1 Match the items of List – I with the items of List – II and select the code of correcting matching:
List – I List – II
a. Richard Cantillon i. Entrepreneur must accept the challenge and should be willing hard to achieve something
b. Joseph A. Schumpeter ii. Entrepreneurs are all those persons who are engaged in economic activity.
c. J.K. Golbraith iii. Entrepreneur is a person who introduces innovation and change. Codes: a b c
(1) iii i ii
(2) i iii ii
(3) ii iii i
(4) ii i iii
Answer: (3)
2 Total Quality Management, job redesigning, new techniques of doing things and management by consensus are the examples of which one of the following?
(1) Opportunistic entrepreneurship
(2) Administrative entrepreneurship
(3) Incubative entrepreneurship
(4) Mass entrepreneurship
Answer: (2)
3. Under technology and quality upgradation support to help manufacturing MSMEs buy energy efficient technologies for production, what percentage of the actual expenditure is provided as financial support by the Government of India?
(1) 75%
(2) 60%
(3) 50%
(4) 25%
Answer: (2)
4. Which one of the following is not a personal characteristic of an entrepreneur?
(1) Innovative
(2) Hardworking
(3) Practical
(4) Submissive
Answer: (4)
5. Which one of the following is the most insignificant reason for sickness in SSI sector?
(1) Power shortage
(2) Lack of demand
(3) Management problems
(4) Equipment problems
Answer: (3)
6 Which one of the following is not correct about voluntary retirement scheme in public enterprises? (1) It was designed to help enterprises rationalise their surplus manpower.
(2) Salary for the purpose of VRS consists of basic pay only.
(3) Benefits are in addition to money that has accrued to provident fund.
(4) Benefit is tax-free severance payment.
Answer: (2)
7 The SFURTI programme of the government is to boost production in which one of the following industries?
(1) Auto-components industry
(2) Industries using renewable energy
(3) Khadi and village industry
(4) Construction industry
Answer: (3)
8 Match the items of List – I with the items of List – II and identify the correct code of combination: List – I List – II
a. Entrepreneurship and Dynamic Capitalism i. A.D. Chandler Jr.
b. The Affluent Society ii. J.K. Galbraith
c. Theory of Economic Development iii. Joseph Schumpeter
d. The Dynamics of Industrial Capitalism iv. B.A. Kirchhoff
Codes:
a b c d
(1) i iii ii iv
(2) i ii iii iv
(3) iv iii ii i
(4) iv ii iii i
9Answer: (4)
10. Statement – I: Entrepreneurs recognize opportunities where others see chaos or confusion. Statement – II: Entrepreneurs bring aggressive capital for the existing business in traditional market place.
Codes:
(1) Statement – I is correct but II is not correct.
(2) Statement – II is correct but I is not correct.
(3) Both the Statements are correct.
(4) Both the Statements are incorrect.
Answer: (1)
11 Match the following and indicate the code of correct matching: List – I List – II
a. INTUC i. Bhartiya Janta Party
b. AITUC ii. Communist Party of India
c. BMS iii. Indian National Congress
d. CITU iv. Communist Party of India (Marxist)
Codes: a b c d
(1) iii ii i iv
(2) iii i ii iv
(3) iii iv ii i
(4) iii iv i ii
Answer: (1)
12. Which is the apex body in India for formulating the policy in respect of entrepreneurship develop- ment?
(A) Reserve Bank of India
(B) Small Industrial Development Bank of India
(C) National Entrepreneurship Board
(D) Industrial Development Bank of India
Answer: (C)
13. _______ means identifying and imitating the best in the world at specific tasks.
(A) Quality circle
(B) Bench marking
(C) Strategy
(D) Outsourcing
Answer: (B)
14. Which of the following factors can be regarded as a symptom of industrial sickness?
(A) Lowering the employee’s morale
(B) Delay and default in the payment of dues
(C) Continuous decrease in the price of its shares
(D) All of the above
Answer: (D)
15. Which of the following Bill was introduced in the Lok Sabha in 1985, with the objective to make a special provision to secure timely detection of sick and potentially sick companies and for setting up a board of experts for speedy determination of the preventive ameliorative and remedial measures?
