Reference no: EM132804179

Questions -

Q1. The longest lasting trade agreement with the objective of liberalizing trade by eliminating or reducing tariffs, subsidies and quotas is:"

a. Free trade area FTA

b. European community EC

c. General agreement on tariffs and trade GATT

d. The North American free trade agreement NAFTA

Q2. 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

Q3. _____ viewed the entrepreneur as a risk taker who buy(s) at an uncertain price, therefore operating at a risk.

a. Eli Whitney

b. Edward hariman

c. Richard cantillon

d. Thomas Edison

Q4. All of the following are the broad categories of External forces EXCEPT:

a. Economic forces

b. S Socioeconomic forces

c. Technological forces

d. competitive forces

Q5. Gazelles are the firms with:

a. High growth rate

b. M moderate growth rate

c. Zero% growth rote

d. Low growth r

Q6. A contract must be signed by:

a. At least one party

b. Both the parties

c. Not necessary to sign

d. By third party

Q7. A patent is granted for a specified amount of time because of the assumption:

a. That during this time firm will cover its development costs

b. That firm will earn a sufficient profit during this period

c. To limit the monopoly of the firm

d. That it will stimulate idea and development of a better product

Q8. A typical inventor is usually____________.

a. Highly creative & in love with the invention

b. Does not encourage change

c. Willing to modify the invention

d. Not enthusiastic

Q9. An entrepreneur into the hosiery business found out the reason his hosiery was not selling was due to its color. What could be the best source of this information?

a. Supplier

b. Retailer

c. Competition

d. Government bureau

Q10. Andrew Carnegie is an example of entrepreneur of which century:

a. Earliest period

b. 19th and 20th century

c. Middle ages

d. 17th century

Q11. A ____ is a professional money manager who makes risk investment from a pool of equity capital to obtain a high rate of return on investments.

a. venture capitalist

b. entrepreneur

c. businessman

d. buyer

Q12. Developing a new idea through inquiry and testing is called:

a. Forced relationship

b. Heuristics

c. Scientific method

d. Value analysis

Q13. Entrepreneurial success has been significant because of the culture and the political and economic systems in ________.

a. Asian countries

b. European countries

c. Transition economies

d. Middle East

Q14. External forces directly affect all of the following EXCEPT:

a. market segmentation strategies

b. Types of products/services offered

c. management structure of organization

d. Choice of businesses to acquire or sell

Q15. Female entrepreneurs differ from male entrepreneurs in terms of all of the following EXCEPT:

a. Motivation

b. business skills

c. Departure point

d. Goal orientation

Q16. Following are the types of non equity arrangements EXCEPT:

a. Licensing

b. T turnkey project

c. Direct export

d. Management contracts

Q17. Foundation companies are formed from:

a. Fashion

b. Research and development

c. Most popular business

d. winding up company

Q18. Government can help in forming new venture by providing:

a. finance

b. technology

c. infrastructure

d. funds

Q19. Government can help in forming new venture by providing:

a. Finance

b. Technology

c. Infrastructure

d. Subsidiaries

Q20. Members of distribution channels are excellent sources for new ideas because:

a. They are familiar with the needs of the market

b. They earn a handsome profit from new business

c. They do not bother if entrepreneur bears a loss

d. They have well-developed sales force

Q21. Professional support network includes following EXCEPT:

a. Personal affiliations

b. Mentor

c. Friends

d. Trade associations

Q22. The activity which occurs when the new venture is started are called:

a. Business skills

b. Motivation

c. Departure point

d. Goal orientation

Q23. The business plan should be prepared by:

a. Entrepreneurs

b. Consultants

c. Engineers

d. Small business administration services

Q24. The commitment of administrative domain to the resources is for:

a. Periodic intervals

b. Total amount needed

c. For certain tasks

d. For long time

Q25. The former USSR received technology and syrup from Pepsi and provided it with Soviet vodka and rights to distribute it in the US. This is an example of:

a. Economic development

b. Balance of payment

c. Barter system

d. International trade

Q26. The importance of intellectual property should be understood by entrepreneur even before:

a. Hiring a manager

b. Engaging an attorney

c. Developing a product

d. Establishing new venture

Q27. The period in which the money person entered into a contract with the go-between to sell his goods is known as

a. Middle ages

b. 18th century

c. 17th century

d. Earliest period

Q28. The transitional disturbance and lack of reform has led to boom black market in:

a. China

b. Hungary

c. Singapore

d. Poland

Q29. What is the primary concern of founders who trade equity for capital for their growing venture?

a. Capitalization

b. Control

c. Valuation

d. Investor capabilities

Q30. Which of the following areas are preferred by women entrepreneurs?

a. Administration

b. Organization

c. Utilities

d. Manufacturing

Q31. Which of the following cannot be covered under the copyright protection?

a. Computer software

b. Poems and songs

c. Computer hardware

d. Models and sculpture

Q32. Which of the following factors does not affect a person for being an entrepreneur?

a. Gender

b. Education

c. Family background

d. values

Q33. Which of the following factors does not affect a person for being an entrepreneur?

a. Work history

b. Nationality

c. Education

d. Personal values

Q34. Which of the following factors has allowed small companies to act like they are big ones?

a. Customers

b. Competition

c. Economic development

d. Technology

Q35. Which of the following geographical area is having least interest to U.S. entrepreneurs?

a. Europe

b. The Far East

c. Central Asia

d. Transition economies

Q36. Which of the following is alternatively called corporate venturing?

a. Intrapreneurship

b. Entrepreneurship

c. Act of stating a new venture

d. Offering new products by an existing company

Q37. Which of the following is not a source of idea generation?

a. Consumers

b. Federal government

c. Brain storming

d. training

Q38. Which one of the following is NOT a condition of a contract?

a. An offer is made

b. Consideration is given

c. An acceptance of offer

d. Contract must be illegal

Q39. Which one of the Following is not the way by which an entrepreneur can enter into international business?

a. Export

b. Non equity arrangements

c. Direct foreign investment

d. Communication

Q40. Which one of the following is the fourth step in the entrepreneurial process?

a. Developing successful business ideas

b. Initiating New rules

c. Deciding to become an entrepreneur

d. Growing the entrepreneurial firm