| 21 |
The stage of the creative process in which a solution suddenly flashes in the mind is: |
Entrepreneurship
Creativity and innovation |
Easy |
| 22 |
Which statement correctly distinguishes creativity from innovation? |
Entrepreneurship
Creativity and innovation |
Easy |
| 23 |
A designer studies a problem deeply, then stops working on it for a few days while doing other tasks, after w… |
Entrepreneurship
Creativity and innovation |
Medium |
| 24 |
A company adds a longer-lasting battery to its existing model of mobile phone. This is an example of: |
Entrepreneurship
Creativity and innovation |
Medium |
| 25 |
According to Schumpeter's idea of innovation, which of the following counts as an innovation even though no n… |
Entrepreneurship
Creativity and innovation |
Hard |
| 26 |
The step in which clearly unsuitable ideas are eliminated before detailed study is called: |
Entrepreneurship
Selecting the right opportunity |
Easy |
| 27 |
Checking whether the required machinery and skilled workers are available is part of: |
Entrepreneurship
Selecting the right opportunity |
Easy |
| 28 |
Neha estimates the capital needed for a bakery and checks whether expected sales will cover costs with a reas… |
Entrepreneurship
Selecting the right opportunity |
Medium |
| 29 |
Which order of steps in selecting an opportunity is correct? |
Entrepreneurship
Selecting the right opportunity |
Medium |
| 30 |
Two ideas have equal market demand and equal expected profit. One needs skills the entrepreneur already has; … |
Entrepreneurship
Selecting the right opportunity |
Hard |
| 31 |
In which form of business organisation does a single owner bear unlimited liability and take all the profit? |
Entrepreneurship
Forms of business organisation |
Easy |
| 32 |
The feature of a company by which it continues to exist even if all its shareholders change is called: |
Entrepreneurship
Forms of business organisation |
Easy |
| 33 |
Meera wants to start a home tuition centre with very little capital, few legal formalities and full personal … |
Entrepreneurship
Forms of business organisation |
Medium |
| 34 |
In a partnership firm, any partner can bind the firm by acts done in the ordinary course of business. This fe… |
Entrepreneurship
Forms of business organisation |
Medium |
| 35 |
Three friends plan a venture that will need very large capital from many investors, and they want investors' … |
Entrepreneurship
Forms of business organisation |
Hard |
| 36 |
A written document describing a business, its goals and the strategies to achieve them is called a: |
Entrepreneurship
Business plan: concept and format |
Easy |
| 37 |
Which part of a business plan gives a short overview of the whole plan and is usually placed at the beginning? |
Entrepreneurship
Business plan: concept and format |
Easy |
| 38 |
Why is the executive summary often written after the other sections are complete? |
Entrepreneurship
Business plan: concept and format |
Medium |
| 39 |
Supporting documents such as market survey results and machinery quotations are usually placed in the: |
Entrepreneurship
Business plan: concept and format |
Medium |
| 40 |
An entrepreneur who already has enough personal savings says, "I do not need a business plan because I am not… |
Entrepreneurship
Business plan: concept and format |
Hard |