Class 10th Unit 4 Entrepreneurial Skills-I

Entrepreneur and Entrepreneurship (35 MCQs with Answers)

MCQs

1. Who is an entrepreneur?
a) A person who manages government offices
b) A person who starts and runs a business by taking risks
c) A person who only invests in banks
d) A person who only does routine jobs
Answer: b) A person who starts and runs a business by taking risks

2. Entrepreneurship refers to:
a) The process of buying and selling goods
b) The activity of starting, managing, and growing a business
c) Only investing in shares
d) Working in a government office
Answer: b) The activity of starting, managing, and growing a business

3. Which of the following is a key function of an entrepreneur?
a) Risk-taking
b) Innovation
c) Decision-making
d) All of the above
Answer: d) All of the above

4. The word “entrepreneur” has been derived from which language?
a) English
b) French
c) German
d) Latin
Answer: b) French

5. Which of these is not a characteristic of an entrepreneur?
a) Creativity
b) Risk-taking
c) Laziness
d) Leadership
Answer: c) Laziness

6. An entrepreneur is also known as a:
a) Follower
b) Innovator
c) Routine worker
d) Employee
Answer: b) Innovator

7. Which of the following is the first step in entrepreneurship?
a) Earning profits
b) Idea generation
c) Business expansion
d) Marketing products
Answer: b) Idea generation

8. Which of these is an example of entrepreneurship?
a) A student starting a new mobile app company
b) A person working as a clerk
c) A teacher teaching in school
d) A farmer working on wages
Answer: a) A student starting a new mobile app company

9. Which quality helps entrepreneurs to face failures?
a) Leadership
b) Confidence
c) Patience and resilience
d) Risk avoidance
Answer: c) Patience and resilience

10. Profit in entrepreneurship is considered as:
a) The reward for risk-taking
b) Free gift
c) Fixed salary
d) Social service
Answer: a) The reward for risk-taking

11. Which of the following is a type of entrepreneur?
a) Business entrepreneur
b) Social entrepreneur
c) Innovative entrepreneur
d) All of the above
Answer: d) All of the above

12. A social entrepreneur focuses on:
a) Social welfare and solving social problems
b) Only earning profit
c) Import-export
d) Bank investments
Answer: a) Social welfare and solving social problems

13. Which of these is not a function of entrepreneurship?
a) Risk-taking
b) Innovation
c) Developing new ideas
d) Ignoring opportunities
Answer: d) Ignoring opportunities

14. An entrepreneur differs from a manager because:
a) Entrepreneur takes risks, manager controls resources
b) Entrepreneur works under manager
c) Entrepreneur avoids decision-making
d) Manager always owns the business
Answer: a) Entrepreneur takes risks, manager controls resources

15. The main aim of entrepreneurship is:
a) To create new ventures and add value
b) To avoid risks
c) To work as an employee
d) To close existing businesses
Answer: a) To create new ventures and add value

16. Entrepreneurship contributes to society by:
a) Generating employment
b) Encouraging innovation
c) Improving economy
d) All of the above
Answer: d) All of the above

17. Which of these is an example of an innovative entrepreneur?
a) Someone who invents a new product or service
b) Someone who follows old business ideas
c) Someone who avoids experiments
d) Someone who copies competitors
Answer: a) Someone who invents a new product or service

18. Which of the following is an essential skill for entrepreneurs?
a) Leadership and communication
b) Risk-taking and problem-solving
c) Time management and decision-making
d) All of the above
Answer: d) All of the above

19. Entrepreneurs contribute to the economy by:
a) Paying taxes
b) Creating wealth
c) Providing goods and services
d) All of the above
Answer: d) All of the above

20. Which type of entrepreneur uses technology as a base for new business?
a) Business entrepreneur
b) Social entrepreneur
c) Tech entrepreneur
d) Agricultural entrepreneur
Answer: c) Tech entrepreneur

21. Which of these is a barrier to entrepreneurship?
a) Lack of finance
b) Lack of confidence
c) Fear of failure
d) All of the above
Answer: d) All of the above

22. Which of these statements is true about entrepreneurs?
a) They never take risks
b) They always depend on others for decisions
c) They create jobs for themselves and others
d) They work only for salary
Answer: c) They create jobs for themselves and others

23. A farmer introducing modern irrigation methods is an example of:
a) Social entrepreneurship
b) Agricultural entrepreneurship
c) Tech entrepreneurship
d) Business entrepreneurship
Answer: b) Agricultural entrepreneurship

24. An entrepreneur is different from an employee because:
a) Employee takes risks, entrepreneur avoids risks
b) Entrepreneur creates business, employee works for business
c) Entrepreneur always works under employee
d) Employee always invests capital
Answer: b) Entrepreneur creates business, employee works for business

25. One major challenge for entrepreneurs is:
a) Low competition
b) Unlimited resources
c) Financial risk
d) Lack of ideas
Answer: c) Financial risk

26. Which of the following is not an advantage of entrepreneurship?
a) Independence in decision-making
b) Opportunity to innovate
c) Guaranteed fixed salary
d) Contribution to economy
Answer: c) Guaranteed fixed salary

27. Which of these is an example of entrepreneurship in India?
a) Startup companies like Ola, Flipkart, Zomato
b) Working as a school teacher
c) Working in government services
d) Routine clerical jobs
Answer: a) Startup companies like Ola, Flipkart, Zomato

28. Entrepreneurship mainly involves:
a) Creativity, innovation, and risk-taking
b) Only working on routine tasks
c) Ignoring new opportunities
d) Avoiding economic growth
Answer: a) Creativity, innovation, and risk-taking

29. Which of the following is a social benefit of entrepreneurship?
a) Employment generation
b) Development of rural areas
c) Improving living standards
d) All of the above
Answer: d) All of the above

30. Which factor motivates entrepreneurs the most?
a) Job security
b) Desire for achievement and independence
c) Avoiding competition
d) Laziness
Answer: b) Desire for achievement and independence

31. Entrepreneurs help in nation building by:
a) Starting new industries
b) Providing jobs
c) Reducing imports and promoting exports
d) All of the above
Answer: d) All of the above

32. Entrepreneurship can be best described as:
a) A career option with risk and reward
b) A government job
c) A routine task
d) A safe salaried position
Answer: a) A career option with risk and reward

33. Who among the following is considered a famous Indian entrepreneur?
a) Ratan Tata
b) Virat Kohli
c) Amitabh Bachchan
d) A.R. Rahman
Answer: a) Ratan Tata

34. Which of the following is an example of social entrepreneurship in India?
a) Aravind Eye Care System providing affordable eye treatment
b) Online food delivery startups
c) Mobile app gaming companies
d) Private coaching institutes
Answer: a) Aravind Eye Care System providing affordable eye treatment

35. The essence of entrepreneurship is:
a) Innovation and value creation
b) Avoiding challenges
c) Following routine jobs
d) Ignoring risks
Answer: a) Innovation and value creation