ENTREPRENEURSHIP & SMALL BUSINESS MANAGEMENT
(ESBM)
MCQS
1. The word 'Machine‘ in patent means that the patent application is for specific _______ item.
(a) Production
(b) Fabrication
(c) Compositions
(d) Physical
2. Compositions of matters means _________
(a) Methods of Production
(b) Product
(c) Mixture of ingredients
(d) Above all.
3. Utility patents are given for_______ years.
(a) 15
(b) 16
(c) 17
(d) 18
4. Design patents are granted for any __________ design.
(a) Copied ornamented design.
(b) Only ornamental design
(c) Original ornamental design.
(d) None of these.
5. Design patents are given for years.
(a) 3 1/2
(b) 7
(c) 14
(d) All of these.
6. A plant patents are given for years.
(a) 14
(b) 15
(c) 16
(d) 17
7. Which of the following is service mark of Kotak securities?
(a) Plan your investment partner.
(b) Your investment partner.
(c) Think investment think Kotak
(d) Kotak your investment guide.
8. A copyright extends protection to authors, composers, and artists and relatives to the form of subject matter.
(a)True
(b) False
9. The word entrepreneur was first used in
(a) French
(b) Swedish
(c) German
(d) Russian
10. The term entrepreneur was first applied to
(a) Leader of Organization.
(b) Leader of Military
(c) Leader of Cricket.
11. In 18th Century the Frenchman used the term "Entrepreneurs”.
(a)True
(b) False
12. Who applied the term "Entrepreneurs" is a dealer, who purchases the means of production.
(a) E.E. Gaggen
(b) Noach Webster,
(c) J.B.Say
(d) Richard Cantilion
13. J.B.Say said, entrepreneur as an organizer.
(a)True
(b) False
14. According to ________ Entrepreneur as an innovator?
(a) J.B.Say
(b) Francis. A. Walter
(c) Joseph Schumpeter
(d) Peter Drucker
15. The Term "Entrepreneurship" was given by ________ in ________.
(a) J.B.Say 17OO A.D.
(b) J.B.Say 1800 A.D.
(c) Peter Drucker. 1600 A.D.
(d) Richard Cantilion, 1800A.D
16. Entrepreneurship is an economic agent who combines_____
(a) Resources
(b) Materials
(c) Factors of Production
(d) Various products
17. Who describes entrepreneur as a change agent? (Peter Drucker)
18. According to Bevvn murthy entrepreneur are motivated to start business due to ________, ________, ________ factors. (Ambitious, Compelling, Facilitating)
19. Preparation stage of creativity process also known as
_________.(Rationalization)
20. Focus Group have _______ participants. (8 to 14)
21. In which method of generating new ideas do not have leader
(a) Brain storming
(b) Focus Group
(c) Problem inventory analysis
22. How many stages are there in creativity process.
(a) 4
(b) 5
(c) 6
(d) 7
23. Creativity is basically a result of
(a) Knowledge
(b) interest
(c) curiosity
(d) All of above.
24. "Conversational Interview" is include in which of the following stage:
(a) Commercialisation
(b) Test marketing
(c) Concept stage
(d) Product development stage.
25. "Buy my product to try my product" is included in
(a) Growth stage
(b) Maturity stage
(c) Start up stage
(d) Decline stage
26. __________ is the process of doing new things.
(a) Creativity
(b) Innovation
27. Stage in the creative process involves sub-conscious assimilation of information.
(a) Illumination
(b) incubation
28. Which one of this is the criteria for getting the patent right?
(a) New
(b) Useful
(c) only A
(d) Both A & B
29. Patenting of composition of matter includes ____________________
(a) Medicines and cosmetics
(b) Technical application
(c) Technical application
(d) All of the above.
30. The word "risk" in entrepreneurship means
a) A situation which is realistic about an outcome of the activity
b) A situation where certainty prevails about an outcome of the activity
c) A situation where uncertainty prevails about outcome of an activity
d) All of the above
31. Seed capital is a capital...
a) Initially required to develop a business/to start a business
b) Initially required to hire new employees
c) Initially required to emerge as a style icon
d) Initially required to develop an innovative product
32. The term ”Publicity" in marketing means:
a) Aggressively advertising the product
b) It means doing charity work and making noise about it
c) Planting the news through media
d) None of the above
33. The term Intellectual Property means
a) Property owned by intelligent entrepreneur
b) Patent/trademark/copy right held by the entrepreneur
c) Both of the above
d) None of the above
34. _______ helps in assessing the strengths and weaknesses of competing products and services
a) competitive analysis
b) technical analysis
c) economic analysis
d) financial analysis,
35. In _______ stage of product planning and development process, the actual consumer reaction to the physical product is determined.
