Top 250+ Solved Entrepreneurship and Small Business Management MCQ Questions Answer
Q. Which of the following is the reason for business failure __________.
a. Lack of market research.
b. Poor financial control.
c. Poor management.
d. All the above.
Q. Goods or services reach the market place through ________.
a. marketing channels.
b. multilevel pyramids.
c. monopolies.
d. multiplication.
Q. To provide financial assistance to entrepreneurs the government has set up a number of___________.
a. financial advisors.
b. financial intermediaries.
c. Industrial estates.
d. financial institutions.
Q. State Industrial corporations engage in the development of__________.
a. industrial estates.
b. institutional estates.
c. individual investors.
d. agricultural entrepreneurs
Q. Competitor analysis begins with:
a. Gathering samples of the competitors’ product(s).
b. Discovering each competitors advertising budget.
c. Documenting the current strategy of each primary competitor.
d. Identifying which competitors are most successful.
Q. Marketing research begins with:
a. Setting the advertising budget.
b. Definition of objectives or purpose.
c. Identifying direct marketing strategy.
d. Collecting a list of primary and secondary sources of information.
Q. Which stage of marketing research is considered to be the most difficult for an entrepreneur due to lack of knowledge or experience in marketing?
a. Analyzing and interpreting the results
b. Gathering data from primary sources
c. Gathering data from secondary sources
d. Defining the purpose or objectives
Q. The major interacting components that enable a firm to successfully provide products to the marketplace are called the:
a. Marketing plan.
b. Marketing mix.
c. Marketing system.
d. Marketing structure
Q. The marketing mix consists of:
a. Product, price, research, and promotion.
b. Product, research, distribution, and promotion.
c. Product, price, distribution, and promotion.
d. Product, price, distribution, and research.
Q. Market segmentation is the process of:
a. Describing market conditions.
b. Dividing the market into smaller homogeneous groups.
c. Presenting future opportunities.
d. Exploring new market opportunities.
Q. The management team of a new venture:
a. is encouraged to operate the business as a sideline.
b. must operate the business full-time.
c. can expect to draw a large salary.
d. should be employed elsewhere to assure adequate income.
Q. The _____ budget is used to project cash flows for the cost of goods produced.
a. operating
b. production
c. capital
d. depreciation
Q. Fixed expenses:
a. Are incurred regardless of sales volume.
b. Can be estimated by taking into consideration the production.
c. Includes labor, raw materials, and commissions.
d. Must be linked to strategy in the business plan