(A) The Industrial Reconstruction Bank of India Bill
(B) NABARD Bill
(C) The Sick Industrial Companies (special provi- sions) Bill
(D) None of the above
Answer: (C)
16. Indicate the person who is considered as pioneer in the herbal beauty care in India and has achieved unprecedented international acclaim for her application of Ayurveda (the ancient Indian ‘Science of Life’ based on herbal remedies) in cos- metology and trichology:
(A) Sumati Morarji
(B) Shahnaz Hussain
(C) Yamutai Kirloskar
(D) Neena Malhotra
Answer: (B)
17. Which of the following is the main function of State Financial Corporations?
(A) Provide short-term finance to large-sized indus- trial units
(B) Provide long-term finance to small and medium sized industrial units.
(C) Undertake variety of promotional activities, like preparation of feasibility reports, conducting industrial potential surveys, etc.
(D) Develop industrial estates for providing land to a building Entrepreneurs.
Answer: (B)
18. Who propounded entrepreneurship as a theory of business?
(A) Daniel Goleman
(B) Joseph A. Schumpeter
(C) Thomas A. Coleman
(D) Warren Buffet
Answer: (B)
19. Who among the following is not the first genera- tion entrepreneur?
(A) Dhirubhai Ambani
(B) Shiv Nadar
(C) K. Anji Reddy
(D) G.D. Birla
Answer: (D)
20. Which of the following is not a possible route to market entry for a small business owner/ entre- preneur?
(A) Franchise
(B) Corporate Venture
(C) Outright Purchase
(D) Buy-out
Answer: (B)
21. The number of items which can be exclusively manufactured in the small scale sector are
(A) 20 items
(B) 35 items
(C) 50 items
(D) 62 items
Answer: (A)
22. Which of the following is an external reason for the sickness of a small business?
(A) Choice of an idea
(B) Inadequate finance
(C) Volatile business environment
(D) Lack of vertical and horizontal integration
Answer: (C)
23. Which of the following is not a misconception about entrepreneurship?
(A) ‘Successfulentrepreneurshipneedsonlyagreat idea.’
(B) ‘Entrepreneurship is an easy task.’
(C) ‘Entrepreneurship is found only in small busi- ness.’
(D) ‘Entrepreneurial ventures and small business are two different things.’
Answer: (D)
24. Pichot suggested three roles for the intrapreneur in promoting innovation.
Indicate the correct answer.
(A) Inventor, innovator and sponsor
(B) Inventor, product champion and sponsor
(C) Team builder, information source and advocate
(D) Mould breaker, change agent and sponsor
Answer: (B)
25. In which type of entrepreneurship formal struc- tural ties are loosened and champions are given the freedom to pursue opportunities both for the organization and through market?
(A) Administrative
(B) Acquisitive
(C) Opportunistic
(D) Incubative
Answer: (C)
26. The small scale sector is the __________ largest employer of human resources in the country.
(A) Single
(B) Second
C) Third
(D) Fourth
Answer: (B)
27 Which of the following is not a promotional meas- ure undertaken by the central government to pro- mote small enterprises?
(A) Supply of machinery on hire-purchase terms
(B) Technical consultancy and financial assistance
(C) Land available at cheaper rates for setting up a unit
(D) Assistance for domestic marketing as well as export
Answer: (C)
28. Who viewed entrepreneur as a non-fixed income earner with known costs of production but uncer- tain income and therefore, operating at a risk?
(1) Adam Smith
(2) Richard Contillon
(3) Jean-Baptiste Say
(4) FrancisWolker
Answer: (2)
29. Which one of the following types of entrepreneurs are not proactive in nature and does not respond much to changes in the environment?
