ENTREPRENEURIAL SKILLS II
OBJECTIVES
Entrepreneurship - Multiple Choice Questions
1. _________ is the type of self-employment where one is running a business to satisfy the needs of people and looking for ways to make the business better.
(a) Entrepreneurship
(b) Entrepreneur
(c) Business Idea
(d) Entrepreneurist
Answer: (a) Entrepreneurship
2. Which of the following are the qualities of successful entrepreneurs?
(a) They are confident.
(b) They take responsibility for their actions.
(c) They work hard
(d) All of the above
Answer: (d) All of the above
3. _________ are people who work for a person or an organization and get paid for that work.
(a) Self employed
(b) Wage employed
(c) Both of the above
(d) None of the above
Answer: (b) Wage employed
4. ________ people are those who start businesses to satisfy the needs of people.
(a) Self-employed
(b) Wage-employed
(c) Both of the above
(d) None of the above
Answer: (a) Self-employed
5. A self-employed person who is always trying to make his/her business better by taking risks and trying new ideas is called _______.
(a) Skilled man
(b) Business man
(c) Entrepreneur
(d) None of the above
Answer: (c) Entrepreneur
6. Ramya and Ramu both own plant shops. Ramu sits at his shop every day. When customers come, he sells to them. Ramya walks around and gets customers to her shop. She also sells seeds and flowers. Who is Entrepreneur out of Ramya and Ramu?
(a) Ramya
(b) Ramu
(c) Both of the above
(d) None of the above
Answer: (c) Both of the above
7. What do entrepreneurs do when they run their business?
(a) They help in increasing jobs in their area.
(b) Helping the people in the society to earn money.
(c) Both of the above
(d) None of the above
Answer: (c) Both of the above
8. Qualities of successful entrepreneurs are.
(a) They keep trying new ideas.
(b) They are confident.
(c) They are creative
(d) All of the above
Answer: (d) All of the above
9. Ravi’s customer comes to his store and starts shouting at him. He does not get angry. He listens to what his customer is saying. He is ________.
(a) Hardworking
(b) Confident
(c) Patient
(d) Trying new ideas
Answer: (c) Patient
10. Susheela decides to sell her company tyres in Sri Lanka. It does not sell and she has a loss. She apologises to the people who work for her. She says she will plan better next time. She _________.
(a) takes responsibility for her mistakes
(b) thinks before making a decision
(c) does not give up
(d) is creative
Answer: (a) takes responsibility for her mistakes
Entrepreneurship - Multiple Choice Questions (11–20)
11. As an entrepreneur, you should be _______.
(a) Creative
(b) Hard Working
(c) Decision Maker
(d) All of the above
Answer: (d) All of the above
12. An entrepreneur does things ________.
(a) others are doing
(b) different from others
(c) a lazy person
(d) None of the above
Answer: (b) different from others
13. The money used to start a business is called ________.
(a) Capital
(b) Business Money
(c) Start ups
(d) None of the above
Answer: (a) Capital
14. Success of an entrepreneur depends on _________.
(a) Hard Work
(b) Good Idea
(c) Both of the above
(d) None of the above
Answer: (c) Both of the above
15. Which of the following are misconceptions about Entrepreneurs?
(a) Entrepreneurs are born, not made.
(b) A person having a big business is an entrepreneur.
(c) A person needs a lot of money to start a business.
