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Q. Building a business takes time than it takes to generate the idea for the business of
Ans. Longer
Q. Entrepreneurs should not be greedy to grow big, as this needs patience as well.
Ans. False
Q. Entrepreneurs need to have to be successful.
Ans. Patience
Q. ………………………is the specific tool of entrepreneurship?
Ans. Innovation
Q. Which of these is an example of entrepreneurship?
Ans. Starting up a new type of restaurant in a city.
Q. Why is it important to have prior knowledge or relatable expertise to become a successful entrepreneur?
Ans. Both A and B
Q. A successful tailor wanted to try something new. So, he opened a street food restaurant in his area. But his restaurant did not run properly and eventually he had to close it down. Why? Please select the best option.
Ans. He did not have prior knowledge of how to run a restaurant.
Q. An entrepreneur is one who involved in a FEW of these activities – managing, organizing, innovating, assuming risks,etc.
Ans. True
Q. An entrepreneur does the following activities – managing, organizing and makes all the decisions by himself.
Ans. True
Q. An entrepreneur is a person who takes less risk, avoids experimentation.
Ans. False
Q. Entrepreneurship involves organizing managing and assuming the risks pertaining to your enterprise etc. And an entrepreneur is one who is involved in ALL of these.
Ans. True
Q. Entrepreneurs need membership in physical communities where ideas can be shared and shaped.
Ans. True
Q. How to inspire and create entrepreneurial leaders within the organizations?
Ans. Both Are Correct
Q. Organizations are not entrepreneurial but people are entrepreneurial.
Ans. True
Q. Entrepreneuring framed as intentional iteration creates
Ans. Both are correct.
Q. An idea is defined as the content of cognition.
Ans. True
Q. Is every idea a possible opportunity?
Ans. True
Q. How to identify whether an idea is a opportunity or not?
Ans. Both are correct.
Q. Why do we need to evaluate an idea?
Ans. To know whether customers will buy the end product of an idea
Q. Successful entrepreneurship requires the ability to balance technical knowledge and market knowledge
Ans. True
Q. An electrician observed that grocery stores in his area are running successfully and wanted to open one too. He opened one but was not able to make any profits Why?
Ans. Both are correct
Q. Cash flows simply put is the difference between the cash that flows in and cash that flows out
Ans. True
Q. ………….. is the value of raw materials held, work-in-process and finished by the good held by the business.
Ans. Debentures
Q. The market should be large and growing while evaluating whether an idea is an opportunity or not.
Ans. True
Q. The venture/business should be of high strategic value to a potential acquirer.
Ans. True
Q. ………………….. is the monetary value of resources, like material, labor and overheads, used in the making of a product or delivery of a service.
Ans. Cost
Q. Direct vs indirect costs are based their association with different cost objects.
Ans. True
Q. Costs that do not vary in the short term, regardless of changes in output levels, are called costs.
Ans. Direct Cost
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