WorksheetsIInd Sessional B.Voc Anand 2nd Sem - ED - June 2020
Total questions: 50
Worksheet time: 38mins
Name
Class
Date
1.
What is an entrepreneur?
a)
Someone who invests time and money to start a business.
b)
Someone who makes a lot of money.
c)
Someone who takes a risk to make a profit
d)
Both A & C
2.
Define Free Enterprise:
a)
A business taking a risk to make a profit.
b)
A program administered by the Government.
c)
People in business trying to make a profit.
d)
A business adventure or undertaking.
3.
Capital is:
a)
Money available to invest
b)
Prohibitive cost of entry
c)
A guarantee that a company will be successful.
d)
A & B.
4.
The following are included in a business plan
a)
Financial information, production plans, personnel policies.
b)
Goals of the business and how they will be achieved.
c)
A step by step plan for the success of your business.
d)
All of the above.
5.
Quality Control is defined as:
a)
Controlling the cost of the product.
b)
Controlling the number of pieces produced.
c)
Producing & monitoring products so they are acceptable to the consumer.
d)
Producing & monitoring products so they are acceptable to the workers
6.
A market survey is important because it tells you:
a)
How many & what types of people are shopping at a store.
b)
Tells you what the customer will buy.
c)
Tells you how much the customer will pay for the product.
d)
All of the above.
7.
Making a purchase you had not planned is called:
a)
Consumer shopping.
b)
A warranty.
c)
Impulse buying.
d)
Comparison shopping.
8.
Product planning tells you:
a)
Where you will produce your product.
b)
Cost to produce your product.
c)
Your Net profit.
d)
Total revenues.
9.
Cost per serving means:
a)
How much it will cost to produce one recipe.
b)
How much it will cost to produce what you sell in one day.
c)
How much it will cost to make “One.”
d)
How much it will cost to make one batch.
10.
What makes a good advertisement? (Choose the best combination)
a)
Color, Attracts attention, ingredients in product.
b)
Name of product, price, location, attractive.
c)
Easy to read, price, color, location, why customers should buy it.
d)
Nutritional information, price, color, where to buy it, easy to read.
11.
What things could you change to adjust your profit?
a)
Price.
b)
Number.
c)
Less expensive supply sources.
d)
All of the above.
12.
When counting change back to a customer, you should always give the ____________ amount of coins possible.
a)
Avoided
b)
Erased
c)
Ignored
d)
Reduced
13.
____________ can be defined as a specifically evolved work plan densed to achieve a specific objective within a specific period of time.
a)
best.
b)
least.
c)
most.
d)
Strategy
14.
If a customer’s bill totals $.65 and the customer gives you $1.00, the correct amount of change (according to our worksheet) would be:
a)
3 dimes and 1 nickel.
b)
5 pennies and 3 dimes.
c)
1 quarter and 1 dime.
d)
1 quarter and 2 nickels.
15.
Gross profit is the
a)
Amount of money you get for profit lab.
b)
Amount of money collected from selling products.
c)
Amount of money your product costs to produce
d)
Has nothing to do with money.
16.
Net profit is the:
a)
Amount of money you get for profit lab.
b)
Amount of money collected from selling products.
c)
Amount of money your product costs to produce.
d)
Has nothing to do with money.
17.
To figure the Gross Profit:
a)
Add up the ticket sales from selling day.
b)
Add up the ticket sales from selling day and subtract the cost of the ingredients.
c)
Add up cost to produce the product and subtract the total sales.
d)
Add the cost to produce the product and add the total sales.
18.
To figure the Net Profit:
a)
Add up the ticket sales from selling day.
b)
Add up the ticket sales from selling day and subtract the cost of the ingredients.
c)
Add up cost to produc3 the product and subtract the total sales.
d)
Add the cost to produce the product and add the total sales.
19.
In general, industries are more attractive when the ______________ .
a)
Majority of the threats are low
b)
Threat of each of the forces is neutral - neither low nor high
c)
Threat of each of the five forces is high
d)
Threat of each of the five forces is low
20.
Supplier concentration, switching costs, attractiveness of substitutes, and threat of the forward integration are factors that have a direct impact on _________ .
a)
Bargaining power of buyer
b)
Rivalry among existing firms
c)
Threat of substitutes
d)
Bargaining power of suppliers
21.
Each quarter, Craig Anderson, who owns a chain of auto repair shops, does a detailed analysis of his firm's competitors. This analysis is called ________ analysis.
a)
Strategic
b)
Competitor
c)
Challenger
d)
Participant
22.
A good advice to follow in customer surveys is ________.
a)
Keep them short
b)
Be as detailed as possible
c)
You've got them hooked, get all you can from them
d)
All of the above
23.
