PART - A
CHAPTER - 4 (ENTREPRENEURIAL SKILLS)
MCQ
1. ________ development is the process of strengthening the skills
and knowledge of budding and existing entrepreneurs by handholding them during
their entrepreneurial journey. *
·
Entrepreneurship
·
Salary
·
Mind
·
None of these
Answer : Entrepreneurship
2. ________ development is
the process of strengthening the skills and knowledge of budding and existing
entrepreneurs by handholding them during their entrepreneurial journey. *
·
Supporting entrepreneur in creating effective business plans.
·
Providing incubation and acceleration to new ideas.
·
Aiding in the availability of technology or raw material.
·
All of these
Correct answer : All of these
3. This phase involves generating interest and awareness among
potential entrepreneurs. It is done by orienting them towards the meaning,
process, benefits, and practice of entrepreneurship.
·
Stimulatory phase
·
Support phase
·
Sustenance phase
·
All of these
Correct answer - Stimulatory phase
4. In this phase, entrepreneurship development is focused on
helping enterprises to grow after they have been established. It helps in the
continuous and efficient functioning of enterprises within a society. It includes
activities such as modernization, diversification, expansion, getting
additional finance, and research and development support to help an enterprise
survive, develop and grow. *
·
Stimulatory phase
·
Support phase
·
Sustenance phase
·
All of these
Correct answer - Sustenance phase
5. In this phase, entrepreneurship development is focused on
helping enterprises to grow after they have been established. It helps in the
continuous and efficient functioning of enterprises within a society. It
includes activities such as modernization, diversification, expansion, getting
additional finance, and research and development support to help an enterprise
survive, develop and grow. *
·
Stimulatory phase
·
Support phase
·
Sustenance phase
·
All of these
Correct answer - Sustenance phase
6. NSDA acronym *
·
National Skill Development Agency
·
National Skill Deployment Agency
·
National Skill Department Agency
·
None of these
Correct answer - National Skill Development Agency
7. NSDC acronym *
·
National Skill Deployment Corporation
·
National Skill Development Company
·
National Skill Development Corporation
·
None of these
Correct answer - National Skill Development Corporation
8. It is an initiative of the Government of India, launched on
25th September 2014 to encourage multi-national, as well as domestic, companies
to manufacture their products in India. The major objective behind the
initiative is to focus on job creation and skill enhancement in 25sectors of
the economy. *
·
Make in India
·
Start-Up India
·
ATAL Innovation Mission (AIM)
·
PMKVY
Correct answer - Make in India
9. The Mission was launched in 2015 and has been developed to
create convergence across sectors and States in terms of skill training
activities. *
·
National Skill Development Mission
·
Start-Up India
·
ATAL Innovation Mission (AIM)
·
PMKVY
Correct answer - National Skill Development Mission
10. Entrepreneurial function *
·
Organisation Building and Management
·
Risk taking
·
Innovation
·
All of these
Correct answer - All of these
11. Assembling the Requirements: After making sure that the
proposition is practical and profitable, an entrepreneur proceeds to assemble
the requirements. This includes persuading people to join the company,
acquiring some patent rights, selecting the factory site, deciding about plant
and machinery and contacting suppliers of raw materials. *
·
Entrepreneurial functions
·
Promotional functions
·
Managerial functions
·
Commercial Functions
Correct answer - Commercial Functions
12. Communication: An entrepreneur has to communicate every single
day, in the form of writing, responding, drafting emails, verbal instruction,
discussion, etc. It has been established that entrepreneurs spend 75% to 90% of
their working time communicating with others. It refers to the exchange of
ideas, feelings, emotions, knowledge, and information between two or more
persons. Nothing happens in management until effective communication takes
place. *
·
Entrepreneurial functions
·
Promotional functions
·
Managerial functions
·
Commercial Functions
Correct answer - Managerial functions
13. Human Resource Management: Human Resource Management (HRM)
refers to recruitment, employment, selection, training, development, and compensation
of the employees with an organization. An entrepreneur performs this function
as no business can function without people. *
·
Entrepreneurial functions
·
Promotional functions
·
Managerial functions
·
Commercial Functions
Correct answer - Commercial Functions
14. entrepreneurs are those who introduce new products, new
methods of production techniques, or discover a new market or a new service.
They take initiative and find novel ways to start a venture. They exhibit initiative
and cleverness inputting attractive possibilities into practice. *
·
Innovative Entrepreneur
·
Imitative Entrepreneur
·
Fabian Entrepreneur
·
Drone Entrepreneur
Correct answer - Innovative Entrepreneur
15. who refuse to copy or use opportunities that come their way.
They are conventional in their approach. They are not ready to make changes in
their existing production methods even if they suffer losses. They resist
changes. They may be termed as laggards. *
·
Innovative Entrepreneur
·
Imitative Entrepreneur
·
Fabian Entrepreneur
·
Drone Entrepreneur
Correct answer - Drone Entrepreneur
16. Rational Entrepreneur related. *
·
Types of Entrepreneurs by Arthur H. Cole
·
Types of Entrepreneurs by Clarence Danhof
·
None of these
Correct answer : Types of Entrepreneurs by Arthur H. Cole
17. ______ development is one of the most important agenda of a
country. ________ development means the development of agriculture and industry
in the country leading to arise in Gross Domestic Product. *
·
Economic
·
Business
·
Nature
·
None of these
Correct answer - Economic
18. In developing nations, entrepreneurs usually imitate or adopt
the innovations done by the entrepreneurs of the developed nations. By doing
so, they adapt these innovations to the local conditions and hence work towards
overcoming the entrepreneurial challenges. *
·
Imitating role
·
Capital formation role
·
Balancing role
·
None of these
Correct answer - Imitating role
19. Entrepreneurs provide for regional developments by starting
small-scale industries. India needs decentralized structures to remove regional
imbalances in economic development. *
Imitating role
·
Capital formation role
·
Balancing role
·
None of these
Correct answer - Balancing role
20. Importance of Entrepreneurs *
·
Free market evolution
·
Efficiency improvements
·
New markets
·
All of these
Correct answer - All of these
21. Myth of Entrepreneurship *
·
Entrepreneurs are born that way
·
All entrepreneurs have great ideas
·
The only requirement is a good idea
·
All of these
Correct answer - All of
these
22.
A person who starts a commercial activity based on his unique idea that tries
to solve a problem around it, is a/an___________________.
·
Shopkeeper
·
Businessman
·
Entrepreneur
·
Employee
Correct
answer – Entrepreneur
23.
Rana buys goods in bulk and then sells them with a profit margin. Rana is a
________________.
·
Shopkeeper
·
Businessman
·
Entrepreneur
·
Employee
Correct
answer – Businessman
24.Tyra
found out that the climate in their area is suitable for producing various type
of hybrid mushrooms. She developed an idea of preserving mushrooms’ surplus
which is otherwise wasted. Now She sells
preserved mushroom of various varieties and is able to meet the needs of all
hotels in her state. Tyra is a/an__________.
·
Shopkeeper
·
Businessman
·
Entrepreneur
·
Employee
Correct answer –
Entrepreneur
25.
The enterprises that produce their own products based on a specific design are
____________ companies.
·
Manufacturing
·
Trading
·
Service
Correct
answer- Manufacturing