Page 87 - IT 402 v2.0 class 10
P. 87
Solved Exercise
Section A
(Objective Type Questions)
A. Multiple choice questions:
. n individual who initiates creates and manages a new business can be called ........................... .
i. a leader ii. a manager
iii. an entrepreneur iv. a professional
. hich of the following is the reason for business failure
i. ack of market research ii. oor financial control
iii. oor management iv. ll of these
. hy are small businesses important to a country s economy
i. hey give an outlet for entrepreneurs. ii. hey can provide specialist support to larger companies.
iii. hey can be innovators of new products. iv. ll of these
. business arrangement where one party allows another party to use a business name and sell its products or
services is known as ................................ .
i. a cooperative ii. a franchise
iii. an owner-manager business iv. a limited company
5. he use of informal networks by entrepreneurs to gather information is known as ................................ .
i. secondary research ii. entrepreneurial networking
iii. informal parameters iv. marketing
. he two important personality traits that entrepreneurs possess are ............................ and ............................. .
i. optimism uncertainty ii. creativity gloom
iii. motivation distrust iv. perception and Intuition
. ntrepreneurs also invest in community pro ects and provide financial support to ................................ .
i. community ii. charities
iii. co-operation iv. industry
. hich of these statements best describes the context for entrepreneurship
i. ntrepreneurship takes place in small businesses.
ii. ntrepreneurship takes place in large businesses.
iii. ntrepreneurship takes place in a wide variety of contexts.
iv. ntrepreneurship does not take place in social enterprises.
. hich industrial sector tends to naturally promote small-scale businesses and entrepreneurship and generally
has lower barriers to market entry
i. Service ii. Manufacturing
iii. istribution iv. griculture
Entrepreneurship 85

