Question 1

Which is the characteristic of entrepreneur?

Accepted Answer

A)  Innovators
B)  Risk takers
C)  Provider of resources
D)  High profit achievers
E)  All of these E

Question 2

Which is the concept of entrepreneurship as per "Thomas Begley" and David P Bogl?

Accepted Answer

A)  Need achievement
B)  Locus of control
C)  Tolerance for risk
D)  Tolerance for ambiguity
E)  All of these E

Question 3

Which is not a function of entrepreneur?

Accepted Answer

A)  To contribute to social development
B)  Production diversification
C)  Innovations
D)  Managing the enterprise
E)  All of these E

Question 4

Economic policy includes __________________________

Accepted Answer

A)  Export-import policy (EXIM policy) 
B)  Monetary policy
C)  Fiscal policy
D)  All of these
E)  None of these

Question 5

The characteristics of an entrepreneur include

Accepted Answer

A)  Versatility
B)  Profit orientation
C)  Independence
D)  Knowledge of market system
E)  All of these

Question 6

Which is the type of entrepreneurship?

Accepted Answer

A)  Large entrepreneurship
B)  Small entrepreneurship
C)  Centralized entrepreneurship
D)  Decentralized entrepreneurship
E)  All of these

Question 7

Which is the type of entrepreneur as per Clarence danhof?

Accepted Answer

A)  Innovative entrepreneur
B)  Imitative entrepreneur
C)  Fabian entrepreneur
D)  Drone entrepreneur
E)  All of these

Question 8

Economic environment consists of _____________________

Accepted Answer

A)  Economic planning
B)  Industrial policy
C)  Economic law
D)  Economic condition
E)  All of these

Question 9

Business environment includes _____________________

Accepted Answer

A)  Increase in the job
B)  Industrial development
C)  Development of communication
D)  Pre capita income
E)  All of these

Question 10

The external business environment consists of which component?

Accepted Answer

A)  Political environment
B)  Social environment
C)  Economic environment
D)  Technological environment
E)  All of these

Question 11

Which is not a objective of entrepreneurship?

Accepted Answer

A)  Minimum risk burden
B)  Establishing self sufficient society
C)  Maximize social problems
D)  Increasing employment opportunities
E)  All of these

Question 12

Which is the characteristic of a entrepreneur?

Accepted Answer

A)  Responsiveness to criticism
B)  Creativity
C)  Self confidence
D)  Energy
E)  All of these

Question 13

Which factor is responsible in development of entrepreneurship?

Accepted Answer

A)  Mechanism for identifying entrepreneurs
B)  Training and motivation system
C)  Development of entrepreneurial spirit
D)  Aptitude
E)  All of these

Question 14

Which is the mental quality of a entrepreneur?

Accepted Answer

A)  Hardworker
B)  Sharp memory
C)  Alertness
D)  Sharp mind
E)  All of these

Question 15

The legal environment includes ______________________________

Accepted Answer

A)  Indian contract act
B)  The partnership act
C)  Negotiable instrument act
D)  The sale of good act
E)  All of these

Question 16

Which of the element of the creative organization?

Accepted Answer

A)  Idea person
B)  Open communication
C)  Ad hoc devices
D)  Decentralized
E)  All of these

Question 17

Which is the business quality of an entrepreneur?

Accepted Answer

A)  Alertness of social responsibilities
B)  Knowledge of market conditions
C)  Ability to adjust changes
D)  Knowledge of national policy
E)  All of these

Question 18

Which is economic system?

Accepted Answer

A)  Capitalist system
B)  Socialism system
C)  Mixed economy(public & private) 
D)  All of these
E)  None of these

Question 19

The cultural environment includes ____________________________

Accepted Answer

A)  Religion
B)  Art
C)  Literature
D)  All of these
E)  None of these

Question 20

Which is the factors impending the growth of entrepreneurs

Accepted Answer

A)  Inadequate govt. facilities and incentives
B)  Lack of technical and training facilities
C)  Low expenditure on research and development
D)  Cultural vales
E)  All of these

Exam 3: Entrepreneurship: Types, Elements, and Objectives