Entrepreneurship Quiz

Which of the following is NOT a characteristic of an entrepreneur?

• Risk-taking

• Innovation

• Avoidance of responsibility

• Vision

Schumpeter's theory of entrepreneurship focuses on:

• Risk management

• Innovation

• Capital investment

• Government support

Which of the following is a myth about entrepreneurship?

• Entrepreneurs are risk-takers

• Entrepreneurs are born, not made

• Entrepreneurs create jobs

• Entrepreneurs innovate

An entrepreneur who imitates successful innovations is known as a:

• Drone entrepreneur

• Fabian entrepreneur

• Imitative entrepreneur

• Technical entrepreneur

Which of the following is a barrier to entrepreneurship?

• Access to markets

• Lack of capital

• High profits

• Government subsidies

Entrepreneurship contributes to economic development by:

• Reducing competition

• Minimizing innovation

• Generating employment

• Increasing imports

Which of the following is a block to creativity?

• Open-mindedness

• Curiosity

• Fear of failure

• Flexibility

A major reason for business plan failure is:

• Detailed analysis

• Strong leadership

• Unrealistic financial projections

• Market research

Which of the following defines a Micro enterprise in India (as per latest norms)?

• Investment < ₹1 crore and turnover < ₹5 crore

• Investment < ₹10 crore and turnover < ₹50 crore

• Investment < ₹5 crore and turnover < ₹25 crore

• None of the above

One key advantage of MSMEs is:

• Lack of flexibility

• High capital requirement

• Employment generation

• High tax rates