Unit 4: Entrepreneurial Skills-II MCQs(Part-1)
53. ________________ is the type of self-employment where one is running a business to satisfy the needs of people and looking for ways to make the business better to make profits.
- Partnership
- Fellowship
- Entrepreneurship
- Business
Answer: (c) Entrepreneurship
54. Which of the following is not one of the qualities of an entrepreneur?
- Confidence
- Trying new ideas
- Take responsibilities
- Spend more time on physical exercises
Answer: (d) Spend more time on physical exercises
55. Entrepreneurs believe in themselves and their abilities. This quality refers to
- They are confident
- They are creative
- They do not give up
- They keep trying new ideas
Answer: (a) They are confident
56. Shreyas is working for ABC Ltd. and getting paid for his work. Here Shreyas is
- Self-Employed
- Wage-Employed
- Businessman
- Partner
Answer: (b) Wage-Employed
57. Aditya has started a business to satisfy the needs of people and always trying to make his business better by taking risks and trying new ideas. Here Aditya is
- Entrepreneur
- Businessman
- Employee
- Partner
Answer: (a) Entrepreneur
58. Ajay and Vijay both own a shop. Vijay sits at his shop and when customers come, he sells the items. Ajay walks around and gets his customers to his shop. Here Ajay is _______________ and Vijay is _________.
- Businessman, Entrepreneur
- Entrepreneur, Businessman
- Salesman, Businessman
- Businessman, Salesman
Answer: (b) Entrepreneur, Businessman
59. An entrepreneur understands the market by customer’s
- Needs
- Wants
- Demands
- All of these
Answer: (d) All of these
60. _______________ means a product or service that people want.
- Demand
- Supply
- Sales
- Purchase
Answer: (a) Demand
61. Entrepreneurs find out what people want. Then, they use their creativity to come up with a business idea that will meet that demand. This is called
- Help Society
- Use local materials
- Fulfil customer needs
- Create jobs
Answer: (c) Fulfil customer needs
62. Aish is purchasing flowers and other local materials from local farmers and taking the help of local people by paying them wages for her event management firm at a low cost. Here she is focusing on
- Help Society
- Use local materials
- Fulfil customer needs
- Create jobs
Answer: (b) Use local materials
63. State True or False – Entrepreneurs can create jobs in the market.
- True
- False
Answer: (a) TRUE
64. Het has started a firm where he is providing internet services. A customer came to his office and shouted at him. He listened to him silently without anger. He is ___________________
- Hardworking
- Confident
- Patient
- Trying new ideas
Answer: (c) Patient
65. Anjali has started selling jewelry along with her beauty parlor but could not sell as expected and had a great loss. She apologizes to her beauty parlor customers and promised to do better next time. Here she
- Takes responsibility for her mistakes
- Thinks before making a decision
- Does not give up
- Is creative
Answer: (a) Takes responsibility for her mistakes
66. Alpesh owns an agricultural products firm. He hired a few people for his team and paid them salaries every month. Which function of an entrepreneur is he performing here?
- Create a product
- Manage business
- Take risks
- Make a decision
Answer: (b) Manage business
67. Prakash is a new entrepreneur. He is running his business in Ahmedabad and purchasing raw materials from Jaipur. But recently he found the same material is available in Baroda at a lower price. He decides to start buying material from Baroda. Which function of an entrepreneur is he performing here?
- Manage business
- Controlling
- Making a decision
- Taking risks
Answer: (c) Making a decision