ENTREPRENEURSHIP
Class – XII
WS-MCQ
Dated: 30th April 202
MULTIPLE CHOICE QUESTIONS
Question No: 1. Which of the following shows the process of creating something
new?
a) Business model
b) Modeling
c) Creative flexibility
d) Innovation
Question No: 2. Which one of the following gives suggestions for new product and
also help to market new products?
a) Existing products and services
b) Federal government
c) Distribution Channels
d) Consumers
Question No: 3.Which of the following is used by entrepreneurs to acquire
experience in an international market before making a major commitment?
a) Merger
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b) Minority Interest
c) Joint venture
d) Majority interest
Question No: 4. GATT is established in 1947, under:
a) German leadership
b) U.S. leadership
c) French leadership
d) U.K. leadership
Question No: 5. The entrepreneur was distinguished from capital provider in:
a) Middle ages
b) 17th century
c) 18th century
d) 19th and 20th century
Question No: 6. What is the process by which individuals pursue opportunities
without regard to resources they currently control?
a) Startup management
b) Entrepreneurship
c) Financial analysis
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d) Feasibility planning
Question No: 7. Having less than 50 percent of equity share in an international
venture is called:
a) Joint Venture
b) Majority interest
c) Minority interest
d) Exporting
Question No: 8. having more than 50% ownership position that provides the
entrepreneur with managerial control are called:
a) Joint venture
b) Majority interest
c) Horizontal merger
d) Diversified activity merger
Question No: 9. Which one of the following is the process of entrepreneurs
developing new products that over time make current products obsolete?
a) New business model
b) Anatomization
c) None of the given options
d) Creative destruction
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Question No: 10 . Which of the following factors is the most important in forcing
U.S companies to focus on new product development and increased productivity?
a) Entrepreneurship
b) Hyper competition
c) Governmental laws
d) Organizational culture
Question No: 11. Which of the following is alternatively called corporate
venturing?
a) Entrepreneurship
b) Intrapreneurship
c) Act of stating a new venture
d) Offering new products by an existing company
Question No: 12. Individuals influencing an entrepreneur’s career choice and style
are known as which of the following?
a) Moral-support network
b) Role model
c) Professional support network
d) Support system
Question No: 13 .The activity which occurs when the new venture is started is
called:
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a) Motivation
b) Business skills
c) Departure point
d) Goal orientation
Question No: 14 . The level at which an individual is viewed by society is called:
a) Financial status
b) Qualification
c) Social status
d) Achievement
Question No: 15 .Which one of the following is an important source of idea
generation due to their familiarity with the needs of market?
a) Existing products and services
b) Distribution channels
c) Federal government
d) Consumers
Question No: 16. Members of distribution channels are excellent sources for new
ideas because:
a) They earn a handsome profit from new business
b) They are familiar with the needs of the market
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c) They do not bother if entrepreneur bears a loss
d) They have well-developed sales force
Question No: 17. Which one of the following is the most important characteristic
of a successful business website?
a) Innovation
b) Speed
c) Graphics
d) Products
Question No: 18. Which one of the following is the next stage to the Concept Stage
of Product Planning and Development Process?
a) Idea Stage
b) Product Planning Stage
c) Product Development Stage
d) Test Marketing Stage
Question No: 19. SBA stands for:
a) Small business accountants
b) Small business administration
c) Small business adequacy
d) Small business advisors
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Question No: 20. Why should an entrepreneur do a feasibility study for starting a
new venture
a) To identify possible sources of funds
b) To see if there are possible barriers to success
c) To estimate the expected sales
d) To explore potential customers
Question No: 21. Information regarding all of the following is related to
operations, EXCEPT:
a) Location
b) Promotion
c) Raw materials
d) Labor skills
Question No:22. A performance and credit rating scheme has been launched by
the MSME Ministry to assess creditworthiness and capabilities of industries in the
sector. What is it called?
(a) Performance and Credit Rating Scheme
(b) Zero Defect Zero Effect Certification
(c) Performance and Economy Rating Scheme
(d) None of the above
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Question No: 23. A Micro Enterprise is an enterprise where investment in plant
and machinery does not exceed (According to MSMED Act, 2006):
(a) Rs. 15 Lakh
(b) Rs. 20 Lakh
(c) Rs. 25 Lakh
(d) Rs. 30 Lakh
Question No: 24. EDP (Entrepreneurship Development Programmes) is required to
help:
(a) Existing entrepreneurs
(b) First generation entrepreneurs
(c) Future generations entrepreneurs
(d) None of the above
Question No: 25. A corporate managers who starts a new initiative for their
company which entails setting up a new distinct business unit and board of
directors can be regarded as?
