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
   82   83   84   85   86   87   88   89   90   91   92