S.Y B.COM
SEMESTER - 4
ENTREPRENEURSHIP & SMALL BUSINESS MANAGEMENT
(ESBM)
MCQS - JANUARY 2012
(1) The word 'Entrepreneur' has been taken from the ______ language.
(a) Russian
(b) German
(c) French
(d) Japanese
(2) The term Entrepreneur was applied to business initially by _______
(a) J. B. Say
(b) Richard Cantillon
(c) Peter Drucker
(d) Knight
(3) Entrepreneurs emerging from within the confines of organization are called as —
(a) Intrapreneurs
(b) Entrepreneurs
(c) Extrapreneurs
(d) Interpreneurs
(4) Creating more _________ is one of the rules of 'Entrepreneurship.‘
(a) Health
(b) Wealth
(c) Recreation
(d) Comfort
(5) In the process of entrepreneurship financial, ______ & social risks are taken by an entrepreneur
(a) Psychological
(b) Physiological
(c) Geographical
(d) Demographical
(6) According to Economists
(a) An entrepreneur is a role performer and satisfies the wishes of the society
(b) An entrepreneur combines factors of production to achieve profit.
(c) An entrepreneur is a change agent
(d) An entrepreneur has leadership qualities for solving problem
(7) Joseph A. Schumpeter, assigned the role of __________to the entrepreneur.
(a) Innovation
(b) Organizer
(c) Risk-bearer
(d) High Achiever
(8) An entrepreneur is an advanced economy is an individual who introduces something new into the economy. This term was given by:
(a) David Ricardo
(b) J. S. Mill
(c) Alfred Marshall
(d) Joseph Schumpeter
(9) __________ mistakes of entrepreneurship results into business failure.
(a) Incorrect pricing
(b) Improper inventory
(c) Poor financial control
(d) All of the above
(10) The person who utilizes inventions & discoveries to make new combinations is called
(a) Inventor
(b) Motivator
(c) Investor
(d) Innovator
(11) If a person belonging to the developing country starts a business by imitating any technique of production from the developed economy, then he is called as ______
(a) Imitative Entrepreneur
(b) Innovative Entrepreneur
(c) Motivated Entrepreneur
(d) Modern Entrepreneur
(12) Which functions are performed by an entrepreneur from below given below list?
(a) Identify opportunity
(b) Assemble required resources
(c) Harvest the rewards in timely & flexible way.
(d) All the above
(13) Any one of the following is not true for an entrepreneur?
(a) Independent in his area of operation
(b) The required funds raised by him
(c) Transform an innovative idea into a profitable return by operating within the organizational environment,
(d) Transform an innovative idea in to a profitable venture by operating outside the organizational environment
(14) Innovation is the ______ of doing new things.
(a) Art
(b) Process
(C) Capacity
(d) Science
(15) ________ are exempted from copyright because there is no human creativity.
(a) Composition of matter
(b) Botanical creation
(c) Artistic figures
(d) Mathematical formulas
(16) A business arrangement where one party allows another party to use a business name arid sell its products or services is known as
(a) A Cooperative
(b) A Franchise
(c) An Owner-manager business
(d) A limited company
(17) Competitive Analysis includes
(a) Assess Competitor‘s strength & weaknesses
(b) Knowledge of competitor‘s actions
(c) Competitor‘s share of the market
(d) All of the above
(18) A new venture‘s business plan is important because
(1) It helps to persuade others to commit funding to the venture.
(2) Can help demonstrate the viability of the venture
(3) Provides a guide for business activities by defining objectives
(4) Forms a benchmark by which to assess performance
(a) 1 only
(b) 1 & 2 only
(c) 3 & 4 only
(d) 1, 2, 3 & 4
(19) Acquiring the use of equipment such as machinery without owning it is known as
(a) Leasing
(b) Hire purchase
(c) Factoring
(d) Acquisition
(20) Which type of business should prepare a business plan for a new venture
(a) Sole traders only
(b) Limited companies only
(c) All businesses
(d) Only those asked to by the bank
(21) The 'Market & Competitors‘ section of a business plan should not Contain
(a) A statement of tie target market
(b) The size of each market segment
(c) The key characteristics of buyers in each segment
(d) A description of product offering
(22) A business plan should be produced
(1) At a new business start-up
(2) As a part of on-going review
(3) When entrepreneur is faced with a major decision
(4) Every month
(a) 1 only
(b) 2 & 3 only
(C) 1, 2 & 3 only
(d) 4 only
(23) In some professional areas the business plan is referred to as a venture plan _____ Or an investment.
