Entrepreneurship - MCQs

What is a key characteristic of an entrepreneur?

• Avoiding risks

• Embracing uncertainty and innovation

• Following traditional jobs only

• Depending only on others' ideas

Which of the following is NOT a type of new business venture?

• Launching a company

• Buying a business

• Taking a franchise

• Working a 9-to-5 job

What is a service business?

• A business that manufactures goods

• A business that provides work performed by individuals or teams

• A business that deals with retail products

• A business that only works from home

Which of these is an example of a manufacturing business?

• Banking

• Hardware making

• Teaching

• Transportation

What is a sole proprietorship business?

• A business owned by a single person

• A business owned by a company

• A business owned by multiple partners

• A government-run business

What is the relationship between a franchisee and a franchiser?

• The franchisee sells the franchiser's product and receives support in return for a fee

• The franchiser works under the franchisee

• They compete with each other

• The franchisee provides financial loans to the franchiser

What is a key consideration when copying an existing business?

• Ensuring it violates copyright laws

• Ignoring trademarks and intellectual property

• Researching and following legal guidelines

• Copying everything exactly as it is

What is an example of a work-from-home business?

• Grocery store

• Car manufacturing

• Blogging

• Hotel chain

Which of the following is a key takeaway about entrepreneurship?

• It requires creativity and innovation

• Entrepreneurs never experience failure

• Entrepreneurs do not need financial support

• Entrepreneurship is only for large businesses

What is a major benefit of entrepreneurship?

• Fixed monthly salary

• Increased independence and innovation

• No risks involved

• No need for skills or planning