What is the process by which individuals pursue opportunities without regard to resources they currently control Mcq?

Q1. Which of the following shows the process of creating something new:

a)Business model

b)Modeling

c)Creative flexibility

d)Innovation

Answer: d

Q2. The entrepreneur was distinguished from capital provider in:

a) Middle ages

b) 17th century

c) 18th century

d) 19th and 20th century

Answer: c

Q3. A corporate manager who starts a new initiative for their company which entails setting up a new distinct business unit and board of directors can be regarded as:

a) Ecopreneur

b) Technopreneur

c) Intrapreneur

d) Social Entrepreneur

Answer: c

Q4. 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

Q5. EDP (Entrepreneurship Development Programmes) is required to help:

a) Existing entrepreneurs

b) First generation entrepreneurs

c) Future generation entrepreneurs

d) None of the above

Answer: b

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Q6. A Micro Enterprise is an enterprise where investment in plant and machinery does not exceed (According to MSMED Act, 2006):

a) Rs. 25 Lakh

b) Rs. 20 Lakh

c) Rs. 15 Lakh

d) Rs. 30 Lakh

Answer: a

Q7. 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

Q8. Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process:

a) Idea Stage

b) Product Planning Stage

c) Product Development Stage

d) Test Marketing Stage

Answer: c

Q9. 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

Q10. An individual who initiates, creates and manages a new business can be called _____________.

a)A leader

b)A manager

c)A professional

d)An entrepreneur

Answer: d

Q11. Which could provide an individual with the motivation to start a new business venture?

a)The financial rewards.

b)A desire to be independent

c)Risk taking

d)All the above.

Answer: d

Q12. Why are small businesses important to a country’s economy?

a)They give an outlet for entrepreneurs.

b)They can provide specialist support to larger companies.

c)They can be innovators of new products.

d)All the above.

Answer: d

Q13. ________ is the first development bank of the country.

A)ICICI.

B)IDBI.

C)SFC.

D)IFCI.

Answer: d

Q14. IFCI stands for_____________.

A)Industrial finance corporation of India.

B)Institutional finance corporation of India.

C)Industrial funding corporation of India.

D)Indian finance corporation and institution.

Answer: a

Q15. Large investment is made in fixed assets, the project will be termed as __________.

A)Capital Intensive.

B)Labour Intensive.

C)Product Intensive.

D)Market Intensive.

Answer: a

What is Entrepreneur?

Entrepreneur is a person who makes money by running or starting a business or businesses, especially when it involves taking financial risks.

A entrepreneur is an individual who creates a new business or bearing most of the risk and enjoy most of the rewards. The process of setting up a business is known as entrepreneurship.

Concept of Entrepreneurship

Meaning of Entrepreneurship:

Entrepreneurship play a significant role in the development of every country. The entrepreneurs establish new industries or make new things, or create new employment opportunities. Entrepreneurship is highly risky but also it can be highly rewarding as it serves to generate economic, wealth growth and innovation. 

Definition of Entrepreneurship :

According to Roberts Hisrich and Michael Peters

"Entrepreneurship is the process of creating something new with value by the devoting the necessary time and effort assuming the accompanying financial, physics social risk, and receiving the resulting rewards of monetary and personal satisfaction and independence." 

According to H.W. Johnson , " Entrepreneurship is a composite of three basic elements invention, innovation and adaptation."