Top 250+ Solved Entrepreneurship and Small Business Management MCQ Questions Answer
Q. All but which of the following is considered to be a myth associated with entrepreneurship?
a. Successful entrepreneurs are born not made
b. First ventures are always successful
c. All entrepreneurs must willingly invest significant sums of money
d. Successful entrepreneurs must have a break-through invention
Q. An ______ is best described by stating it is any business that is independently owned and operated and is not dominate in its market.
a. strategic alliance
b. corporation
c. entrepreneurship
d. proprietorship
Q. For small business owners, one of the most important objectives is _______.
a. market presence
b. growth
c. profitability
d. adaptability
Q. Which of the following is not considered a common characteristic of an entrepreneur?
a. Internal locus of control
b. High need for achievement
c. Self-confidence
d. External locus of control
Q. The entrepreneur who is committed to the entrepreneurial effort because it makes good business sense is classed as a/an _____.
a. inventor
b. opportunist
c. hacker
d. craftsman
Q. Melissa is one of the newest and most successful entrepreneurs in the technology industry. She handles numerous dealings with other companies for the exchange of goods and services. Her primary goal is to ensure that all parties involved receive favorable and acceptable terms. Melissa is most probably excellent at the entrepreneurial skill of _______.
a. negotiating
b. networking
c. leadership
d. analysis
Q. The ideas for new businesses that are obtained by entrepreneurs are derived from many sources. These various sources include all but _______.
a. replication of an existing business
b. trade journals
c. trade shows
d. family members
Q. Which of the following shows the process of creating something new?
a. Business model
b. Modeling
c. Innovation
d. Creative flexibility
Q. Which one of the following theory has the attribute of moderate risk taking as a function of skill, not chance?
a. Need for independence
b. Need for achievement
c. Need for affiliation
d. Need for authority
Q. In which of the following domain; individuals take decision to help others for achieving their dreams?
a. Traditional managers
b. Entrepreneurs
c. Intrapreneurs
d. Administrative managers
Q. An entrepreneur is a person who is a:
a. Risk taker
b. Initiator
c. Actor
d. All of the given options
Q. Which one of the following is NOT an intrapreneurial leadership characteristic?
a. Understands environment
b. Encourage the team work
c. Not flexible
d. Persistent
Q. All but which of the following is considered to be a myth associated with entrepreneurship?
a. Successful entrepreneurs are born not made
b. First ventures are always successful
c. All entrepreneurs must willingly invest significant sums of money
d. Successful entrepreneurs must have a break-through invention
Q. A/An ______ is best described by stating it is any business that is independently owned and operated and is not dominate in its market.
a. strategic alliance
b. corporation
c. entrepreneurship
d. proprietorship
Q. Which of the following is not considered a common characteristic of an entrepreneur?
a. Internal locus of control
b. High need for achievement
c. Self-confidence
d. External locus of control