Entrepreneurship Skills Quiz

What is the primary role of an entrepreneur?

• To work for someone else

• To take risks and start a business

• To manage a large corporation

• To sell products at a loss

Which of the following is NOT a quality of a successful entrepreneur?

• Creativity

• Patience

• Procrastination

• Confidence

What is the process of developing a business plan and launching a business called?

• Wage employment

• Entrepreneurship

• Marketing

• Investment

What type of business does Sowmya run?

• A clothing store

• A healthy snack business

• A grocery store

• A restaurant

Which of the following is an example of a service business?

• A furniture manufacturing company

• A clothing retail shop

• A bakery

• A cricket coaching center

What is a key benefit of entrepreneurship?

• Limited risk

• Working for someone else

• Guaranteed income

• Making profits for oneself

What distinguishes an entrepreneur from a traditional business person?

• Ability to take risks

• Working for a salary

• Selling products

• Managing employees

What is the first step in starting a business according to Prem Ganapathy's story?

• Improving product/service

• Coming up with a business idea

• Understanding customer needs

• Getting money and material

Which of the following is an example of a hybrid business?

• A clothing store

• A car repair shop

• A grocery store

• A bakery that sells cakes and offers baking classes

What does the term 'risk' refer to in entrepreneurship?

• A type of investment

• A situation where the result is not known

• A situation where the result is known

• Guaranteed success