(a) Ecopreneur
(b) Technopreneur
(c) Intrapreneur
(d) Social Entrepreneur
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Question No: 26 .A women entrepreneur is supposed to have a minimum financial
interest in share capital of entrepreneur’s enterprise:
(a) 35 per cent
(b) 51 per cent
(c) 25 per cent
(d) None of the above
Question No: 27. Family businesses always interested to handover the change of
his business to:
(a) Indian Administration Officers
(b) Professional Managers
(c) Next generation
(d) None of the above
Question No: 28 .A corporate managers who starts a new initiative for their
company which entails setting up a new distinct business unit and board of
directors can be regarded as?
(a) Ecopreneur
(b) Technopreneur
(c) Intrapreneur
(d) Social Entrepreneur
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Question No: 29 .Venture capital is concerned with:
(a) New project having potential for higher profit
(b) New project of high technology
(c) New project having high risk
(d) All the above.
Question No 30. In real life, entrepreneurs are those that…
a) Robbers that exploit their workers
b) Generate business success
c) Generate business success through hard and long hours of work
d) Robbers that exploit their workers and generate business success
Question No 31. The definition of entrepreneurship holds the promise of….
a) Financial difficulties and hardship
b) Limited expansion
c) Growth, unlimited expansion and long-term financial gain
d) Growth, expansion and long term financial gain
Question No 32.The terms entrepreneur and owner manager is used
interchangeable and describes a person that…
a) Manages a small business
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b) That starts up a small business
c) That starts up and manages a small business
d) All above statements are incorrect
Question No 33.Entrepreneurship can be defined as…
a) The act of initiating, creating, building, expanding and sustaining a venture and
gathering The necessary resources to exploit an opportunity in the marketplace
for long-term wealth and capital gain
b) The act of creating, building, expanding and sustaining a venture, building an
entrepreneurial team and gathering the necessary resources to exploit an
opportunity in the marketplace for long-term wealth and capital gain
c) The act of initiating, creating, building, expanding and sustaining a venture,
building an entrepreneurial team and gathering the necessary resources to
exploit an opportunity in the marketplace for long-term wealth and capital gain
d) The act of initiating, creating, building, building an entrepreneurial team and
gathering the necessary resources to exploit an opportunity in the marketplace for
long-term wealth and capital gain
Question No 34. A basic survivalist is…
a) This person operates as an entrepreneur to survive for the first three months
after setting up a business.
b) This person operates as an entrepreneur to survive until he or she obtains an
entrepreneurial opportunity
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c) This person operates as an entrepreneur to survive until he or she obtains a
formal sector job or entrepreneurial opportunity
d) This person operates as a small business manager until he or she obtains a
formal sector job or entrepreneurial opportunity.
Question No 35. A Pre-entrepreneur is…
a) Involved in welfare-based entrepreneurship where profit maximization is less
important than the collective
b) Involved where profit maximization is less important than the collective
c) Involved in welfare-based entrepreneurship
d) Involved in welfare-based entrepreneurship for profit maximization only
Question No 36. A subsistence entrepreneur is…
a) Involved in dependent income-generating activities operating as a small-scale
vendor
b) Involved in independent income-generating activities operating as a small-
scale vendor
c) Involved in independent income-spending activities operating as a small-scale
vendor
d) Involved in independent income-generating activities operating as a large-scale
vendor
Question No 37. A Micro entrepreneur is….
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a) A formal-sector entrepreneur with zero to 10 employees
b) A formal-sector entrepreneur with 1 to 10 employees
c) A formal-sector entrepreneur with zero to 15 employees
d) A formal-sector entrepreneur with 1 to 15 employees
Question No 38. A small-scale entrepreneur is ….
a) A formal-sector entrepreneur with 11 to 50 employees
b) A formal-sector entrepreneur with 11 to 49 employees
c) A formal-sector entrepreneur with 16 to 49 employees
d) A formal-sector entrepreneur with 16 to 50 employees
Question No 39. Entrepreneurial companies are different from small business
companies in that they…
a) Are innovative and growth driven
b) Are not creating jobs for themselves but are wealth driven
c) Create wealth that is sustainable for future generation to come
d) All of the above
Answer Key: 1(d), 2(c), 3(b), 4(b), 5(c), 6(b), 7(c), 8(b), 9(d), 10(b), 11(b), 12(b),
13(c), 14(c), 15(b), 16(b), 17(b), 18(c), 19(b), 20(b), 21(c), 22(a), 23(c), 24(b), 25(c),
26(c), 27(c), 28(c), 29(a) 30(c )31(d) 32( d)33(c )34(c )35(a )36(b )37(a )38(b )39(d)
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