developing economy like India is:
A. Innovaive
B. Imitative
C. Fabian
D. Drone
Answer:B

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210. Which of the following is not a personal characteristic often found in an
entrepreneur?
A. self-confident
B. Independent
C. perceptive
D. follower
Answer:D

211. An individual who starts, creates and manages a new business can be called:
A. Leader
B. Manager
C. Entrepreneur
D. Professional
Answer:C

212. Role of entrepreneus includes:

A. Employment generation
B. Wealth creation & Poverty reduction
C. Rural Development
D. All of the above
Answer:D

213. Balanced regional development includes:

A. Economin and non-economic considerations
B. Economin consideration only
C. Non-economin consideration only
D. All of the above
Answer:A

214. An entrepreneurs plays an important role in:

A. Economic development
B. Political development
C. Religious development
D. None of the above
Answer:A

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215. “Entrepreneurship is an innovative function. It is leadership rather than
ownership,” was given by:
A. H N Pathak
B. Joseph A. Schumpeter
C. Peter F Drucker
D. H W Johnson
Answer:C

216. Many entrepreneurs fail due to

A. Lack of motivation
B. Lack of technical skills
C. Lack of business knowledge
D. All of the above
Answer:D

217. _________defines an entrepreneur as one, who always searches for change,

responds to it and exploits it as an opportunity
A. Richard Canilton
B. Peter F Drucker
C. Joseph Schumpeter
D. Henry Fayol
Answer:B

218. The term concept of entrepreneurship originated in

A. 18th century
B. 17th century
C. 16th century
D. 15th century
Answer:C

219. In relation to Indian Industries, entrepreneurship is

A. Necessary
B. Unnecessary
C. Burden
D. Wastage of time & money

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Answer:A

220. ___________shows the process of creating something new.

A. Innovation
B. Business model
C. Modeling
D. Creative flexibility
Answer:A

221. The goals should be ______for the success of business plan

A. Generalized
B. Specific
C. Limitless
D. Imaginary
Answer:B

222. The term concept of entrepreneurship originated in

A. 18th century
B. 16th century
C. 17th century
D. 15th century
Answer:A

223. In relation to Indian industries entrepreneurship is:

A. Necessary
B. Burden
C. Unnecessary
D. Wastage of time & money
Answer:A

224. Entrepreneur is:

A. Innovator
B. Problem solver
C. Risk taker
D. All of these

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Answer:D

225. An entrepreneur plays an important role in:

A. Economic development
B. Religious development
C. Political development
D. None of these
Answer:A

226. An entrepreneur is:

A. Born
B. Born & made both
C. Made
D. None of these
Answer:B

227. Entrepreneurs are helpful in bringing about:

A. Balanced industrial development
B. Unbalanced industrial development
C. Scattered industrial development
D. None of these
Answer:A

228. Entrepreneur in employment opportunities:

A. Increase
B. Decrease
C. Neither increase nor decrease
D. None of these
Answer:A

229. The first Industrial Policy Resolution 1948 was held during:
A. Pre-independence era
B. Swadeshi movement
C. Post-war period
D. Post-independence era

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Answer:D

230. Innovation theory first was given by:

A. David McClelland
B. Peter F. Drucker
C. Joseph A. Schumpeter
D. Richard Cantillon
Answer:C

231. David McClelland has introduced the theory of:

A. Need for Achievement
B. Innovation
C. Agent
D. Good Leadership Skills
Answer:A

232. From which Five Year Plan the moto was ‘an economy is the effect for which
entrepreneurship is the cause’:
A. 5th
B. 6th
C. 7th
D. 8th
Answer:B

233. „Entreprendre? is:

A. English language
B. Latin language
C. Russian language
D. French language
Answer:D

234. The characteristic of an entrepreneur is:

A. need to achieve
B. risk bearing capacity
C. optimist
D. all of the above

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Answer:D

235. Innovation means:

A. execution of new ideas
B. implementation of new ideas
C. operation of new ideas
D. separation of new ideas
Answer:B

236. Role of entrepreneur can be depicted

A. giving emphasis on village and cottage industries
B. starting big business
C. imitating other business
D. doing trading business
Answer:A

