CUET Entrepreneurship MCQs Unit 1 Entrepreneurial Opportunity

Question. “Entrepreneurs take advantage of social net-working tools like social network websites and forums”.In the above line which trend is entrepreneur spotting?
a. Read trends
b. Talk trends
c. Think trends
d. None of these
Answer : B

Question. An individual who starts, creates and manages a new business can be called as _________________
a. A leader
b. A manager
c. A Professional
d. An entrepreneur.
Answer : D

Question. Arvind planned to start a small fast-food joint in his area after finishing his degree in hospitality management. His plan was to combine and use healthy ingredients like whole wheat flour to make the burger buns. He knew that he had to start collecting information from different sources which will help him to identify the right opportunity to start his business. From where will Arvind get the necessary information?
a. Magazines
b. Shows
c. Family Members
d. All of the above
Answer : D

Question. Needs of a person are:
a. Social
b. Physical
c. Psychological
d. All the above
Answer : D

Question. The term ‘Entrepreneur’ was derived from French word ____________
a. Enterpurpose
b. Enterprise
c. Enterprocedure
d. Enterprendre
Answer : D

Question. The idea generation process of entrepreneurship are ______________
a. Germination
b. Preparation
c. Incubation
d. All of these
Answer : D

Question. Which industrial sector promotes small-scale business &entrepreneurship and has low barriers to market entry?
a. Service
b. Manufacturing
c. Distribution
d. Agriculture
Answer : A

Question. Sudha started her small-scale business of making Pickles along with few of her neighbours using their free time at home. They named their venture ‘Home sweet Home’. They were able to supply the entire district. One of the members suggested that they should expand and start selling to other states. When she discussed the same to her husband, he suggested that they have to properly look into the environment analysing the competitors. He suggested Sudha to:
a. Formulate policies
b. Tap useful resources
c. Environment scanning
d. Image building
Answer : C

Question. Which of the following is not considered as one of the following blocksof the model entrepreneur?
a. Technical skills
b. Managerial competencies
c. Business competencies
d. Personal attributes
Answer : C

Question. “I really believe that entrepreneurship is about being able to face failure and succeed after failure”. Who said this?
a. Kiran Mazumdar Shaw
b. Ekta Kapoor
c. Dr. Swati Piramal
d. Aishwarya Nair
Answer : A

Question. The entrepreneur distinguished themselves from capital provider in __________________
a. Middle Ages
b. 17th Century
c. 18th Century
d. 19th Century
Answer : C

Question. Entrepreneurship leads to ..................... in GDP.
a. increase
b. decrease
c. both (a) and (b)
d. neither (a) nor (b)
Answer : A

Question. Victor industries has been one of the leading companies in Mobile phone industry in India. The company decided to launch a new Model AI 1 which will have in built latest software to encourage hands free use and enhance the customer experience through 3D photos. They are also looking into ideas to use eco-friendly recyclable materials for the body of the phone which will cause less environmental damage. Identify the two factors of PESTEL model from the above case study.
a. Economic, Social
b. Ecological, Technological
c. Legal, Economic
d. Social, Political
Answer : B

Question. Importance of Entrepreneurship includes _________________
a. Economic & dynamic activity
b. Innovation & Profit potential
c. Risk bearing
d. All of these
Answer : D

Question. Entrepreneurship is useful to the organization because of __________
a. Development of managerial capabilities
b. Creation of organization
c. Improving standard of living & economic development
d. All of these
Answer : D

Question. Which of these statements best describes the context forentrepreneurship?
a. Entrepreneurship takes place in small business
b. Entrepreneurship takes place in large business
c. Entrepreneurship takes place in a wide variety of context (small, medium & large)
d. Entrepreneurship takes place in social enterprises
Answer : C

Question. Ritu has completed her B.Tech. in textile designing. She wants to start a ready-made garments manufacturing unit. She wants to manufacture trendy garments for children below the age of one year. She approached a popular trend spotter to help her with the same. The trend spotter demanded ₹ 2,00,000 from Ritu to help her. Looking at the high fee demanded, she decided to do the trend spotting by herself. She decided to identify the trend by talking to the parents of the newly born. The method that Ritu adopted to spot the trend is:
a. Watch trends
b. Think trends
c. Talk trend
d. Read trend
Answer : B

Question. The application for registration of a small scale unit should be submitted to _________________
a. General Manager, DIC
b. Director, DIC
c. General Manager, NSIC
d. Director, NSIC
Answer : A

Question. “Winners never quit and quitters never win”. Who said this?
a. Kalpana Saroj
b. Harsh Bhaskar
c. Adam Smith
d. Vince Lombard
Answer : D

Question. Social behaviour is related with the:
a. Fulfilment of social obligations
b. Production of public goods
c. Ignorance of unethical behaviour
d. All of the above
Answer : D

Question. _____________ is the process through which individual perceives opportunities without regard to resources they possess.
a. Start-up Management
b. Entrepreneurship
c. Financial Analysis
d. Feasibility Planning
Answer : B

Question. The process of Entrepreneurship is divided into two parts & they are_________________
a. Idea Generation and Feasibility study
b. Innovation generation and Distribution Channel
c. Creativity and Development
d. Profit and Economic Development.
Answer : A