In a small Indian village, 60% people have a habit of eating vegetarian food. In the same village, 40% people have a habit of eating non-vegetarian food like fish, lamb etc. In that village, If a person has opened a shop in which he sells vegetarian as well as non-vegetarian food, what kind of people will be most attracted to the food that they usually eats?
a)
Vegetarian
b)
Non-vegetarian
c)
Both vegetarian and non-vegetarian
d)
None of the above
24.
Which of the following shows the process of creating something new?
a)
Business model
b)
Modeling
c)
Creative flexibility
d)
Innovation
25.
Which one of the following gives suggestions for new product and also help to market new products?
a)
Existing products and services
b)
Federal government
c)
Distribution Channels
d)
Consumers
26.
Which of the following is used by entrepreneurs to acquire experience in an international market before making a major commitment?
a)
Merger
b)
Minority Interest
c)
Joint venture
d)
Majority interest
27.
GATT is established in 1947, under:
a)
German leadership
b)
U.S. leadership
c)
French leadership
d)
U.K. leadership
28.
The entrepreneur was distinguished from capital provider in:
a)
Middle ages
b)
17th century
c)
18th century
d)
19th and 20th century
29.
A person who managed large project was termed as the entrepreneur in the _________.
a)
Earliest period
b)
Middle ages
c)
17th century
d)
19th and 20th century
30.
What is the process by which individuals pursue opportunities without regard to resources they currently control?
a)
Startup management
b)
Entrepreneurship
c)
Financial analysis
d)
Feasibility planning
31.
Having less than 50 percent of equity share in an international venture is called:
a)
Joint Venture
b)
Majority interest
c)
Minority interest
d)
Exporting
32.
Having more than 50% ownership position that provides the entrepreneur with managerial control is called:
a)
Joint venture
b)
Majority interest
c)
Horizontal merger
d)
Diversified activity merger
33.
Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete?
a)
New business model
b)
Anatomization
c)
None of the given options
d)
Creative destruction
34.
Which of the following factors is the most important in forcing U.S companies to focus on new product development and increased productivity?
a)
Entrepreneurship
b)
Hyper competition
c)
Governmental laws
d)
Organizational culture
35.
Which of the following is alternatively called corporate venturing?
a)
Entrepreneurship
b)
Intrapreneurship
c)
Act of stating a new venture
d)
Offering new products by an existing company
36.
Individuals influencing an entrepreneur’s career choice and style are known as which of the following?
a)
Moral-support network
b)
Role model
c)
Professional support network
d)
Support system
37.
The activity which occurs when the new venture is started is called:
a)
Motivation
b)
Business skills
c)
Departure point
d)
Goal orientation
38.
The level at which an individual is viewed by society is called:
a)
Financial status
b)
Qualification
c)
Social status
d)
Achievement
39.
Which one of the following is an important source of idea generation due to their familiarity with the needs of market?
a)
Existing products and services
b)
Distribution channels
c)
Federal government
d)
Consumers
40.
Members of distribution channels are excellent sources for new ideas because:
a)
They earn a handsome profit from new business
b)
They are familiar with the needs of the market
c)
They do not bother if entrepreneur bears a loss
d)
They have well-developed sales force
41.
Which one of the following is the most important characteristic of a successful business website?
a)
Innovation
b)
Speed
c)
Graphics
d)
Products
42.
Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process?
a)
Idea Stage
b)
Product Planning Stage
c)
Product Development Stage
d)
Test Marketing Stage
43.
SBA stands for:
a)
Small business accountants
b)
Small business administration
c)
Small business adequacy
d)
Small business advisors
44.
Emotional intelligence is something that develops as we get _________________.
a)
Older
b)
Smarter
c)
More college degrees
d)
All of the above
45.
Which of the following is the most suitable reason for using personal finance?
a)
Insufficient internal source of finance
b)
Insufficient external source of finance
c)
There is no interest obligation
d)
To please the owners (shareholders) of a company
46.
Which of the following is the least likely source of funds for a non-profit organization?
a)
Brand recognition
b)
Fund-raising events
c)
Charitable donations
d)
Sponsorship deals
47.
A financer who provide technical support to the entrepreneur is known as .........
a)
Angels money
b)
Business incubators
c)
Love money
d)
Venture capital
48.
Government grants are generally offered to business in .......
a)
Properous areas
b)
Economically deprived areas
c)
Areas with high employment
d)
Cold areas
49.
Venture capital is invested in ........
a)
Large stage and bigger firms
b)
Early stage firms with short-term growth potential
c)
Early stage firms which do not plan for growth
d)
Early stage firms with long-term growth potential
50.
What should the aspect of the company description include?
a)
Diagram, photographs
b)
Vision and mission statement
c)
Back up description of the target market, why your idea will be successful and capture the market and why the opportunity is present
d)
All of the above
100 %
