A) Entrepreneur: D) All The Above

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Entrepreneurship Development Assessment -1

Q1. A person who recognizes an opportunity and organizes and manages a business, assuming the risk
for the sake of potential return..

a) Entrepreneur b) Mentor c) Trade off d) strategy

Q2. Intangible work that provides time, skills, or expertise in exchange for money

a) Salary b) Service c) Dividend d) Product

Q3. An individual who starts, creates and manages a new business can be called___________.

a) leader b) A manager c) A professional d) An entrepreneur

Q4. Good sources of information for an entrepreneur about competitors can be obtained
from_________.

a) Websites.

b) Product information leaflets.

c) Company reports and published accounts.

d) All the above.

Q5. Innovation can best be defined as_______.

a) The generation of new ideas.

b) The evolution of new ideas.

c) The opposite of creativity.

d) The successful exploitation of new ideas.

Q6. Entrepreneurs are motivated by _________.

a) money.

b) personal values.

c) pull influences.

d) All the above.

Q7. Characteristics of entrepreneurs include all of the following EXCEPT:

a) Tolerance for ambiguity


b) Flexibility
c) Skill at organizing.
d) Low degree of commitment
Entrepreneurship Development Assessment -1

Q8.Which of the following is NOT a characteristic of the typical entrepreneur?

a) Desire for responsibility


b) High degree of commitment
c) Low energy levels.
d) Confidence in his/her ability to succeed

Q9. Entrepreneurs are characterized by:

a) Skill at organizing.
b) Desire for immediate feedback.
c) High energy levels.
d) All of the above.

Q10. Entrepreneurs who repeatedly start businesses and grow to a sustainable size before
Striking out again are known as ______ entrepreneurs.

a) Opportunistic
b) Persistent
c) Serial
d) None of the above.

Q11. Surveys show that owners of small businesses believe that they ________________ than
if they worked for a large company.

a) Work harder
b) earn more money
c) are happier
d) All of the above.

Q12. What is the most common reason given for why people choose to become entrepreneurs?

a) To make a lot of money.


b) To escape the long hours associated with corporate jobs.
c) To be their own boss
d) To be able to retire early.

Q13. All of the following are characteristics shared by successful entrepreneurs EXCEPT:

a) Passion.
b) Risk averse
c) Product/customer focus.
d) Tenacity despite failure.

Q14. Which of the following is NOT a common myth about entrepreneurs?

a) Everyone has the potential to be an entrepreneur.


b) Entrepreneurs are born, not made.
c) Entrepreneurs are gamblers.
d) Entrepreneurs love the spotlight.
Entrepreneurship Development Assessment -1

Q15. The word “Entrepreneur” derived from ……… word ‘entreprendre’

a) Greek b) French c) Roman d) None of these

Q16. ………………. is an individual who creates a new business, bearing most of the risks and enjoying
most of the rewards.

a) An entrepreneur b) An intrapreneur c) Manager d) None of these

Q 17. “Entrepreneur as an individual who form an organization for commercial purpose –who is
capitalist” this definition given by……

a) Adam smith b) Cantillon, c) J.B. Say: d) Joseph A. Schumpeter

Q 18. “Entrepreneur as an individual who carries out new combines of means of production by which
there occurs disequilibrium.”

a) Adam smith b) Cantillon c) J.B. Say: d) Joseph A. Schumpeter

Q19. Characteristic of Entrepreneurship

a) Open minded b) Flexible c) Visionary and leadership quality d) All of these

Q20. Importance of entrepreneur are…

a) Creation of Employment
b) Innovation
c) Support research and development
d) All of the above

Q21 which statement is wrong for entrepreneur…..

a) Work for salary


b) Bear all financial risk
c) Expanding the business idea
d) Can be informal and formal both

Q22. The term ………..refers to a system that allows an employee to act like an entrepreneur
within a company or other organization.

a) Manager
b) Entrepreneur
c) Intrapreneur
d) None of these
Q23. Characteristics of Intrapreneur are…………..

a) Creates new ventures


b) Proactive
c) Innovates processes
Entrepreneurship Development Assessment -1

d) Risk-taking

Q24. Entrepreneurs are classified on the basis of Gender……..

a) Male
b) Female
c) Both
d) None of the above

Q 25. ………….. an innovative entrepreneur is one who launches new products ,discovered new
market setup new business ,establish new method of production and restructures the
enterprises .they are aggressive in nature.

a) Innovative Entrepreneur
b) Fabian Entrepreneur
c) Adoptive Entrepreneur
d) None of the above

Q26. They are characterized by refusal to adopt any change in production, technology or
market. They seldom survive long.

a) Drone Entrepreneur
b) Innovative Entrepreneur
c) Adoptive Entrepreneur
d) None of the above

Q27. ……..such an entrepreneur does not initiate expansion and in content just staying in
business.

a) Prime Mover
b) Manager
c) Minor innovator
d) None of the above

Q 28. …………..an entrepreneur who runs such a business actually produces the product that
can be sold using resources and supplies.

a) Manufacturing:
b) Wholesaling:
c) Service:
d) None of the above

Q 29. The traits of successful entrepreneur are

a) Manufacturing:
b) Wholesaling:
c) Service:
d) None of the above
Entrepreneurship Development Assessment -1

Q 30. The processes of entrepreneurship are consist of ………….

a) Germination
b) Preparation
c) Incubation
d) All of the above

Q31. The qualities of a successful entrepreneur are…….

a) Clear perception
b) Leadership qualities
c) both
d) none of the above

Q32. Entrepreneurs would be best described as risk

a) averse
b) Rewarders.
c) Managers.
d) Loving.

Q33. A person's belief in his capability to perform a task is known as:

a) self-recognition, beliefs, and values


b) Beliefs and values.
c) Self-efficacy.
d) Self-determination.

Q34. Which of the following personality characteristics are included in the "Big Five?"

a) Introversion
b) Close-mindedness
c) Being disagreeable
d) Extraversion and conscientiousness

Q35. The process of gathering information about trends is called:

a) Need for achievement.


b) Tenacity.
c) Neuroticism.
d) Scanning the environment.

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