a) Test Marketing
b) Commercialization
c) Product Development
d) Concept
36. In Patent Law, anything that is patentable must be:
a) New and useful
b) Exclusive
c) Unique
d) None of the above
37. Which of the following concept means a joining together of different and often unrelated ideas?
a) Incubation
b) Synectics
c) Rationalization
d) Illumination
38. ________ is a grant of property right by the government to an inventor.
a) Trademark
b) Patent
c) Copyright
d) Service Mark
39. A _______patent is granted for any new products, processes, and machines, methods of manufacturing and compositions of matter.
a) Utility
b) Technological
c) Process
d) Physical matter
40. A ___________ includes any word, name, symbol. or distinguishing device, or any combination there of adopted and used by a manufacturer or merchant to identify his
goods and distinguish from those manufactured or sold by others.
a) Trademark
b) Service mark
c) Copyright
d) Design Patent
41. _________ are similar to patents in establishing ownership and protection for creative endeavor but they pertain to intellectual property.
a) Registered Name
b) Brand Name
c) Service Mark
d) Copyright
42. J A Schumpeter Assigned a crucial role of_______ to the entrepreneur in his theory of economic development
a) Creative Agent
b) Innovator
c) Economist
d) Intrapreneur
43. ________is defined as risk thaty can not be insured against and is incalculable.
a) Incalculable Risk
b) Uncertainty
c) Unsecured Risk
d) Uninsured Risk
44. A _________ extends protection to authors composers and artists, and at relates to the form of expression rather than the subject matter.
a) Registration
b) Brand Name
c) Service Mark
d) Copyright
45. ________ is sometimes referred to as the game plan or road map in business.
a) Business Plan
b) Marketing Plan
c) New Venture Report
d) Legal Document
46. The person who utilized inventions and discoveries to make new combination is called as
a) Inventor
b) motivator
c) Investor
d) Innovator
47. The __________ stage of creative process is a seeding process.
a) Idea germination
b) Preparation
c) Incubation
d) Verification
48. A utility patent is granted for a period of
a) 7 years
b) 17 years
c) 5 years
d) Lifetime
49. ________ protects the appearance of the article and not the article.
a) Design Patent
b) Product Patent
c) Utility Patent
d) Plant Patent
50. Reproduction of a copyrighted work for criticism, comment, scholarship and classroom teaching is considered as ________ of copy right.
a) Limitation
b) Violation
c) Infringement
d) fair use
51. The method for developing new ideas, when individuals are not aware of the problem is called as
a) Gordon Method
b) Forced relationship method
c) Free association method
d) Checklist method
52. ________ is an artificial being, invisible, intangible and existing only in contemplation of law.
a) Franchise
b) Corporations
c) Partnership
d) Sole proprietorship
53. The short description of the entire business plan is called as
a) Executive Summary
b) Harvest Strategy
c) Business description
d) Milestone Schedule
54. Which is more suitable as sociologist‘s view of Entrepreneur?
a) Entrepreneur as a role performer as expected by society
b) Economic incentives are the main drive for entrepreneurial activities
c) Entrepreneur in a society possess particular psychological characteristics
d) All of these
55. Which is the group method for obtaining new ideas and solutions where freewheeling of ideas are encouraged and negative comments and critics are not allowed?
a) Problem Inventory Analysis
b) Focus Group
c) Brainstorming
d) Gordon Method
56. ______ Needs to possess qualities and qualifications like high achievement motive, originality in thinking, foresight, risk bearing ability and so on.
a) Entrepreneur
b) Employees
c) Workers
d) Managers
57. The _________ is focused by the successful growth-minded entrepreneur rather than on resources, structure and strategy.
a) Profit
b) Achievement
c) Risk
d) Opportunity
58. The word entrepreneur is derived from the _________ verb known as entrepreneur.
a) German
b) French
c) Egypt
d) Values
59. According to J.B Say an entrepreneur is the _______ who utilises all means of production.
a) Innovator
b) Risk taker
c) Economic agent
d) Achievement oriented
60. The writing listing and oral presentation skills possessed by an entrepreneur are more appropriately classified as
a) Business management skill
b) Technical skills
c) Personal entrepreneur skill
d) None of these
61. Creativity is the ___________ to bring out something new into existence.
a) Ambition
b) Ability
c) Procedure
d) Desire
62. Most creative idea can be traced to an individual’s interest in or __ about a specific problemor area of study.
a) Research
b) Knowledge
c) Skill
d) Curiosity
63. what cannot be patented from following?
