Unit 4 Entrepreneurship Skills – 150+ Multiple Choice Questions with Answer
150+ Multiple Choice Questions Entrepreneurship Skills
1. Business is a (an) _________ activity.
(a) social
(b) economic
(c) hazardous
(d) selling
2. Business is an economic activity which is related with continuous and regular production and distribution of ______ and ______ for satisfying human wants.
(a) goods , services
(b) purchase, sells
(c) service, payment
(d) service, money
3. The gap between what is needed and is available can be used as a/an _________ by some people?
(a) Business
(b) Risk
(c) Opportunity
(d) Advantage
4. The person who use the gap as opportunity is called ________ .
(a) Farmer
(b) Armyman
(c) Doctor
(d) Entrepreneur
5. What is the aim of entrepreneurship?
(a) Earn a profit
(b) Solve customers’ need innovatively
(c) Both of the above
(d) None of the above
6. Shopkeeper is Self-employed. So that shopkeeper is called an entrepreneur.
(a) True
(b) False
7. A shopkeeper introduces a new method or idea in the business, is called an entrepreneur.
(a) True
(b) False
8. An ________ is a project or undertaking that is bold and fulfills a need of the society which no one has ever addressed.
(a) Enterprise
(b) Entrepreneur
(c) Shopkeeper
(d) None of these
9. To become a successful Entrepreneur, you need to follow these steps in a proper sequence :
(i) Identify Need
(ii) Recognize Opportunity
(iii) Idea and start of a business
(iv) Growing the business
Identify the proper combination of sequence-
(a) (i) -> (ii) -> (iii) -> (iv)
(a) (iii) -> (iv) -> (ii) -> (i)
(a) (ii) -> (i) -> (iii) -> (iv)
(a) (i) -> (iv) -> (iv) -> (ii)
10. An entrepreneurs create _______ opportunities, to grow the country economy.
(a) money
(b) credit
(c) business
(d) none of these
11. In simple words, ________ can be defined as the creation of a new business venture.
(a) Enterprise
(b) Entrepreneur
(c) Entrepreneurship
(d) None of these
12. In our daily lives, we use various products and services that are provided by businesses. These businesses were created because of ____________.
(a) Enterprise
(b) Entrepreneurs
(c) Entrepreneurship
(d) None of these
13. Entrepreneurship not only initiates creation of new businesses in different industries, but also positively impacts _________ development.
(a) Economic
(b) Social
(c) Relational
(d) None of these
14. In economic development, _________ plays a crucial role.
(a) Enterprise
(b) Entrepreneurs
(c) Entrepreneurship
(d) None of these
15. The _______ are self-employed while the ______ are wage earners.
(a) owners, enterprise
(b) owners, employees
(c) entrepreneurs, owners
(d) None of these
16. An entrepreneur adds value to a business can be of many kinds like _________.
(a) adding varieties & new cost reduction ideas
(b) new services – home delivery or credit service
(c) new marketing ideas
(d) All of these
17. Entrepreneurship is a ________
(a) process of developing business plan
(b) launching a business using innovation to meet customer needs
(c) process to make a profit
(d) All of these
18. An ____________ is a project or undertaking that is bold and fulfills a need of the society which no one has ever addressed.
(a) Enterprise
(b) Entrepreneur
(c) Entrepreneurship
(d) All of these
19. What is the aim of entrepreneurship?
(a) Earn a Profit
(b) Solve customer’s need innovatively
(c) Both (a) and (b)
(d) None of the above
20. A _________ is defined as a continuous activity, where economic actions are taken by humans with the objective of earning a profit by either producing, sourcing, buying and selling of goods and services..
(a) Business
(b) Enterprise
(c) Entrepreneurship
(d) All of these