237. Entrepreneurship played a pivotal role in bringing social stability by:

A. maximising profit
B. increasing own wealth
C. alleviating of poverty
D. developing business
Answer:C

238. Dynamic entrepreneurship innovation theory was developed during

A. 1949
B. 1950
C. 1951
D. 1952
Answer:A

239. Thematic appreciation test is conducted by the

A. Mc Clelland
B. Young
C. Kinzner
D. Knight

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Answer:B

240. X-efficiency theory indicates the use of resources in terms of

A. efficiency
B. inefficiency
C. proper
D. improper
Answer:B

241. Most of EDPs have

A. Three phase
B. Four phase
C. Five phase
D. Six phase
Answer:A

242. The Khadi and Village industries commission was established in

A. April 1957
B. Sept 1957
C. Sept 1967
D. April 1987
Answer:A

243. The DICs programme was started by the central govt in

A. 1968
B. 1978
C. 1988
D. 1998
Answer:B

244. KVIC has launched common brand names for KVIC products in
A. July 2001
B. August 2001
C. September 2001
D. October 2001

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Answer:D

245. Rural industries consultancy services cell is set up under

A. DIC
B. Industries department
C. NABARD
D. KVIC
Answer:D

246. EDP implies:

A. Development of entrepreneurial ablilities
B. Development of business
C. Development of society
D. None of the above
Answer:A

247. National Bank for Agriculture and Rural Development initial is:
A. NBA
B. NABARD
C. BARD
D. None of the above
Answer:B

248. The Indian Institute of Entrepreneurship (IIE) was established in the year
A. 1989
B. 1998
C. 1993
D. 2002
Answer:C

249. Phases of EDP consist of

A. Pre-training phase
B. Training phase
C. Follow-up
D. All of the above

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Answer:D

250. According to Schumpeter?s Theory of Innovation, innovation involve:

A. New products
B. Opening of new market
C. New method of production
D. All of the above
Answer:D

251. DIC is the abbreviated form of

A. District Incubation Centre
B. Direct Innovation Centre
C. District Industries Centre
D. Non of the above
Answer:C

252. Objectives of Khadi and Village Industries Commission (KVIC):

A. Promote khadi in rural areas
B. Provide employment
C. Build Strong community
D. All of the above
Answer:D

253. The duration of an EDP is generally for a period of:

A. 3 Weeks
B. 4 Weeks
C. 5 Weeks
D. 6 Weeks
Answer:A

254. Entrepreneurship development institute of India was set up in

A. 1983
B. 1993
C. 1994
D. 1984

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Answer:A

255. Indian Institute of Entrepreneurship is situated at

A. Shillong
B. Imphal
C. Guwahati
D. Aizawl
Answer:C

256. It is the Apex banking institution to provide finance for Agriculture and rural
development.
A. SBI
B. IDBI
C. NABARD
D. EXIM
Answer:C

257. KVIC was established in

A. 1952
B. 1962
C. 1953
D. 1963
Answer:C

258. Entrepreneurial development programme provides

A. Self-employment
B. Increase in skills of entrepreneur
C. Education and Training
D. All of the above
Answer:D

259. EDPs course contents contains_______

A. General introduction to entrepreneurs
B. Motivation training
C. Managerial skills
D. All of the above

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Answer:D

260. The application for registration of a small scale unit should be submitted to
the___
A. General manager, DIC
B. Director, DIC
C. General Manager, NSIC
D. Director, NSIC
Answer:A

261. District Industries centers are located

A. in each district
B. in each state
C. only in selected districts
D. only in selected states
Answer:A

262. Who called entrepreneur an innovator?

A. Thomas Cochran
B. McClelland
C. Schumpeter
D. Everest Hagen
Answer:C

263. The fundamental of in entrepreneurship is:

A. Entrepreneurship development
B. Entrepreneurial disposition
C. Innovation
D. Profitable enterprise
Answer:B

264. Indian Institute of Entrepreneurship (IIE) is situated at

A. Shillong
B. Guwahati
C. Imphal
D. Aizawl

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Answer:B

265. The basic objective of EPD is:

A. Select product
B. Formulate the project
C. Acquire managerial skill
D. All of the above
Answer:D

266. Entrepreneurial development programme provides

A. Self-employment
B. Increase in the skills of entrepreneur
C. Education and training
D. All of the above
Answer:D

267. The functions and activities of DICs are monitored by:

A. The state Government
B. The central Government
C. Directorate of Industries and commerce
D. Ministry of Micro, Small and Medium Enterprises
Answer:C

268. KVIC is an apex organization under the:

A. Government of India
B. State Government
C. Ministry of Micro, Small and Medium Enterprises
D. Act of Parliament
Answer:C

269. Which of the following banks provide financial assistance to promote new
entrepreneurs?
A. IDBI
B. SBI
C. RBI
D. NABARD

