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WorksheetsEntrepreneurship Basics
Total questions: 10
Worksheet time: 10mins
1. An individual who initiates, creates and manages a new business can be called _____________.
Leader
Manager
Professional
An entrepreneur
2. Why should an entrepreneur do a feasibility study for starting a new venture:
a) To identify possible sources of funds
b) To see if there are possible barriers to success
c) To estimate the expected sales
d) To explore potential customers
3. Which could provide an individual with the motivation to start a new business venture?
The financial rewards.
A desire to be independent.
Risk taking
All the above.
4. Why are small businesses important to a country’s economy?
They give an outlet for entrepreneurs.
They can provide specialist support to larger companies.
They can be innovators of new products.
All the above.
5. Which of the following shows the process of creating something new:
Business model
Modeling
Creative flexibility
Innovation
6. A corporate manager who starts a new initiative for their company which entails setting up a new distinct business unit and board of directors can be regarded as:
Ecopreneur
Technopreneur
Intrapreneur
Social Entrepreneur
7. Family business always interested to handover the change of his business to:
Indian Administration Officers
Professional Managers
Next generation
None of the above
8. The use of informal networks by entrepreneurs to gather information is known as _______.
Secondary research.
Entrepreneurial networking.
Informal parameters.
Marketing
9. A business arrangement where one party allows another party to use a business name and sell its products or services is known as__________.
A cooperative.
A franchise.
An owner-manager business.
A limited company.
10. Which of the following is the reason for business failure __________.
Lack of market research.
Poor financial control.
Poor management.
All the above.