(1) Fabian entrepreneur
(2) Adoptive entrepreneur
(3) Drone entrepreneur
(4) Innovative entrepreneur
Answer: (1)
30. SFURTI (Scheme of fund for regeneration of tra- ditional industries) is implemented by:
(1) Union Ministry of Traditional Industries
(2) National Agricultural cooperative Marketing Federation
(3) Federation of Indian Chamber of Commerce and Industry.
4) Union Ministry of Micro, Small and Medium Enterprises
Answer: (4)
31. What BIFR stands for?
(A) Bureau of Industrial Financial Reconstruction
(B) Board of Industrial Financial Reconstruction
(C) Bureau of Industrial Financial Re-engineering
(D) Board of Industrial Financial Re-engineering
Answer (B)
32. Which one of the following is not the reason for sickness of industries?
(A) Inadequate working capital
(B) Huge Market
(C) Out dated Technology
(D) Changing tastes of consumers
Answer(A)
33. Which analysis helps to understand the strength and weaknesses of a firm?
(A) Environment analysis
(B) Business analysis
(C) SWOT analysis
(D) None of the above
Answer(C)
34.What is the acronym for SIDBI?
(A) Short Investment Development Bank of India.
(B) Stock Investment Development Bank of India.
(C) Small Investment Development Bank of India.
(D) Small Industries Development Bank of India.
Answer(D)
35. Which of the following is an example of an external threat?
(A) New trade regulations
(B) Economies of scale
(C) Global sales potential
(D) Decreased competition
Answer (A)
36. Which of the following has been entrusted with the responsibility of developing and supporting small business?
(A) IDBI
(C) NABARD
(B) RBI
(D) SIDBI
Answer (D)
37. “Innovation and entrepreneurship” is a book written by
(A) Philip Kotler
(B) PradeepKhandwala
(C)C. K. Prahlad
(D) Peter F. Drucker
Answer (D)
38. 75. Which of the following is not related to business ethics?
(A) Social responsibility of business
(B) Environmental ethics
(C) Ecological consciousness
(D) Profiteering
Answer(C)
39. Which of the following is the cause of sickness of an enterprise?
(A) Lack of adequate capital
(B) Lack of demand for the products
(C) Lack of raw material
(D) All of the above
Answer (D)
40. A growth strategy is designed to increase
(A) The scale and scope of the Business operations.
(B) The corporate image of the business.
(C) Corporate social responsibility of business.
(D) None of the above.
Answer (A)
41. Cost leadership strategy is related to
(A) Functional strategy
(B) SBU strategy
(C) Corporate strategy
(D) Global strategy
Answer (C)
42.Countries derive their competitive advantage in international trade through their
(A) Comparative cost advantage
(B) Contribution to the World trade
(C) Natural endowments
(D) All of the above
Answer (D)
43. Industrial Policy of which year contained for the very first time a special thrust on measures for promoting and strengthening small tiny and village enterprises
(A) 1956
(B) 1991
(C) 1948
(D) 1977
Answer (D)
44. A retrenchment strategy is designed to reduce (A) Technical losses
(B) Financial losses
(C) The scale and scope of the business operation
(D) all of the above
Answer(D)
45. World Trade Organization provides
(A) Rule based multilateral trading system.
(B) Equity and social justice to the people.
(C) Rule based regional trading system
(D) All of the above
Answer (A)
46. Sick enterprise is referred to
(A) CII
(B)RBI
(C) SIDBI
(D) BIFR
Answer (D)
47.Ethical values are derived from
(A) Corporate philosophy
(B) Organizational culture
(C) Corporate objectives
(D) The religious books
Answer (A)
48.Which sector is called as Primary Sector in India? (A) Industrial sector
(B) Service sector
(C) External sector
(D) Agricultural sector
Answer (D)
49. How many times the census of registered Micro, small and medium Enterprises (MSMEs) have been made by Small Industries Development Organization (SIDO)?
(A) 1
(B) 2
(C) 3
(D) 4
Answer(4)
50. EDII is situated at
(A) New Delhi
(B) Ahmedabad
(C) Patna
(D) Kolkata
Answer (B)
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