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Exercise




                                                         Solved Questions


                                                  SECTION A (Objective Type Questions)
                       uiz
                 A.   Tick ( ) the correct option.
                     1.   What  is the  process of  developing  a  business plan,  starting  and  running  a  business with  innovation,  meeting
                          customer needs and generating profits called?
                          a.  Entrepreneurship                           b.  Capitalism
                          c.  Democracy                                  d.  Entrepreneur


                     2.   A               is a detailed plan of what entrepreneurs want to achieve in a company and how to achieve it.
                          a.  plan                                       b.  Community plan
                          c.   business plan                             d.  Either a or b

                     3.                  is an exercise entrepreneurs do to understand if there is a market for what they have to offer.
                          a.  Competition survey                         b.  Population survey
                          c.  Both a and b                               d.  Surveying customers

                     4.   After starting a business, entrepreneurs need to think about how to continue to     and grow by
                          adding value to their business for attracting  customers.

                          a.  adjust                                     b.  improve
                          c.  grow                                       d.  plan
                     5.   Business idea can be a product, service, or       .

                          a.  Dynamic model                              b.  Eco model
                          c.  Hybrid model                               d.  All of these

                     6.                  means understanding a situation or problem by asking questions like why, what,
                          when, how, and investigating the situation or the reason for the problem.

                          a.  Critical Thinking                          b.  Creative Thinking
                          c.  Analytical Thinking                        d.  Logical Thinking
                     7.   Which needs are met through different products or services, but customers are not completely
                          satisfied and still have problems using them?
                          a.  Fulfilled needs                            b.  Unfulfilled & known needs

                          c.  Unknown needs                              d.  Partially fulfilled needs
                     8.   If an idea is innovative and the way it is implemented is also innovative, the growth opportunities
                          of the business will           .
                          a.  decrease                                   b.  increase
                          c.  Neither a or b                             d.  Both a and b








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