(a) Documentation
(b) A loan Proposal
(c) Development plan
(d) An organizational plan
(24) Harvest strategy includes
(a) Alternatives courses of action
(B) Transfer of asset
(c) Timing & Objectives
(d) Budgeting plans
(25) Working women having young kids, upon coming back after a hectic day, would like to dial and order services of Pizza Hut is an example of
(a) Lifestyle
(b) Personality
(c) Buyers readiness
(d) User status
(26) Innovation is the _____ of idea into a useful application.
(a) Creativity
(b) Implementation
(c) Process
(d) Transformation
(27) _______ method stimulates people to greater creativity by free wheeling to generate ideas.
(a) Brain storming
(b) Problem Inventory Analysis
(c) Focus group
(d) Creative Problem solving
(28) Brainstorming is the ________ methods of generating business ideas.
(a) Quantitative
(b) Creative
(C) Innovative
(d) Qualitative
(29) ______ of product and services is verification stage of creative process.
(a) Preparation
(b) Test Marketing
(c) Advertising
(d) Implementation
(30) Intellectual property is Important asset to be protected from _____ use...
(a) Illegal
(b) Regular
(c) Unauthorised
(d) Irregular
(31) _____is the technique which is similar to brain storming and is based on finding fault by asking the question in how many says can this idea fail
(a) Reverse Brainstorming
(b) Brain writing
(c) Checklist method
(d) Brain storming
(32) The person who utilizes inventions & discoveries to make new combinations is called
(a) Inventor
(b) Motivator
(c) investor
(d) Innovator
(33) If a person belonging to the developing country starts a business by imitating any technique of production from the developed economy, then he is called as _____
(a) Imitative Entrepreneur
(b) Innovative Entrepreneur
(c) Motivated Entrepreneur
(d) Modem Entrepreneur
(34) Which functions are performed by an entrepreneur from below given, list?
(a) Identify opportunity
(b) Assemble required resources
(c) Harvest the rewards in timely & flexible way
(d) All the above
(35) Any one of the following is not true for an entrepreneur?
(a) Independent in his area of operation
(b) The required funds raised by him
(c) Transform an innovative idea into a profitable return by operating within the organizational environment,
(d) Transform an innovative idea In to a profitable venture by operating outside the organizational environment.
(36) The creative people use their intellectual capacity, or collect information about problem or conduct laboratory experiments in any one stage of creativity process.
(a) Idea stage
(b) Product development stage
(c) Concept stage
(d) Test marketing stage
(37) ________ provides the actual sales results, which indicates the acceptance level of consumers
(a) Idea stage
(b) Product development stage
(c) Concept stage
(d) Test marketing stage
(38) Subconscious assimilation of information is done by the creative people reflect any one stage of creative process from below given options.
(a) Incubation
(b) Verification
(c) Illumination
(d) Preparation
(39) A _________ is a word, figure, numeral, design or a combination of these, used to identify and distinguish the goods and services or a business front those marketed by others.
(a) Patent
(b) Trademark
(c) Copyright
(d) process patent
(40) Which is the group method where individual provide information in a structured format a moderators leads a group through an open, in depth discussion rather than simply asking questions to solicit participant response.
(a) Focus Group
(b) Brainstorming
(c) Problem Inventory analysis
(d) Gordon method
(41) ______rationality is used harvest right brain creativity.
(a) Right-brain
(b) Brain
(c) Left brain
(d) All the above
(42) Anything that is patentable must be
(a) New & Useful
(b) Creative & Innovative
(c) Capable of Industrial Application
(d) New to the world
(43) Reproduction of a copyrighted work for criticism, comment, scholarship and classroom teaching is considered _______of copyright.
(a) Limitation
(b) Violation
(c) infringement
(d) Fair use
(44) The registration of trademarks is done under the trade mark Act of
(a) 1946
(b) 1948
(c) 1950
(d) 1958
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