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Answer:A

270. Entrepreneurship Development Programme (EDP) may be defined as:

A. Training Programme
B. Committee meeting
C. Community programme
D. Social service
Answer:A

271. The District Industries Centre (DIC) is the institution at the:

A. Central level
B. State level
C. District level
D. Block level
Answer:C

272. After completing all formalities, entrepreneurs should get permanent

registration before commencing the production from:
A. Directorate of Industries
B. Directorate of Trade and Commerce
C. Central Government
D. DICs
Answer:D

273. Indian Institute of Entrepreneurship (IIE), Guwahati is for

A. Eastern region
B. North Eastern region
C. Assam
D. Mizoram
Answer:B

274. The pilot project of NABARDfordigitisation of SHGs called

A. e-Shakti
B. e-Samriddhi
C. e-Shanti
D. e-Samraksha

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Answer:A

275. EDII is situated at

A. Delhi
B. Mumbai
C. Kolkata
D. Ahmedabad
Answer:D

276. NABARD is promoting an entrepreneurial culture among the:

A. urban youth
B. rural youth
C. city youth
D. metro youth
Answer:B

277. To be eligible under PMEGPthrough KVIC, the applicant?s age should be:
A. 25 and above
B. 20 and above
C. 18 and above
D. 30 and above
Answer:C

278. A project or a business undertaking especially a commercial one involving a

risk and uncertainty is called
A. an enterprise
B. a unit
C. a venture
D. an industry
Answer:A

279. The entrepreneur should ensure that the opportunity must be compatible with
A. fund availability
B. man power availability
C. ability to do
D. all above

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Answer:D

280. The basic purpose of economic analysis, resources should be valued in terms
of their
A. economic cost
B. production cost
C. price cost
D. opportunity cost
Answer:D

281. The financial plan for meeting the cost of the project depends on how
accurately estimated with
A. cost
B. technical know how
C. economic physibility
D. environmental opportunity
Answer:A

282. The investigation will help him to reach a conclusion as to the feasibility and
prospect of the whole proposal is depend on
A. discovery of an idea
B. preliminary investigation
C. detailed investigation
D. framing of plan
Answer:B

283. Internal environmental factor includes

A. number of workers
B. amount of investment
C. both a and b
D. none of the above
Answer:C

284. “Promotion is the discovery of business opportunities and subsequent

organisation of funds, property and managerial ability into a business concern for
the purpose of earning profit thereon.” this definition is given by:

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 A. C.W Gerstenberg
B. Elan R.K.N
C. Nick Mick
D. T.R Ming
Answer:A

285. Commercial exploitation of indigeneous or imported technology and knowhow

is another source of
A. product profile
B. project idea
C. market character
D. none of the above
Answer:B

286. Success of enterprise depends on:

A. Both entrepreneur and enterprise are good
B. Only entrepreneur is good
C. Only enterprise selection is suitable
D. All of the above.
Answer:A

287. Characteristics of Business environment include:

A. Complex and Dynamic
B. Multi-faceted and Far-reached impact
C. All of the above
D. None of the above
Answer:C

288. Dimensions of Business Environment consist of:

A. Economic & Social environment
B. Political & Legal environment
C. Technological environment
D. All of the above
Answer:D

289. In SWOT analysis Strength and weakness relates to:

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 A. Entrepreneur
B. Environment
C. All of the above
D. None of the above
Answer:A

290. Business or project ideas can be generated from:

A. Internal
B. External
C. Both Internal & External
D. None of the above
Answer:C

291. Selecting a project out of projects identified is called:

A. Referencing process
B. Zeroing in process
C. Picking process
D. Handling in process
Answer:B

292. In SWOT analysis Opportunities and Threats relates to:

A. Entrepreneur
B. Environment
C. All of the above
D. None of the above
Answer:B

293. Entrepreneurship development process includes:

A. Selecting potential targets
B. Choosing the right location
C. Tying up with Instituitions
D. All of the above
Answer:D

294. External environment factors are

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 A. Economic
B. Social
C. Technical
D. All of the above
Answer:D

295. Opportunity means a chance to do:

A. new things
B. old things
C. new and old things
D. None of the above
Answer:A

296. Which of the following is not the factor of internal environmental analysis?
A. Production
B. marketing
C. Competitive
D. Finance
Answer:C

297. Indirect –action elements of external environment includes:

A. Political
B. legal
C. Socio-cultural
D. All of the above
Answer:D

298. Internal environment is also called:

A. Specific environment
B. Micro environment
C. Both (a) and (b)
D. None of the above
Answer:C

299. Good sources of information for an entrepreneur about competitors can be

obtained from

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 A. Websites
B. Product information leaflets
C. Company reports and published accounts
D. All of the above
Answer:D

300. From the following which one is factor affecting entrepreneurial growth:
A. Social
B. Economic
C. Psychological
D. All of the above
Answer:D

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