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WorksheetsCED MCQ TEST
Total questions: 100
Worksheet time: 55mins
An individual who initiates, creates and manages a new business can be called _____________.
A leader
A manager
An entrepreneur
A professional
Trademarks relate to _______.
Practice and knowledge acquired through experience
The protection of proprietary information of commercial value
The right to reproduce ones own original work
Brand identity
What challenges does an entrepreneur have?
all of the above
drive
responsibility
money
What entrepreneur qualities do YOU need ?
Determination
Self-discipline
Team-working skills
All of the above
Natalia bought an iPad from Shoppe. He received a broken iPad when he opened his packaging. He is upset and angry.
If you are the owner of the store, how will you deal with this problem?
Shout back at Jonah and ask him to apologies for being rude.
Apologies and replace the broken item with a new one.
Apologies, cry and run away.
Shut the doors and put up the CLOSED sign.
Looking at new ways of doing things, developing solutions to problems is what characteristic?
Goal-Oriented
Creative
Responsible
Independent
Not afraid to do new things is what characteristic?
Problem-solving & Decision-making Skills
Independent
Human Relations Skills
Risk Taker
Not giving up and keep trying is what characteristic?
Persistent
Creative
Self-Confident
Responsible
5. The objectives of the entrepreneur should be ________________
A. Specific and clear
B. Specific and long term
C. Short and blurred
D. Long and not specific
7. Which of the statement is true?
A. Before starting a business, the entrepreneur may not consult a professional for advice
B. Before starting a business, the entrepreneur should consult a professional for advice
C. Before starting a business, the entrepreneur must start selling when there are prospect buyers
D. none of the choices
What are Ethics?
Proper manners.
Behaviors and actions of a business when it interacts with the public.
Moral principles that drive our decisions and behaviors. Stealing is not only illegal, but unethical.
All of the above
An example of a professional network is
Snap Chat
You Tube
What are the two types of ways to make money?
Product and Surveys
Product and Service
Payment and Service
Paypal and Service
What is a product?
Do work for others and get paid for doing it.
Do work for others and get nothing for doing it.
Make or gather something that others are forced to buy
Make or gather something that others are willing to buy
What is a service?
Do work for others and get paid for doing it.
Do work for others and get nothing for doing it.
Make or gather something that others are forced to buy
Make or gather something that others are willing to buy
An entrepreneur is a
problem solver, innovator, risk taker, organizer of the factors of production
risk taker and employee
manager
government bureaucrat
An entrepreneur invests
money, time, and energy
food, money, and a car
a checking account and steady hand
money, liesure, and clothes
What is a consumer?
The people who buy or use a good or service
The science of how people use resources to satisfy a need or want
Money, tools, and buildings
All of the following are characteristics of an entrepreneur except
Creative
Innovative
Flexible
Impatient
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
Which of the following is the reason for business failure __________
Lack of market research.
Poor financial control.
Poor management
All the above.
Good sources of information for an entrepreneur about competitors can be obtained from_________.
Websites.
Product information leaflets.
Company reports and published accounts.
All the above.
Innovation can best be defined as_______.
the generation of new ideas.
the evolution of new ideas.
the opposite of creativity.
the successful exploitation of new ideas.
Which of these statements best describes the context for entrepreneurship?
Entrepreneurship takes place in small businesses.
Entrepreneurship takes place in large businesses.
Entrepreneurship takes place in a wide variety of contexts.
Entrepreneurship does not take place in social enterprises
Entrepreneurs are motivated by _________.
money.
personal values.
pull influences.
All the above.
Decisions taken by an entrepreneur on behalf of his enterprise are known as _________.
Organizational decisions.
Personal decisions.
Routine decisions.
Strategic decisions
Which one of the following describes unemployment?
The number of people who voluntarily choose not to work.
The number of people who are jobless and are actively seeking
The number of people who are not actively seeking
The number of people actively seeking work who find work.
Which one of the following is not considered as one of the building blocks of the model entrepreneur?
technical skills
management competencies.
business awareness.
personal attributes.
A valid definition of a business purpose is to ______.
create a customer.
maximize profits.
increase the wealth of the firm.
An individual who initiates, creates and manages a new business can be called _____________.
A leader
A manager
An entrepreneur
A professional
Trademarks relate to _______.
Practice and knowledge acquired through experience
The protection of proprietary information of commercial value
The right to reproduce ones own original work
Brand identity
What challenges does an entrepreneur have?
all of the above
drive
responsibility
money
What entrepreneur qualities do YOU need ?
Determination
Self-discipline
Team-working skills
All of the above
Natalia bought an iPad from Shoppe. He received a broken iPad when he opened his packaging. He is upset and angry.
If you are the owner of the store, how will you deal with this problem?
