Multiple Choice Questions (MCQs)
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Read the questions carefully and circle the letter (a), (b), (c) or (d) that best answers the question.
Question.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
Question.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
Question.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
Question.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
Question.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
Question.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
Question.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
Question.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
Question.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
Question.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
Question.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
Question.12. An entrepreneur do the things as ________ .
(a) others are doing
(b) different from others.
(c) a lazy person
(d) None of the above
Answer
(b) different from others.
Question.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
Question.14. Success of 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
Question.15. Which of the following are misconception about Entrepreneur?
(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
Question.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
Question.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
Question.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
Question.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
Question.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
Question.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
Question.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.
Question.23. Which of the following entrepreneurship refers to starting industries in which manufacturing, trading, providing services, productions are done on a micro scale?
(a) Women Entrepreneurship
(b) Agricultural Entrepreneurship
(c) Small Scale Entrepreneurship
(d) None of the above
Answer
(c) Small Scale Entrepreneurship
Question.24. Entrepreneurship skills helps ___________ .
(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
Question.25. Which of the following are commercial functions of Entrepreneur?
(a) Innovation
(b) Finance and Accounting
(c) Leadership
(d) All of the above
Answer
(d) All of the above
Question.26. An enterprise owned and controlled by a woman and giving at least 51 per cent of the employment generated in the enterprise to women is ___________ .
(a) Agricultural Entrepreneurship
(b) Small Scale Entrepreneurship
(c) Social Entrepreneurship
(d) Women Entrepreneurship
Answer
(d) Women Entrepreneurship
Question.27. Which of the following characteristics should an entrepreneur have?
(a) Innovativeness
(b) Motivator
(c) All of these
Answer
(c) All of these
Question.28. Which of the following is a disadvantage of entrepreneurship as a career?
(a) Uncertainty
(b) Independence
(c) Ambition fulfillment
Answer
(a) Uncertainty
Question.29. Which of the following are the functions of an entrepreneur?
(a) Innovation
(b) Risk-taking
(c) All of these
Answer
(c) All of these
Question.30. 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
Question.31. The decision-making function of an entrepreneur includes:
(a) Hardwork
(b) Risk bearing
(c) Utilisation of financial resources
Answer
(c) Utilisation of financial resources
Question.32. ‘An entrepreneur has to get the work done through others.’ Which characteristic of the entrepreneur does this statement depict?
(a) Motivator
(b) Organiser
(c) Innovator
Answer
(a) Motivator
Question.33. Entrepreneur plays an important role in ____________ of Society
(a) making
(b) evolving
(c) growing
(d) None of the above.
Answer
(c) growing
Question.34. Entrepreneur is/are _________________
(a) Risk taker
(b) Hard Working
(c) Innovative
(d) All of the above
Answer
(d) All of the above
Question.35. Entrepreneur is a _________ of growing society.
(a) builder
(b) destroyer
(c) citizen
(d) None of the above
Answer
(a) builder
Question.36. ____________ is not the characteristics of entrepreneur.
(a) Hard Work
(b) Lazy
(c) Decision Maker
(d) None of the above
Answer
(b) Lazy
Question.37. Tick the correct option for the function that the entrepreneur is doing.
(i) Ali has a diamond factory. He pays his employees on the 1st of every month.
(a) Creates a new product
(b) Manages the business
(c) Takes risk
Answer
(b) Manages the business
(ii) Mary buys bulbs for her business from Noida. She learns that bulbs are cheaper in Faridabad. So, she decides to start buying bulbs from there.
(a) Makes decisions
(b) Divides income
(c) Takes risk
Answer
(a) Makes decisions
(iii) Rehnuma has two people who work for her. Every day, she spends one hour with them to learn about what they’ve done that day.
(a) Creates a new product
(b) Divides income
(c) Manages the business
Answer
(c) Manages the business
Question.38. Here are some stories of some entrepreneurs. Tick the option for the quality they are showing.
(i) 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
(ii) Susheela decides to sell her company’s product in Sri Lanka. It does not sell and she has a loss. She apologizes to the people who work for her. She says she will plan better next time. She ___________.
(a) takes responsibility for your mistakes
(b) thinks before making a decision
(c) does not give up
(d) is creative
Answer
(c) does not give up