Question.  Which of the following consists of micro level business environment:
a. Political
b. Economic
c. Social
d. Customers
Answer : D

Question. What are 6 Cs that motivate entrepreneur to establish their ownbusiness are ________________
a. Change, challenge, creativity, control, curiosity and cash
b. Customer, challenge, creation, control, curiosity and cash
c. Contact, connect, conversation, consideration, consumption and community.
d. Commitment, culture, continuous, cooperation, customer and control
Answer : A

Question. Varun, a student of class XII, observed that a large number of students of the school were using mobile phones. he also observed that many parents of such students were worried about the content being viewed by their children on mobile phones and were not able to control them. Being a talented and an intelligent student he decided to develop an app that may help the parents to watch and control children regarding the content being viewed. From the following, identify the “idea field” used by Varun to develop the app:
a. Creative efforts
b. Trading related ideas
c. Market driven idea
d. Natural resources
Answer : A

Question. Entrepreneurial Guidance Bureau (EGB) was set up by
a. SISI
b. SIPCOT
c. IIC
d. SIDCO
Answer : C

Question. “Think big, Think fast, Think Ahead. Ideas are no one’s monopoly” is given by _________________
a. Azim Premjee
b. Mukesh Ambani
c. Vijay Mallya
d. Dhirajlal Hirachand Ambani
Answer : D

Question. The various sources of idea fields are:
a. Natural resources
b. Service related
c. Trading related
Answer : D

Question. The term Entrepreneur was first defined by Irish-French economist _____________
a. Richard William
b. Richard Cantillon
c. James Bernard
d. W.B. Gartner
Answer : B

Question. The feasibility study process of entrepreneurship are _____________
a. Illumination
b. Verification
c. Both (a) & (b)
d. None of these
Answer : C

Question. Entrepreneur perceives opportunity from:
a. Problems
b. Needs
c. Problems and needs
d. None of these
Answer : C

Question. Why are small business important to a country’s economy?
a. They give an outlet to entrepreneurs
b. They can provide specialist support to larger companies
c. They can be innovators of new product
d. All of these
Answer : D

Question. Which of the following source of idea fields provides important information to identify and analyze the market need, market size and competition.
a. Market or demand driven
b. Natural resources
c. Existing products or service
d. None of the above
Answer : A

Question. According to MSMEDC (Micro, Small & Medium Enterprises Development) Act 2006, Micro, Small & Medium Enterprise are classified into two classes such as ________________
a. Manufacturing & Service Enterprise
b. Automobile & Electronic Enterprise
c. Research & Development Sector
d. None of these
Answer : A

Question. “The best way to predict the future is to create it”, said by __________
a. F.W. Taylor
b. Flippo
c. Ruskin Bond
d. Peter F. Drucker
Answer : D

Question. Priya joined a Publication Company that publishes a monthly magazine “Lifestlye”. It covers articles related to fitness, clothing, gadgets, cooking etc., Priya had joined the clothing division of the magazine. her divisional head explained her nature of work of the division. She also informed Priya that in addition to visits to local mall she would have to attend ‘Power lunches’ on the first Monday of every month. Out of the following, identify the way of spotting trend, the divisional head is talking about?
a. Talk trends
b. Read trends
c. Watch trends
d. Think trends
Answer : C
 

CUET Entrepreneurship A Detail Concept of Entrepreneurship: Public and Private Sector MCQs

Question. Fiscal and monetary measures to stimulate investment in private & public sector includes ______________
a. Lowering the rate of interest
b. Tax reduction & Public Expenditure
c. Price policy & Abolition of monopoly
d. All of these
Answer : D

Question. __________________ are the informal associations of people who choose to come together to find ways to improve their living condition
a. NGO
b. Self-Help Groups
c. Private companies
d. None of these
Answer : B

Question. ‘Angels’ usually provides which type of financing?
a. Debt
b. Equity
c. Stock
d. None of these
Answer : B

Question. Entrepreneurs are __________________
a. Moderate risk takers
b. High risk takers
c. Avoidance
d. Both (a) & (b)
Answer : D

Question. Sustainability of entrepreneur development depends on factors like _______________
a. Technical skills
b. Technology
c. Organizational sustainability
d. All of these
Answer : D

Question. Characteristics of Self-Help Groups are _____________
a. SHG comprises 15-20 members & non-partisan in nature
b. Members should belong to same economic strata of society
c. Rational leadership should be encouraged for distribution of power
d. All of these
Answer : D

Question. Which of the following possible financing options has become a popular choice for entrepreneurs?
a. Angel investor
b. Credit cards
c. Venture capital
d. Public offering
Answer : B

Question. In terms of innovative business the five policy includes ____________
a. Private sources of funding, Debt financing, Venture capital, Business angels, subsidies and grants from governments
b. Equity shares, Preference shares, debentures, mutual fund and Insurance
c. Equity shares, private sources, preference shares, debentures and capital investment
d. None of these
Answer : A

Question. What are the policies that influence access to finance in context of Innovative entrepreneurship?
a. Debt financing
b. Venture capital
c. Business Angels
d. All of these
Answer : D

Question. High potential venture _______________
a. has the same growth potential as a life-style firm
b. starts out like life-style firm+
c. drawing interest of private investors only
d. None of these
Answer : D