(d) All of the above
Answer: (d) All of the above
16. A doctor who works for a hospital is a _______ person.
(a) Wage employed
(b) Self employed
(c) Both of the above
(d) None of the above
Answer: (a) Wage employed
17. Dr. Ravi has his own clinic so he is a _____________ person.
(a) Self-employed
(b) Wage-employed
(c) Both of the above
(d) None of the above
Answer: (a) Self-employed
18. Positive impact of entrepreneurship on society is _________.
(a) Accentuates economic growth
(b) Encourages welfare of the society
(c) Solves the problems of the society
(d) All of the above
Answer: (d) All of the above
19. Society plays a role in boosting entrepreneurship by ___________.
(a) Providing raw materials
(b) Creating needs and demands
(c) Both of the above
(d) None of the above
Answer: (c) Both of the above
20. Adverse impact of entrepreneurship on society is ____________.
(a) Environmental degradation
(b) Trade imbalance
(c) Labour exploitation
(d) None of the above
Answer: (d) None of the above
Entrepreneurship - Multiple Choice Questions (21–30)
21. Which of the following social problems are tackled by social entrepreneurs?
(a) Low reach of quality education
(b) Unemployment
(c) Child labour
(d) All of the above
Answer: (d) All of the above
22. Agricultural Entrepreneurship helps farmers in _________.
(a) finding low-cost innovations in farming processes.
(b) giving loans to farmers
(c) giving jobs to the family members of farmers.
(d) All of the above
Answer: (a) finding low-cost innovations in farming processes.
23. Which type of entrepreneurship refers to starting industries on a micro scale?
(a) Women Entrepreneurship
(b) Agricultural Entrepreneurship
(c) Small Scale Entrepreneurship
(d) None of the above
Answer: (c) Small Scale Entrepreneurship
24. Entrepreneurship skills help ___________.
(a) to develop ability to handle failure.
(b) in making difference to the society.
(c) to develop critical thinking
(d) All of the above
Answer: (d) All of the above
25. Which of the following are commercial functions of an Entrepreneur?
(a) Innovation
(b) Finance and Accounting
(c) Leadership
(d) All of the above
Answer: (d) All of the above
26. An enterprise owned and controlled by a woman and giving at least 51% employment to women is ___________.
(a) Agricultural Entrepreneurship
(b) Small Scale Entrepreneurship
(c) Social Entrepreneurship
(d) Women Entrepreneurship
Answer: (d) Women Entrepreneurship
27. Entrepreneurs can create jobs in the market. (T/F)
(a) True
(b) False
Answer: (a) True
28. When many entrepreneurs sell mobile phones in a market, the prices of phones increase. (T/F)
(a) True
(b) False
Answer: (b) False
29. Entrepreneurs identify a need in the market and build a product or service for it. (T/F)
(a) True
(b) False
Answer: (a) True
30. All businesses either skyrocket or fail. (T/F)
(a) True
(b) False
Answer: (a) True
QUESTIONS AND ANSWERS (SET 01)
A. Multiple Choice Questions
Q1. Which of the following characteristics should an entrepreneur have?
(a) Innovativeness
(b) Motivator
(c) All of these
Answer: (c) All of these
Q2. Which of the following is a disadvantage of entrepreneurship as a career?
(a) Uncertainty
(b) Independence
(c) Ambition fulfillment
Answer: (a) Uncertainty
Q3. Which of the following are the functions of an entrepreneur?
(a) Innovation
(b) Risk-taking
(c) All of these
Answer: (c) All of these
Q4. Which of the following is an advantage of entrepreneurship as a career?
(a) Risk
(b) Hardwork
(c) None of these
Answer: (c) None of these
Q5. The decision-making function of an entrepreneur includes:
(a) Hardwork
(b) Risk bearing
(c) Utilisation of financial resources
Answer: (c) Utilisation of financial resources
Q6. 'An entrepreneur has to get the work done through others.' Which characteristic does this statement depict?
(a) Motivator
(b) Organiser
(c) Innovator
Answer: (a) Motivator
Case Study: Bharti is a young woman from Bihar. Many girls in her area like to wear earrings. She buys jute from a farmer and makes earrings from it. Her business is called Manavi Natural Handicrafts. She notices that most women in her village do not work, so she hires two women to help her.
1) What demand did Bharti identify in her village?
(a) People wanted jute
(b) Girls liked to wear earrings
(c) Villagers wanted more water
Answer: (b) Girls liked to wear earrings
2) What is the local resource that Bharti used?
(a) Jute
(b) Water
(c) Sand
Answer: (a) Jute
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