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WorksheetsMock Test in Entrepreneurship
Total questions: 50
Worksheet time: 25mins
The French word “Entrependre” means:
To innovate
To undertake
To create
To lead
Entrepreneurship is best defined as:
A stable employment activity
The process of pursuing opportunities regardless of current resources
An act of organizing a government project
Running a family-owned business only
An entrepreneur is often described as:
A secure worker
A risk-taker with a business idea
Someone who avoids risks
A passive business partner
One way entrepreneurship improves the economy is by:
Decreasing innovation
Limiting opportunities
Creating jobs
Avoiding risks
Developing managerial skills through entrepreneurship refers to:
Improving physical strength
Learning business management
Improving artistic skills
Ignoring leadership qualities
Which of the following is a business management skill?
Drawing and Painting
Decision Making
Singing and Dancing
Memorization
A personal entrepreneurial skill is:
Cooking ability
Inner Control
Memorizing facts
Typing speed
A visionary leader is someone who:
Copies the ideas of others
Has a clear foresight for the future
Avoids making decisions
Focuses only on the present
Entrepreneurship improves society by:
Increasing poverty
Generating new wealth
Limiting opportunities
Ignoring innovation
Which is NOT a type of skill required in entrepreneurship?
Technical Business Management
Oral Communication
Network Building
Sleeping early
A venture refers to:
A stable company
A new business
An abandoned project
A government program
Entrepreneurial ideas lead to:
Employment termination
Identification of opportunities
Government laws
End of business cycle
The process of creating a new venture begins with:
Opening the business immediately
Identifying opportunities
Collecting taxes
Writing reports
An entrepreneurial mind frame is:
A pessimistic outlook
A positive and optimistic mindset
A lazy attitude
Avoidance of risks
Entrepreneurial hear flame refers to:
Being forced to work
Driven passion and satisfaction in discovery
Ignoring personal interests
Technical training only
Entrepreneurial gut game means:
Decision-making through intuition
Depending on luck
Avoiding challenges
Copying competitors
One source of entrepreneurial opportunity is:
Stable traditions
Past experience
Ignoring trends
Routine repetition
A societal environment includes:
Climate
Natural resources
Political and economic forces
Wildlife
Porter’s Five Forces were created by:
Peter Drucker
Michael Eugene Porter
Philip Kotler
Steve Jobs
In Porter’s Five Forces, buyers are:
Competitors
Suppliers of raw materials
People who pay for goods or services
Government regulators
Value proposition refers to:
The total market size
The overall value of a product or service
The packaging of a product
The cost of production
Unique Selling Proposition (USP) is about:
How you sell your product differently
Copying competitors
Setting random prices
Government policies
Geographic segmentation divides markets based on:
Gender and income
Political beliefs
Location and climate
Buying habits
Demographic segmentation includes:
Brand concept
Age, gender, income
Climate
Perception
Psychological segmentation considers:
Occupation
Social class and lifestyle
Ethnic group
Family size
Behavioral segmentation focuses on:
Climate
Loyalty and responses
Age and gender
Occupation
A customer’s service requirement is:
Tangible product
Intangible experience or fulfillment
Visible product features
Physical packaging
A customer’s output requirement is:
Intangible benefit
Tangible product or result
Customer attitude
Market share
The first step in estimating market size is:
Estimating customers who dislike the product
Estimating the potential market
Measuring profit
Counting competitors
Market share refers to:
A competitor’s product
The portion of the market your business can capture
The government’s ownership
The size of your factory
Market research is the process of:
Copying competitors
Gathering and analyzing information about products and services
Government regulation
Random surveys without purpose
The most common way to gather primary data is:
Interview
Focus Group Discussion
Survey
Observation only
One of the most reliable ways of getting information is:
Interview
Guesswork
Rumors
Copying online data
Focus group discussion is excellent for:
Recording expenses
Generating and screening ideas
Avoiding market data
Counting raw materials
Data collection is considered:
A minor tool
The most valuable tool in research
An optional step
A government responsibility
Business viability refers to:
Long-term survival and profits
A short-term sale
A failed enterprise
A government program
Profitability means:
Breaking even only
Gaining money or benefits
Avoiding risks
Stopping production
One factor in product viability analysis is:
Consider product size and weight
Ignore product fragility
Avoid market study
Eliminate packaging
Seasonality refers to:
The lifespan of an entrepreneur
Demand changes based on time of year
The weight of the product
Government support
A high price point usually indicates:
Less profitability
Higher perceived value
No competition
No innovation
Marketing Mix is defined as:
Government taxes
A set of means and actions to promote business
Employee salaries
The legal system
The first P (Product) refers to:
Only the brand name
Goods or services offered to customers
The packaging alone
Market size
The introductory stage of a product is when:
The product is declining
The product first enters the market
The business closes
Customers reject it
Price Skimming is when:
A new product is introduced at a high price
A product is sold very cheaply
Competitors copy the product
A business avoids pricing
Price Penetration strategy means:
Selling at a high price to a limited market
Selling at a lower price to attract more buyers
Ignoring costs
Offering products for free
Promotion in the 7P’s includes:
Sales promotions, advertising, direct marketing
Packaging design only
Customer loyalty only
Business taxes
People in the 7P’s refers to:
Employees and customers
Machines only
Raw materials only
Government officials
Packaging is considered the:
Silent hero in marketing
Least important factor
Government requirement only
Extra cost without benefit
One function of packaging is:
To confuse customers
To protect the product
To reduce brand recognition
To increase product weight unnecessarily
Positioning means:
Presenting products differently from competitors
Copying competitor promotions
Randomly pricing a product
Selling without research
