| 1 |
Which statement best describes an entrepreneurial opportunity? |
Entrepreneurship
Sensing opportunities |
Easy |
| 2 |
The ability of an entrepreneur to notice opportunities that others overlook is called: |
Entrepreneurship
Sensing opportunities |
Easy |
| 3 |
Ritu notices that students in her town travel 40 km to buy engineering drawing instruments because no local s… |
Entrepreneurship
Sensing opportunities |
Medium |
| 4 |
Why is "timing" considered part of an opportunity? |
Entrepreneurship
Sensing opportunities |
Medium |
| 5 |
An entrepreneur has a brilliant idea for a gadget, but the cheapest possible production cost is far above wha… |
Entrepreneurship
Sensing opportunities |
Hard |
| 6 |
In SWOT analysis, which two elements relate to the external environment? |
Entrepreneurship
Environment scanning |
Easy |
| 7 |
Environment scanning should ideally be: |
Entrepreneurship
Environment scanning |
Easy |
| 8 |
A rising number of working couples in cities increases demand for ready-to-cook food. Under which environment… |
Entrepreneurship
Environment scanning |
Medium |
| 9 |
A small electronics firm has a highly skilled repair team. In its SWOT analysis this should be listed as a: |
Entrepreneurship
Environment scanning |
Medium |
| 10 |
A packaging firm learns that the government plans to ban certain single-use plastics. For a firm making paper… |
Entrepreneurship
Environment scanning |
Hard |
| 11 |
During a brainstorming session, the main rule while ideas are being generated is: |
Entrepreneurship
Problem identification and idea fields |
Easy |
| 12 |
A business that makes pickles and jams from fruits grown in nearby orchards draws its idea mainly from the id… |
Entrepreneurship
Problem identification and idea fields |
Easy |
| 13 |
Arjun observes that elderly people in his colony find it hard to pay utility bills online. He starts a doorst… |
Entrepreneurship
Problem identification and idea fields |
Medium |
| 14 |
Which of the following is an example of an idea drawn from existing products? |
Entrepreneurship
Problem identification and idea fields |
Medium |
| 15 |
Why is a precise problem statement important before designing a business solution? |
Entrepreneurship
Problem identification and idea fields |
Hard |
| 16 |
A change in consumer behaviour that continues over a long period is called a: |
Entrepreneurship
Spotting trends |
Easy |
| 17 |
A sudden craze for a particular toy that disappears within a few months is best described as a: |
Entrepreneurship
Spotting trends |
Easy |
| 18 |
Growing health awareness has continued for many years in Indian cities. Which business is LEAST directly link… |
Entrepreneurship
Spotting trends |
Medium |
| 19 |
Why is it risky to build a long-term business on a fad? |
Entrepreneurship
Spotting trends |
Medium |
| 20 |
An entrepreneur notices that more people are shifting to digital payments every year. Which pair of businesse… |
Entrepreneurship
Spotting trends |
Hard |
| 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 |
| 41 |
Details of recruitment, training and salaries of employees belong to the: |
Entrepreneurship
Components of a business plan |
Easy |
| 42 |
The projected cash flow statement and sources of funds are part of the: |
Entrepreneurship
Components of a business plan |
Easy |
| 43 |
A business plan section states that the firm will charge ₹250 per unit, sell through local retailers and adve… |
Entrepreneurship
Components of a business plan |
Medium |
| 44 |
A section of the plan shows the management structure and who reports to whom. This is the: |
Entrepreneurship
Components of a business plan |
Medium |
| 45 |
Why is the sales forecast in the marketing plan considered a base for the production and financial plans? |
Entrepreneurship
Components of a business plan |
Hard |
| 46 |
Dividing a market into groups of buyers with similar needs is called: |
Entrepreneurship
Marketing and sales strategy |
Easy |
| 47 |
In the marketing mix, "place" refers mainly to: |
Entrepreneurship
Marketing and sales strategy |
Easy |
| 48 |
A new juice brand enters a crowded market with a price lower than that of established brands to attract custo… |
Entrepreneurship
Marketing and sales strategy |
Medium |
| 49 |
A company advertises its scooter as "the most fuel-efficient choice for daily office commuters". This is an e… |
Entrepreneurship
Marketing and sales strategy |
Medium |
| 50 |
A firm launches a unique high-tech gadget at a high price, planning to reduce the price after early enthusias… |
Entrepreneurship
Marketing and sales strategy |
Hard |