a) Processes
b) Machines
c) Artistic work
d) Compositions ofmatter
64. A _______ is any word, name symbol or any combination thereof adopted and used by a manufacture or merchant to identify his/her good and distinguishes their goods fromthose manufactured or sold by other in the market.
a) Trademark
b) Copyright
c) Patent
d) Geographical indication
65. Competitive analysis patent in a business plan is a part of ______ segment of business plan
a) Business description
b) Operation
c) Management
d) Marketing
Part 2
MID SEMESTER EXAMINATION
ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT
(ESBM)
MCQS
(1) The word "risk" in entrepreneurship means
(A) A situation which is realistic about an outcome of the activity
(B) A situation where certainty prevails about an outcome of the activity
(C) A situation where uncertainty prevails about outcome of an activity
(D) All of the above
(2) Seed capital is a capital...
(A) Initially required to develop a business to start a business
(B) Initially required to hire new employees
(C) Initially required to emerge as a style icon
(D) Initially required to develop an innovative product
(3) The tem Intellectual Property means
(A) Property owned by intelligent entrepreneur
(B) Patent/ trademark/ copy right held by the entrepreneur
(C) None of the above
(D) Both of the above
(4) Which of the following statement is correct?
(A) Marketing - Mix elements are controllable variables in the hands of a marketer
(B) Marketing - Mix elements are uncontrollable variables in the hands of a marketer
(C) Marketing - Mix elements are unpredictable variables in the hands of a marketer
(D) Marketing - Mix elements are predictable variables in the hands of a marketer
(5) ______ helps in assessing the strengths and weaknesses of competing products and services.
(A) Technical analysis
(B) Competitive analysis
(C) Financial analysis
(D) Economic analysis
(6) The _______ illustrates the projected operating results based on profit and loss.
(A) Fund flow statement
(B) Cash flow statement
(C) Loss statement
(D) Income statement
(7) _______ are similar to patents in establishing ownership and protection for creative endeavor, but tney pertain to intellectual property.
(A) Registered Name
(B) Brandy Name
(C) Service Mark
(D) Copyright
(8) J A Schumpeter Assigned a crucial role of _______ to the entrepreneur in his theory of economic development.
(A) Creative Agent
(B) Innovator
(C) Intrapreneur
(D) Economist
(9) ______ Is defined as risk which can not be insured against and is incalculable.
(A) Unsecured Risk
(B) Uninsured Risk
(C) Incalculable Risk
(D) Uncertainty
(10) A ______ extends protection to authors, composers and artists, and it relates to the form of expression rather than the subject matter.
(A) Copyright
(B) Service Mark
(C) Registration
(D) Brand Name
(11) ______ is Sometimes referred to as the game plan or road map in business.
(A) New Venture Report
(B) Business Plan
(C) Marketing Plan
(D) Legal Document
(12) Creativity is the ______ to bring out something new into existence.
(A) Desire
(B) Procedure
(C) Ability
(D) Ambition
(13) Most creative ideas can be traced to an individuals interest in or _______ about a specific problem or area of study.
(A) Curiosity
(B) Skill
(C) Knowledge
(D) Research
(14) What Cannot be patented from following?
(A) Machines
(B) Compositions of matter
(C) Processes
(D) Artistic work
(15) A _______ is any word, name, symbol or any combination thereof adopted and used by a manufacturer or merchant to identify his/her goods and distinguishes their goods from those manufactured or sold by others in the market.
(A) Copyrights
(B) Geographical indication
(C) Trademarks
(D) Patents
(16) Competitive analysis provided in a business plan is a part of ________ segment of business plan.
(A) Operations
(B) Business description
(C) Marketing
(D) Management
(17) lf the entrepreneur realizes during planning that the obstacle in proposed venture can not be avoided or overcome, it is suggested to _______ the business endeavor.
(A) Hold
(B) Alter
(C) Terminate
(D) Continue
(18) Which of the following suppliers of capital have a different need of capital for ownership?
(A) Small Investors
(B) Venture Capitalists
(C) Money Lenders
(D) Banks
(19) The person who utilized inventions and discoveries to make new combinations is called as _________.
(A) Innovator
(B) Investor
(C) Motivator
(D) Inventor
(20) _______ Needs to possess qualities and qualifications like high achievement motive, originality in thinking, foresight, risk bearing ability and so on.
(A) Managers
(B) Workers
(C) Employees
(D) Entrepreneur
(21) The ________ is focused by the successful growth minded entrepreneurs rather than on resources, structure and strategy.
(A) Opportunity
(B) Risk
(C) Achievement
(D) Profits
(22) The word entrepreneur is derived from the _______ verb known as entreprendre.
