CBSE Questions for Class 11 Commerce Business Studies Small Business And Entrepreneurship Quiz 2 - MCQExams.com

'Smarts' in itself accommodate _________.
  • Education
  • Employment and life experience
  • Good looks
  • Both a and b
Which of the following is not a characteristic of a typical entrepreneur?
  • Preference for taking high risks.
  • Desire for responsibility
  • Desire for immediate feedback
  • Confidence in their ability to succeed
The basic skills required for an intrapreneur are _________.
  • leadership, communication, planning'
  • creativity, innovation, risk-taking
  • blend of managerial and entrepreneural skill
  • none of the above
For the economic and industrial development Micro, Small and Medium Enterprises play an important role such as _____________.
(1) They have the capacity to absorb skilled and unskilled labor available in the country.
(2) Such institutions provide lots of employment and allow income to get concentrated in few hands or in few areas.
(3) They help in eradication of poverty by providing self-employment opportunities.
Select the correct option.
  • Only (1)
  • Only (2)
  • Only (3)
  • Only (1) and (3)
The word entrepreneur is derived from the french word _________.
  • intraprenure
  • entreprendre
  • intraprendre
  • entrepreneure
Which of the following statement is not true?
  • Intrapreneur is the inside entrepreneur
  • Not every business needs an intrapreneur but every business needs an entrepreneur
  • Both (a) and (b)
  • Neither (a) nor (b)
Which of the following is one of the key elements of entrepreneurship?
  • Motivation
  • Mission
  • Innovation
  • Supervision
Which among the following is incorrect regarding entrepreneurship _______.
  • entrepreneurship is derived from French word 'entreprendre'
  • entrepreneurship is related with innovative thinking
  • entrepreneurship is related with organising skills
  • entrepreneurship is mainly related with profit making
Who among the following realizes his dreams?
  • Investor
  • Manager
  • Entrepreneur
  • Employee
Who among the following propounded the concept of 'creative destruction's' ?
  • Steve Jobs
  • Albert S Humphrey
  • Joseph Schum Peter
  • Cantillon
Who claims that the abilities of entrepreneur are " so great and so numerous that very few people can exhibit them in all in a very high degree"?
  • Adam Smith
  • John Stuart Mill
  • Marshall
  • David Ricardo
Micro enterprises depend more on micro credit because ________.
  • they need less loans
  • they do not have access to commercial banking system
  • they are entrepreneurs
  • None of the above.
Coir industry is a __________.
  • Medium scale industry
  • Medium small scale industry
  • Traditional small scale industry
  • Large industry
The problem faced by small Business is/are __________.
  • Lack of adequate finance
  • Outdated technology
  • Shortage of raw materials
  • All of the above
Leadership & managerial skill are _______.
  • Interwoven to entrepreneurship
  • Complimentary to entrepreneurship
  • Substitute to entrepreneurship
  • Opposite to entrepreneurship
Invariably a drawback of traditional small scale industry is ____________.
  • they can not provide employment for whole year
  • they require high labor employment
  • they can earn only foreign exchange
  • none of the above
40% of the Indian economy's gross value is given by ____________.
  • small scale industry
  • micro scale industry
  • micro industry
  • public enterprises
The definition of Micro, Small and Medium Enterprises (MSMEs) in India is based on ____________.
  • total sales of the unit
  • investment in machines and equipment
  • market coverage
  • export turnover
Glass industry is a ___________.
  • small scale industry
  • cottage industry
  • traditional small scale industry
  • mega industry
What is the result of modernisation?
  • Additional burden on employees
  • Increase in wasteful expenses
  • Expansion of business
  • Expansion of profit
Micro, Small and Medium Enterprises play an important role in a country's economic and industrial development that is ____________.
(1)they have the capacity to absorb skilled and unskilled labour available in the country.
(2)such institutions provide lots of employment and allow income to get concentrated in few hands or in few areas.
(3)they help in eradication of poverty by providing self-employment opportunities.
Select the most appropriate:
  • Only (1)
  • Only (2)
  • Only (3)
  • Only (1) and (3)
The Act formed for the development of Micro, Small and Medium Enterprises is __________.
  • Micro, Small and Medium Enterprises Development Act, 2005
  • Micro, Small and Medium Enterprises Development Act, 2006
  • Micro, Small and Medium Enterprises Development Act, 2004
  • Micro, Small and Medium Enterprises Development Act, 2003
Which of the following is /are included in 'traditional small industries'? 
(I) Khadi and handloom
(II) Village industries
Select the correct answer from the option given below.
  • (I) only
  • (II) only
  • Both(I) and (II)
  • Niether (I) nor (II)
Entrepreneurship should always ready to accept the ________.
  • Diversification
  • Expansion
  • Modernization
  • All of the above
Which statement is not true for entrepreneurs?
  • They change the way business convert inputs into outputs.
  • They are agents of adjustment.
  • They apply innovative ideas.
  • They generally stick to the processes already in use.
Entrepreneurship may be classified as ___________.
  • Opportunity - based entrepreneurship
  • Necessity - based entrepreneurship
  • (A) or (B)
  • None of the above
According to whom "The entrepreneurship is essentially a creative activity or it is an innovative function"?
  • Schumpeter
  • Joseph Schumpeter
  • Peter Drucker
  • Dr. Marshal
Which of the following can be treated as trait of entrepreneur?
(I) He is a moderate risk taker.
(II) He possesses divine powers.
(III) He is equivalent to supervisor.
(IV) He is innovative.
(V) He is involved in charitable activities.
(VI) He peruses the deviant pursuits.
Select the correct answer from the option given below.
  • (I), (II), (III) & (VI)
  • (V), (II), (I), (III) & (VI)
  • (IV), (VI) & (I)
  • All of the above
The small-scale industries sector contributes almost_______of the gross industrial value added in the indian economy.
  • 20%
  • 40%
  • 60%
  • 80%
Research indicates that most successful entrepreneurs share certain personal attributes, including _______.
  • Creativity
  • Dedication
  • Determination
  • All of the above
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