Shout back at Jonah and ask him to apologies for being rude.
Apologies and replace the broken item with a new one.
Apologies, cry and run away.
Shut the doors and put up the CLOSED sign.
Looking at new ways of doing things, developing solutions to problems is what characteristic?
Goal-Oriented
Creative
Responsible
Independent
Not afraid to do new things is what characteristic?
Problem-solving & Decision-making Skills
Independent
Human Relations Skills
Risk Taker
Not giving up and keep trying is what characteristic?
Persistent
Creative
Self-Confident
Responsible
5. The objectives of the entrepreneur should be ________________
A. Specific and clear
B. Specific and long term
C. Short and blurred
D. Long and not specific
7. Which of the statement is true?
A. Before starting a business, the entrepreneur may not consult a professional for advice
B. Before starting a business, the entrepreneur should consult a professional for advice
C. Before starting a business, the entrepreneur must start selling when there are prospect buyers
D. none of the choices
What are Ethics?
Proper manners.
Behaviors and actions of a business when it interacts with the public.
Moral principles that drive our decisions and behaviors. Stealing is not only illegal, but unethical.
All of the above
An example of a professional network is
Snap Chat
You Tube
What are the two types of ways to make money?
Product and Surveys
Product and Service
Payment and Service
Paypal and Service
What is a product?
Do work for others and get paid for doing it.
Do work for others and get nothing for doing it.
Make or gather something that others are forced to buy
Make or gather something that others are willing to buy
What is a service?
Do work for others and get paid for doing it.
Do work for others and get nothing for doing it.
Make or gather something that others are forced to buy
Make or gather something that others are willing to buy
An entrepreneur is a
problem solver, innovator, risk taker, organizer of the factors of production
risk taker and employee
manager
government bureaucrat
An entrepreneur invests
money, time, and energy
food, money, and a car
a checking account and steady hand
money, liesure, and clothes
What is a consumer?
The people who buy or use a good or service
The science of how people use resources to satisfy a need or want
Money, tools, and buildings
All of the following are characteristics of an entrepreneur except
Creative
Innovative
Flexible
Impatient
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
Which of the following is the reason for business failure __________
Lack of market research.
Poor financial control.
Poor management
All the above.
Good sources of information for an entrepreneur about competitors can be obtained from_________.
Websites.
Product information leaflets.
Company reports and published accounts.
All the above.
Innovation can best be defined as_______.
the generation of new ideas.
the evolution of new ideas.
the opposite of creativity.
the successful exploitation of new ideas.
Which of these statements best describes the context for entrepreneurship?
Entrepreneurship takes place in small businesses.
Entrepreneurship takes place in large businesses.
Entrepreneurship takes place in a wide variety of contexts.
Entrepreneurship does not take place in social enterprises
Entrepreneurs are motivated by _________.
money.
personal values.
pull influences.
All the above.
Decisions taken by an entrepreneur on behalf of his enterprise are known as _________.
Organizational decisions.
Personal decisions.
Routine decisions.
Strategic decisions
Which one of the following describes unemployment?
The number of people who voluntarily choose not to work.
The number of people who are jobless and are actively seeking
The number of people who are not actively seeking
The number of people actively seeking work who find work.
Which one of the following is not considered as one of the building blocks of the model entrepreneur?
technical skills
management competencies.
business awareness.
personal attributes.
A valid definition of a business purpose is to ______.
create a customer.
maximize profits.
increase the wealth of the firm.
A Super team is...
a group of superheroes
your employees in your business
group of entrepreneurs who have similar business interests or customers
all the local entrepreneurs with the same business
One important rule to network effectively is
a. talk to the same people
b. keep in touch with your contacts
c. focus on selling your product
d. identify your competitors
Networking is..
a. making new enemies
b. identifying your competition
c. making connections with other businesses and customers
d. joining a social network
A tagline is..
a. a plastic tag you attach to your product
b. a meme making fun of your business
c. a description of your business
d. a joke
Anitha started an instagram page for her crafts business. She used ________ marketing strategy
a. online marketing
b. taglines
c. poster
d. networking
You are a lifelong learner if you..
a. get a PhD
b. make a lot of money
c. live for a long time
d. keep growing and adding to your knowledge
One of the benefits of being a lifelong learner is
a. becoming a better decision maker
b. becoming famous
c. making lots of friends
d. staying physically fit
When you have confidence in your own abilities and trust in yourself, you have
a. open mindedness
b. Proactiveness
c. belief in yourself
d. optimism
Which of the following is not a resource
a. raw materials
b. customer database
c. profit earned
d. your bed
Human resources are
a. your neighbours
b. your staff, employees and other helpers
c. your customers
d. your competitors
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.
