CUET Entrepreneurship MCQs Unit 2 Entrepreneurial Planning

Question. An entrepreneurship primary motivation for starting a business is
a) To make money
b) To be independent
c) To be famous
d) To be powerful
Answer : B

Question. Which of the following shows the process of creating something new?
a) Business model
b) Modeling
c) Creative flexibility
d) Innovation
Answer : D

Question. The activity which occurs when the new venture is started is called -
a) Motivation
b) Business skills
c) Departure point
d) Goal orientation
Answer : C

Question. Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete?
a) New business model
b) Anatomization
c) Creative destruction
d) None of the given options
Answer : C

Question. Why should an entrepreneur do a feasibility study for starting a new venture
a) To identify possible sources of funds
b) To see if there are possible barriers to success
c) To estimate the expected sales
d) To explore potential customers
Answer : B

Question. EDP ( Entrepreneurship Development( Programmes) is required to help –
a) Existing entrepreneurs
b) First generations entrepreneurs
c) Future generation entrepreneurs
d) None of the above
Answer : C

Question. From the following which one is not classification of entrepreneurs according to the types of business?
a) Wholesale trade
b) Retail trade
c) Exporter
d) Rural entrepreneur
Answer : D

Question. The level at which an individual is viewed by society is called:
a) Financial status
b) Qualification
c) Social status
d) Achievement
Answer : C

Question. …………….. actions by an entrepreneur most likely to contribute to creative destruction.
a) Development of a new product
b) Take-over of a competitor
c) Issuing shares
d) Development of an organization
Answer : A

Question. Which of the following is used by entrepreneurs to acquire experience in an international market before making a major commitment?
a) Merger
b) Minority Interest
c) Joint venture
d) Majority interest
Answer : B

Question. Entrepreneurs are…………………………
a) Moderate risk taker
b) High risk taker
c) Avoidance
d) Both (B) & (C)
Answer : A

Question. Which one of the following is the most important characteristic of a successful business website?
a) Innovation
b) Speed
c) Graphics
d) Products
Answer : B

Question. We need to update the business plan because
a) Environmental factors and internal factors can change the direction of the plan
b) Goals set by the entrepreneurs may be unreasonable
c) Goals may not be measurable
d) Goals may not be specific
Answer : A

Question. Family business always interested to handover the change of his business to:
(a) Indian Administration Officers
(b) Professional Managers
(c) Next generation
(d) None of the above
Answer : C

Question. Having less than 50 percent of equity share in an international venture is called
a) Minority interest
b) Joint venture
c) Majority interest
d) Exporting
Answer : A

Question. Which of the following is alternatively called corporate venturing?
a) Entrepreneurship
b) Intrapreneurship
c) Act of stating a new venture
d) Offering new products by an existing company
Answer : B

Question. Industry analysis should include information on –
a) Market size of competitor’s product
b) Growth rate of suppliers
c) New product entry
d) Economic conditions
Answer : D

Question. A Micro Enterprise is an enterprise where investment in plant and machinery does not exceed (According to MSMED Act, 2006):
(a) Rs. 15 Lakh
(b) Rs. 20 Lakh
(c) Rs. 25 Lakh
(d) Rs. 30 Lakh
Answer : C

Question. ……………….. Shows the process of creating something new.
a) Innovation
b) Business model
c) Modeling
d) Creative flexibility
Answer : A

Question. What is the process by which individuals pursue opportunities without regard to resources they currently control?
a) Startup management
b) Entrepreneurship
c) Financial analysis
d) Feasibility planning
Answer : B