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This set of Entrepreneurship Development (ED) Multiple Choice Questions & Answers (MCQs) focuses on Entrepreneurship Development Set 13

Q1 | . describes the direction, the enterprise is going in, what its goals are, where it wants to be,and how it is
  • project report
  • technical anlaysis
  • market analysis
  • financial analysis
Q2 | A business arrangement where one party allows another party to use a business Name and sell its products or services is known
  • A cooperative.
  • A franchise
  • An owner-manager business
  • A limited company
Q3 | Innovation can best be defined as_______.
  • the generation of new ideas.
  • the evolution of new ideas.
  • the opposite of creativity.
  • the successful exploitation of new ideas.
Q4 | Which of these statements best describes the context for entrepreneurship?
  • Entrepreneurship takes place in small businesses.
  • Entrepreneurship takes place in large businesses.
  • Entrepreneurship takes place in a wide variety of contexts.
  • Entrepreneurship does not take place in social enterprises.
Q5 | Entrepreneurship can best be described as _________.
  • a process that requires setting up a business.
  • taking a significant risk in a business context.
  • having a strong vision.
  • a process involving innovation, new products or services, and value creation.
Q6 | Entrepreneurial development is the key to achieve all-round ---------------- through acceleration of industrial and entrepreneurial activities.
  • economic development
  • increase in profits
  • shareholders value
  • business development
Q7 | According to sociological approach, entrepreneurship
  • Process of sensitivity
  • Process of role performance
  • Process of economic change
  • All of these
Q8 | Which of the following attitudes Is not generally associated with successfulentrepreneurship :
  • Competition and co-operation
  • Desire to influence others
  • Innovation and product improvement
  • Status quo in business
Q9 | The function of entrepreneur are:
  • To imagine a business idea
  • To study project feasibility
  • To setup enterprise
  • All the above
Q10 | Which of the following sentence is not a characteristic of entrepreneurship:
  • Risk taking
  • Innovation
  • Creative activity
  • Managerial training
Q11 | An entrepreneur is:
  • Born
  • Made
  • Bom and made both
  • All of these
Q12 | Which of the following sentence is inconsistent in the context of entrepreneur:
  • He is owner of the business
  • He is risk taker
  • He operates production activities
  • He searches out business opportunities
Q13 | Maslow’s Hierarchy of needs theory is governed by the fact that:
  • People are universally motivated by needs
  • People are socially motivated by needs
  • People are politically motivated by needs
  • None of the above
Q14 | In under developed countries, local mobile phone companies use the same technology used by big companies to manufacture their products. Which of the following type of Entrepreneurs is highlighted above:
  • Trading Entrepreneurs
  • Imitative Entrepreneurs
  • First generation Entrepreneurs
  • Innovative Entrepreneurs
Q15 | All but which of the following is considered to be a myth associated with entrepreneurship?
  • Successful entrepreneurs are born not made
  • First ventures are always successful
  • All entrepreneurs must willingly invest significant sums of money
  • Successful entrepreneurs must have a break-through invention
Q16 | Entrepreneurial culture and growth orientation consists of all of the following except:
  • Encouraging employees to generate ideas
  • Focusing on opportunities.
  • The desire to grow at a slow and controlled pace.
  • Being creative.
Q17 | Intrapreneurship often takes the form of
  • A semi-autonomous group (e.g. an internal venture team), operating within the overarching structure of the parent organization.
  • A spinout venture from a university to commercial a new invention.
  • A subsidiary of a large corporation developing a new product.
  • A semi-autonomous group operating outside the overarching structure of the parent organization.
Q18 | A ______________ is a professional money manager who makes risk investment from apool of equity capital to obtain a high rate of return on investments.
  • venture capitalist
  • entrepreneur
  • businessman
  • buyer
Q19 | A business plan is important for all of the following reasons EXCEPT:
  • a business plan forces a firm's founders to systematically think through each aspect of their new venture.
  • a business plan provides lenders and investors assurance that they will earn a decent return.
  • a business plan provides an investor with something to react to.
  • a business plan is a selling document that enables a company to present itself to potential suppliers and business partners.
Q20 | A new venture's business plan is important because ______.
  • It helps to persuade others to commit funding to the venture.
  • Can help demonstrate the viability of the venture.
  • Provides a guide for business activities by defining objectives.
  • All the above.
Q21 | To provide financial assistance to entrepreneurs the government has set up a number of___________.
  • financial advisors.
  • financial intermediaries.
  • Industrial estates.
  • financial institutions.
Q22 | _____________ can be defined as a specifically evolved work plan densed to achieve a Specific objective within a specific period of time
  • Idea generation.
  • Opportunity Scanning.
  • Project.
  • Strategy
Q23 | _____________ is used to accomplish the project economically in the minimum availabletime with limited resources
  • Project Scheduling.
  • Network Analysis.
  • Budget Analysis.
  • Critical Planning
Q24 | ______________ is a form of financing especially for funding high technology, high riskand Perceived high reward projects
  • Fixed capital.
  • Current capital.
  • Seed capital.
  • Venture capital.
Q25 | _____ is a favorable set of circumstances that creates a need for a new product, service, orbusiness.
  • A niche
  • A venture
  • A trend
  • An opportunity