QN01. Which one of the following theory has the attribute of moderate risk taking as a function of skill, not chance?
- Need for independence
- Need for achievement
- Need for affiliation
- Need for authority
Answer
(B)Need for achievement
QN02. Foundation companies are formed from:
- Fashion
- Research and development
- Most popular business
- winding up company
Answer
(B)Research and development
QN03. All of the following are the broad categories of External forces EXCEPT:
- Economic forces
- S Socioeconomic forces
- Technological forces
- Competitive forces
Answer
(B)S Socioeconomic forces
QN04. A ______________ is a professional money manager who makes risk investment from a pool of equity capital to obtain a high rate of return on investments.
- venture capitalist
- entrepreneur
- businessman
- buyer
Answer
(A)venture capitalist
QN05. Members of distribution channels are excellent sources for new ideas because:
- They are familiar with the needs of the market
- They earn a handsome profit from new business
- They do not bother if entrepreneur bears a loss
- They have well-developed sales force
Answer
(A)They are familiar with the needs of the market
QN06. Which of the following geographical area is having least interest to U.S. entrepreneurs?
- Europe
- The Far East
- Central Asia
- Transition economies
Answer
(C)Central Asia
QN07. Andrew Carnegie is an example of entrepreneur of which century:
- Earliest period
- 19th and 20th century
- Middle ages
- 17th century
Answer
(B)19th and 20th century
QN08. The activity which occurs when the new venture is started are called:
- Business skills
- Motivation
- Departure point
- Goal orientation
Answer
(C)Departure point
QN09. The business plan should be prepared by:
- Entrepreneurs
- Consultants
- Engineers
- Small business administration services
Answer
(A)Entrepreneurs
QN10. What is the primary concern of founders who trade equity for capital for their growing venture?
- Capitalization
- Control
- Valuation
- Investor capabilities
Answer
(A)Capitalization
QN11. The importance of intellectual property should be understood by entrepreneur even before:
- Hiring a manager
- Engaging an attorney
- Developing a product
- Establishing new venture
Answer
(B)Engaging an attorney
QN12. A patent is granted for a specified amount of time because of the assumption:
- That during this time firm will cover its development costs
- That firm will earn a sufficient profit during this period
- To limit the monopoly of the firm
- That it will stimulate idea and development of a better product
Answer
(D)That it will stimulate idea and development of a better product
QN13. External forces directly affect all of the following EXCEPT:
- Market segmentation strategies
- Types of products/services offered
- Management structure of organization
- Choice of businesses to acquire or sell
Answer
(C)Management structure of organization
QN14. Which of the following is alternatively called corporate venturing?
- Intrapreneurship
- Entrepreneurship
- Act of stating a new venture
- Offering new products by an existing company
Answer
(A)Intrapreneurship
QN15. Following are the types of non equity arrangements EXCEPT:
- Licensing
- T turnkey project
- Direct export
- Management contracts
Answer
(C)Direct export
QN16. Government can help in forming new venture by providing:
- finance
- technology
- infrastructure
- funds
Answer
(C)infrastructure
QN17. The longest lasting trade agreement with the objective of liberalizing trade by eliminating or reducing tariffs, subsidies and quotas is:
- Free trade area - FTA
- European community - EC
- General agreement on tariffs and trade - GATT
- The North American free trade agreement - NAFTA
Answer
(C)General agreement on tariffs and trade - GATT
QN18. Entrepreneurial success has been significant because of the culture and the political and economic systems in ––––––––.
- Asian countries
- Eu ropean countries
- Transition economies
- Middle East
Answer
(A)Asian countries
QN19. The transitional disturbance and lack of reform has led to boom black market in:
- China
- Hungary
- Singapore
- Poland
Answer
(D)Poland
QN20. Which of the following factors has allowed small companies to act like they are big ones?
- Customers
- Competition
- Economic development
- Technology
Answer
(D)Technology
QN21. Gazelles are the firms with:
- High growth rate
- M moderate growth rate
- Zero% growth rate
- Low growth r
Answer
(A)High growth rate
QN22. Professional support network includes following EXCEPT:
- Personal affiliations
- Mentor
- Friends
- Trade associations
Answer
(C)Friends
QN23. The period in which the money person entered into a contract with the go-between to sell his goods is known as
- Middle ages
- 18th century
- 17th century
- Earliest period
Answer
(D)Earliest period
QN24. Which one of the Following is not the way by which an entrepreneur can enter into international business?
- Export
- Non equity arrangements
- Direct foreign investment
- Communication
Answer
(D)Communication
QN25. ______________ viewed the entrepreneur as a risk taker who "buy(s) at an uncertain price, therefore operating at a risk".
- Eli Whitney
- Edward hariman
- Richard cantillon
- Thomas Edison
Answer
(C)Richard cantillon
QN26. Female entrepreneurs differ from male entrepreneurs in terms of all of the following EXCEPT:
- Motivation
- business skills
- Departure point
- Goal orientation
Answer
(D)Goal orientation
QN27. An entrepreneur into the hosiery business found out the reason his hosiery was not selling was due to its color. What could be the best source of this information?
- Supplier
- Retailer
- Competition
- Government bureau
Answer
(B)Retailer
QN28. Which of the following factors does not affect a person for being an entrepreneur?
- Gender
- Education
- Family background
- values
Answer
(C)Family background
QN29. Which of the following factors does not affect a person for being an entrepreneur?
- Work history
- Nationality
- Education
- Personal values
Answer
(B)Nationality
QN30. The former USSR received technology and syrup from Pepsi and provided it with Soviet vodka and rights to distribute it in the US. This is an example of:
- Economic development
- Balance of payment
- Barter system
- International trade
Answer
(C)Barter system
QN31. Which one of the following is NOT a condition of a contract?
- An offer is made
- Consideration is given
- An acceptance of offer
- Contract must be illegal
Answer
(D)Contract must be illegal
QN32. Government can help in forming new venture by providing:
- Finance
- Technology
- Infrastructure
- Subsidiaries
Answer
(C)Infrastructure
QN33. A contract must be signed by:
- At least one party
- Both the parties
- Not necessary to sign
- By third party
Answer
(B)Both the parties
QN34. Which of the following areas are preferred by women entrepreneurs?
- Administration
- Organization
- Utilities
- Manufacturing
Answer
(A)Administration
QN35. A typical inventor is usually ______________.
- Highly creative & in love with the invention
- Does not encourage change
- Willing to modify the invention
- Not enthusiastic
Answer
(A)Highly creative & in love with the invention
QN36. Which one of the following is the fourth step in the entrepreneurial process?
- Developing successful business ideas
- Initiating New rules
- Deciding to become an entrepreneur
- Growing the entrepreneurial firm
Answer
(D)Growing the entrepreneurial firm
QN37. The commitment of administrative domain to the resources is for:
- Periodic intervals
- Total amount needed
- For certain tasks
- For long time
Answer
(B)Total amount needed
QN38. Developing a new idea through inquiry and testing is called:
- Forced relationship
- Heuristics
- Scientific method
- Value analysis
Answer
(C)Scientific method
QN39. Which of the following is not a source of idea generation?
- Consumers
- Federal government
- Brain storming
- Training
Answer
(D)Training
QN40. Which of the following cannot be covered under the copyright protection?
- Computer software
- Poems and songs
- Computer hardware
- Models and sculpture
Answer
(D)Models and sculpture
