Top 250+ Solved Entrepreneurship and Small Business Management MCQ Questions Answer

From 76 to 90 of 223

Q. Which of the following is NOT one of the definitions of 'business models' as identified in the text?

a. The system of components, linkages and associated dynamics, which that make commercial advantage of the Internet.

b. A business model describes the rationale of how an organization creates, delivers and captures value.

c. Business models identify where the resources necessary to establish a venture will come from.

d. Business models describe, as a system, how the pieces fit together.

  • c. Business models identify where the resources necessary to establish a venture will come from.

Q. Which of the following statements is true?

a. The entrepreneurial process starts with creativity and the task of generating new ideas.

b. The creativity process starts with innovation and the task of generating new ideas.

c. The idea generation process starts with creativity and the task of innovation.

d. The innovation process starts with creativity and the task of generating new ideas.

  • d. The innovation process starts with creativity and the task of generating new ideas.

Q. What are markets made up of?

a. Customers and competitors

b. Customers and potential customers

c. Customers, competitors and suppliers

d. Customer, competitors, suppliers and regulators

  • b. Customers and potential customers

Q. Product development process involves

a. One stage

b. Two stage

c. Three stage

d. Four stage

  • d. Four stage

Q. Incubation stage deals with

a. Sample development

b. Idea development

c. Prototype Development

d. None of the above

  • c. Prototype Development

Q. Product design defines

a. Micro activities of the project

b. Macro activities of the project

c. Allied activities of the project

d. Individual activities of the project

  • a. Micro activities of the project

Q. Feasibility study is defined as

a. Formal investigation of profitable opportunity

b. Informal investigation of profitable opportunities

c. Intensive investigation of profitable opportunities

d. None of the above

  • a. Formal investigation of profitable opportunity

Q. Project selection is

a. Product idea is used as a basis for project idea

b. Project idea is used as a basis for product idea

c. Both are the same

d. None of the above

  • a. Product idea is used as a basis for project idea

Q. General criteria is concerned with

a. Entrepreneur’s own interests

b. Economic development of the country

c. Business environment of the country

d. None of the above

  • a. Entrepreneur’s own interests

Q. Which one of the following would not be considered an advantage to a partnership formation?

a. Potential for double taxation

b. Less governmental control

c. Ease of formation

d. Direct share of profits

  • a. Potential for double taxation

Q. Which one of the following would not be considered a disadvantage of a corporation?

a. Limited continuality of life of enterprise

b. Extensive government regulations of activities

c. High incorporation fees

d. Corporate capital, profits, dividends, and salaries are double taxed

  • a. Limited continuality of life of enterprise

Q. Of the following, which one would not be considered an alternative to independententrepreneurship?

a. Franchise

b. Spin-off

c. Intrapreneurship

d. Extrapreneurship

  • b. Spin-off
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