Elements of Entrepreneurship One Mark Online Test

Elements of Entrepreneurship One Mark Online Test (12th Standard Commerce)

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Which of the below is a factor of production?

A.Land B.Labour C.Entrepreneurship D.All of the above

Entrepreneur is not classified as

A.Risk Bearer B.Innovator C.Employee D.Organizer

What are the characteristics of an entrepreneur?

A.Spirit of enterprise B.Flexibility C.Self Confidence D.All of the above

Which of the below is not classified into managerial functions?

A.Planning B.Marketing C.Organizing D.Controlling

Which of the below is a commercial function?

A.Accounting B.Coordination C.Discovery of idea D.Planning

The term 'entrepreneur' has been derived from which language?

A.Latin B.French C.German D.Greek

In which year did the Oxford Dictionary describe the entrepreneur as one who organises musical performances?

A.1897 B.1934 C.1991 D.1996

Match the thinker with the view of the entrepreneur.
A. Richard Cantillon - 1. Innovator
B. Jean Baptize - 2. Risk bearer
C. Joseph A. Schumpeter - 3. Organiser

A.A-2, B-3, C-1 B.A-3, B-2, C-1 C.A-1, B-3, C-2 D.A-2, B-1, C-3

In which year did Joseph A. Schumpeter use innovation as the criterion to define an entrepreneur?

A.1897 B.1934 C.1991 D.1996

Q10

Who defined the entrepreneur as an innovator, one who does things not generally done in the ordinary course of business and carries out new combinations?

A.Richard Cantillon B.Jean Baptize C.Joseph A. Schumpeter D.Oxford Dictionary

Q11

Which of the following statements about the concept of entrepreneur is/are correct?
1. Entrepreneurship is regarded as one of the four major factors of production.
2. The concept of entrepreneur is connected with three core elements: risk bearing, organising and innovating.

A.1 only B.2 only C.Both 1 and 2 D.Neither 1 nor 2

Q12

Which characteristic requires an entrepreneur not to stick rigidly to decisions but to change them as the business environment changes?

A.Foresight B.Flexibility C.Hard work D.Self confidence

Q13

An entrepreneur who foresees likely changes in the market, consumer attitude and technology and takes timely action shows which characteristic?

A.Analytical ability B.Foresight C.Leadership D.Resource mobilisation

Q14

Find the odd one out with respect to the characteristics of an entrepreneur.

A.Spirit of enterprise B.Analytical ability C.Decision making D.Dependent culture

Q15

Encouraging entrepreneurship in under developed regions through incentives and concessions, which also checks rural people migrating to urban centres for jobs, leads to

A.Balanced regional development B.Export promotion C.Contribution to GDP D.Better standard of living

Q16

Assertion (A): Encouraging entrepreneurs to produce export oriented goods helps a country correct an adverse balance of payment position.
Reason (R): Export oriented goods add to the foreign exchange reserve of the country.

A.Both A and R are true and R is the correct explanation of A B.Both A and R are true but R is not the correct explanation of A C.A is true but R is false D.A is false but R is true

Q17

Establishing small, medium and micro enterprises all over the country prevents economic power from being concentrated in the hands of

A.The Government B.A few large entrepreneurs C.Women entrepreneurs D.Consumers

Q18

One who thinks and acts like an entrepreneur for the firm's development while being employed in the organisation is called

A.Manager B.Intrapreneur C.Promoter D.Consultant

Q19

Which of the following statements about an intrapreneur is correct?

A.Intrapreneur shares in the profits of the venture B.Intrapreneur mobilises funds to finance the venture C.Intrapreneur operates within the enterprise D.Intrapreneur bears the risk of the venture

Q20

According to the comparison table, a manager requires

A.Creative talent and intuition B.Conceptual skills and human relations skills C.Urge for innovation D.Risk bearing capacity

Q21

As defined by the Government of India, a women entrepreneur's enterprise is owned and controlled by a woman having a minimum financial interest of ______ of the capital and giving at least ______ of the employment generated to women.

A.26% and 26% B.51% and 51% C.51% and 25% D.80% and 51%

Q22

"Women who innovate, imitate or adopt a business activity are known as women entrepreneurs." This definition is based on whose concept?

A.Richard Cantillon B.Schumpeter C.Jean Baptize D.Government of India

Q23

The Credit Guarantee Fund Scheme for Micro and Small Enterprises extends its guarantee up to what percentage for MSEs owned and operated by women?

A.51% B.75% C.80% D.100%

Q24

In which year was the Consortium of Women Entrepreneurs of India (CWEI) registered as a civil society?

A.1991 B.1996 C.2004 D.1934

Q25

Which of the following statements about the Consortium of Women Entrepreneurs of India (CWEI) is/are correct?
1. It is a non-profit organisation accredited by the Government of India.
2. It is a member of the National Board, Ministry of MSME.
3. It works closely with the Ministry of Rural Development.

A.1 and 2 only B.2 and 3 only C.1 and 3 only D.1, 2 and 3

Q26

Find the odd one out with respect to the challenges of women entrepreneurs.

A.Problem of finance B.Limited mobility C.Stiff competition D.Collateral free loans

Q27

Women, however educated, are groomed to depend on parents, life partners and children and must take permission for any gainful activity. This challenge is called

A.Sensitivity B.Dependent culture C.Lack of information D.Lack of network support

Q28

Which is the first and foremost promotional function of an entrepreneur?

A.Discovery of idea B.Mobilisation of funds C.Preparation of business plan D.Procurement of machines and materials

Q29

Studying the commercial feasibility of the proposed product, its potential demand and the sources and prices of its inputs is part of which promotional function?

A.Determining the business objectives B.Detailed investigation C.Fulfilment of the formalities D.Choice of form of enterprise

Q30

Arrange the following promotional functions in the order given in the lesson.
1. Mobilisation of funds
2. Discovery of idea
3. Choice of form of enterprise
4. Preparation of business plan

A.2, 3, 4, 1 B.2, 4, 3, 1 C.3, 2, 1, 4 D.2, 3, 1, 4

Q31

Motivating, leading, guiding and communicating with subordinates on an ongoing basis to accomplish pre-set goals is the managerial function of

A.Planning B.Organising C.Directing D.Coordination

Q32

Fixing performance standards, measuring actual performance, comparing it with standards and taking corrective measures are steps in

A.Controlling B.Planning C.Accounting D.Detailed investigation

Q33

For service products, which three components are added to the four components of marketing mix?

A.People, process and physical evidence B.Product, price and promotion C.Planning, organising and directing D.Packaging, pricing and warehousing

Q34

Preparing the trading and profit and loss account, the balance sheet, and cash flow and fund flow statements comes under which commercial function?

A.Finance B.Accounting C.Production D.Human resource management

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About this Elements of Entrepreneurship test

This free online practice test covers Elements of Entrepreneurship from the 12th Standard Commerce (Samacheer Kalvi) syllabus. Choose the number of questions and an optional time limit, then answer and submit — everything is checked in your browser, with the correct answers and a worked explanation shown at the end. For the full solutions to every question in this set, see the solved MCQs page.

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