(A) Values
(B) Egypt
(C) German
(D) French
(23) According to J. B. say an entrepreneur is the ______ who utilizes all means of production.
(A) Risk taker
(B) Innovator
(C) Achievement oriented
(D) Economic agent
(24) The writing, listening and oral presentations skills possessed by an entrepreneur are more appropriately classified as _______.
(A) Technical Skills
(B) Business Management Skills
(C) Personal Entrepreneurial Skills
(D) None of these
(25) According to _____ the inner urge motivates a person to do something new and directs him towards fulfillment of his needs.
(A) B.C. Tandon
(B) David Mc Clelland
(C) K.L. Sharma
(D) David Ricardo
(26) The ______stage of creative process is a seeding process.
(A) Verification
(B) Incubation
(C) ldea germination
(D) Preparation
(27) A utility patent is granted for a period of _______.
(A) Lifetime
(B) 5 years
(C) 17 years
(D) 7 years
(28) ________ protects the appearance of the article and not the article.
(A) Plant Patent
(B) Utility Patent
(C) Product Patent
(D) Design Patent
(29) Reproduction of a copyrighted work for criticism, comment, scholarship and classroom teaching is considered as ______ of copy right.
(A) Fair use
(B) Infringement
(C) Limitation
(D) Violation
(30) The word 'entrepreneur' is derived from the ________ verb.
(A) Greek
(B) German
(C) French
(D) Latin
(31) Among psychologists, Frank Young describes an entrepreneur as _______.
(A) Risk bearer
(B) Change agent
(C) Innovator
(D) Organizer
(32) _____ has listed three entrepreneurial functions : (1) Superintendence (2) Control & Direction.
(A) J. S. Mill
(B) J.B. Say
(C) Richard Cantilion
(D) Josheph Schumpeter
(33) Which among the following is not a barrier to entrepreneurship ?
(A) Social stigma
(B) Patent inhibiting
(C) Complacency
(D) Internal locus & control
(34) _______ is a group method for obtaining new ideas & solutions, where freewheeling is encouraged.
(A) Focus group
(B) Brainstorming
(C) Problem inventory analysis
(D) Checklist method
(35) Innovation is the _______ of creative ideas into useful application.
(A) Implementation
(B) Organization
(C) Ability
(D) Transformation
(36) TRIPS stands for _______.
(A) Trade Related Intellectual Property Services
(B) Trade Related Intellectual Property Sector
(C) Trade Related Intellectual Property Rights
(D) Trade Related intellectual Property Standards
(37) There is no copyright for ______.
(A) Sound recordinng
(B) Artistic work
(C) Musical composition
(D) Ideas
(38) The name of the venture should be identified in ______ segment of the business plan.
(A) Business description
(B) Executive summary
(C) Operations
(D) Introduction
(39) Which skills involve oral communication, interpersonal ability to organize, network building, coaching etc ?
(A) Business management skills
(B) Technical skills
(C) Personal entrepreneurial skills
(D) Interpersonal skills
(40) Which one of this is the criteria for getting the patent right ?
(A) New
(B) Useful
(C) Only A & C
(D) Both A & B
(41) _______ is an artificial being, invisible, intangible and existing only in contemplation of law.
(A) Sole proprietorship
(B) Partnership
(C) Corporations
(D) Franchise
(42) The short description of the entire business plan is called as _____.
(A) Harvest Strategy
(B) Executive Summary
(C) Milestone Schedule
(D) Business description
(43) An ability to accomplish a mechanics of a particular job represents which entrepreneurial skill,
(A) Technical Knowledge
(B) Business secrecy
(C) Administrative ability
(D) Organizing skills
(44) A plant patents are given for ______ years.
(A) 14
(B) 15
(C) 16
(D) 17
(45) Design Patents are given for _____ years.
(A) 3.5
(B) 7
(C) 14
(D) All of these
(46) _____ Is an element of marketing mix that produces revenue.
(A) Product
(B) Price
(C) Place
(D) Promotion
(47) Which of the following is not a method of generating new business idea?
(A) Case study
(B) Brainstorming
(C) Focus group
(D) Problem Inventory analysis
(48) How many stages are there in creativity process.
(A) 4
(B) 5
(C) 6
(D) 7
(49) Which of the following concept means a joining together of different and often unrelated ideas?
(A) Incubation
(B) Synectics
(C) Rationalization
(D) Illumination
(50) Design Patents are granted for any _____ design.
(A) Copied ornamented design
(B) Original ornamental design
(C) Only ornamental design
(D) None of these
