Entrepreneurship Development Set 14
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This set of Entrepreneurship Development (ED) Multiple Choice Questions & Answers (MCQs) focuses on Entrepreneurship Development Set 14
Q1 | Each of the following are ways to identify an opportunity EXCEPT:
- observing trends.
- solving a problem.
- trying out alternative uses of existing products.
- finding gaps in the marketplace.
Q2 | Entrepreneurs can recognize problems and find ways to solve them through each of the following EXCEPT:
- recognizing problems in emerging trends.
- identifying a currently available product or service and then building a business around a better version.
- framing a problem differently than it's been thought of before, and then proposing an appropriate solution.
- experiencing a problem in one's own life, and then realizing the solution represents a business opportunity.
Q3 | All of the following are characteristics shared by those who excel at recognizingopportunities EXCEPT:
- brainstorming.
- prior experience.
- entrepreneurial alertness.
- social contacts and ties with others.
Q4 | All of the following are suitable questions to ascertain Product/Service DesirabilityEXCEPT:
- Does it make sense?
- Is the product or service financially feasible?
- Is this a good time to introduce the product or service in the market?
- Are there any fatal flaws in the product or service's basic design or concept?
Q5 | All of the following are characteristics of attractive industries EXCEPT:
- the industry is young.
- the industry is fragmented.
- the industry is crowd
Q6 | _____ is conducted to determine whether a proposed business has sufficient management expertise, organizational competence, and resources to successfully launch its business.
- A marketing plan
- Financial feasibility analysis
- Industry/market feasibility analysis
- Organizational feasibility analysis
Q7 | Why is the executive summary perhaps the most important section of the business plan?
- This section of the plan provides in-depth discussion of the major trends in the industry in which the firm intends to compete.
- This section of the plan summarizes the firm's key executives.
- If this section of the plan fails to attract an investor's interest, he or she is unlikely to read the remainder of the plan.
- This section of the plan deals with the day-to-day operations of the company.
Q8 | Which of the following might be termed a disadvantage faced by the small business?
- Greater flexibility
- Greater ability to serve specialized markets
- Extreme personal commitment of the owner
- More personal service
Q9 | The financial assistance to small business provided by the Small Business Administration takes the form of:
- direct loans
- guidance in locating lenders
- loan guarantees
- assistance in filling out paperwork
Q10 | Key features of a well written business plan would include all of the following except:
- financial plan
- qualifications of the owner
- an analysis of the market
- a review of the advertising firms analyzed
Q11 | EDPs course contents contain ___________.
- General introduction to entrepreneurs.
- Motivation training.
- Managerial skills.
- All the above
Q12 | MSME is defined under which act?
- MSMED Act 2006
- MSMED Act 2001
- MSMED Act 1999
- MSMED Act 2004
Q13 | MSMEs are important for the Nation's Economy because they significantly contribute to
- Industrial Production
- Exports
- Employment
- All of the above
Q14 | Investment Limit of a Micro Enterprise under manufacturing sector does not exceed_____lakhs.
- 10
- 20
- 25
- 50
Q15 | The manufacturing enterprises are defined in terms of investment in ___________.
- Furniture
- Stock
- Plant & machinery
- None of these
Q16 | Which of the following is not considered while selecting the region?
- Law and order
- Price of land
- Availability of raw materials
- Proximity to the product market
Q17 | Which one of the following is the step involved in setting up a new enterprises?
- Creating a business plan
- Making a product choice
- Selecting the location
- Setting up infrastructure
Q18 | Which of the following is the key factor for choosing the type of financing?
- Availability of funds
- Assets of the venture
- Prevailing interest rates
- All of the given options
Q19 | Following is not involved in EDP
- Identification of entrepreneurs for training
- Selection of entrepreneurs for training
- Developing entrepreneurial capabilities
- Arranging infrastructural facilities
Q20 | The distinction between an "entrepreneur" and "small business owner" , if made, revolvesaround:
- really nothing; they are truly one and the same
- the Small Business Administration definitions
- whether the business is an Internet based one or not
- the risk taking or re-invention of a business vs. someone who "simply" starts a
Q21 | Which of the following is not a main element of the project management process?
- Estimation.
- Schedule.
- Monitor.
- Systems design.
Q22 | SBA stands for:
- Small business accountants
- Small business administration
- Small business adequacy
- Small business advisors
Q23 | EDPs course contents contains ___________.
- General introduction to entrepreneurs.
- Motivation training.
- Managerial skills.
- All the above
Q24 | EDII was developed by the
- Government of India
- State Government
- All India Financial Institutions
- Public sector banks
Q25 | NIESBUD was established in
- 1980
- 1983
- 1986
- 1989