TLE (4) - Entrepreneurship
1) In the entrepreneurial world, new ideas and opportunities are evolving. What is the ability to create new things, invest in new enterprises and expand business?
a. Creativity
b. Entrepreneurship✔
c. Manufacturing
d. Producing
2) Alvin has transferred to a new locality. He observed that there is an opportunity for him to put up his own business since he has enough capital and very much interested to the idea. Which of these factors must he possess so that he will not rely on the services of the employees?
a. Markets
b. Manpower
c. Supply of resources
d. Knowledge/Skills✔
3) Management functions and principles play a very critical role in running a business. What principle of planning specifies that the objectives of an entrepreneur should match the needs of the society?
a. must be realistic
b. must be based on felt needs✔
c. must focus on dealing with a crisis
d. must start with a simple project
4) Entrepreneurs use various management tools to succeed in a business. What management tool is used to analyze business opportunities?
a. Environmental scanning
b. Market study
c. Market survey
d. SWOT✔
5) When an entrepreneur communicates with people through interviews, observations and advertisement on what is new, what entrepreneurial activity does he/she engage?
a. Statistical study
b. Marketing study✔
c. Entrepreneurial scanning
d. Environmental scanning
6) There are P's in preparing market research. Which P in marketing is designed to communicate the product to customers?
a. Place
b. Price
c. People
d. Promotion✔
7) The site of the business enterprise is one of the requirements of entrepreneurship. Which of the following is the most important in choosing the best location for the business?
a. access to supplies and raw materials✔
b. clean, decent and peaceful environment
c. less competitors in the area
d. enough capital to pay space rental
8) Which term refers to people, institutions or organizations for whom the business is designed?
a. sample
b. population
c. market✔
d. society
9) Which one is not included in planning a business?
a. how and when to do it
b. how to increase profits✔
c. what to expect in the future
d. what to do
10) What is the benefit of business planning wherein the entrepreneur determines whether the business is profitable or not?
