INTERNATIONAL CENTER OF EXCELLENCE FOR RURAL FINANCE AND ENTREPRENEURSHIP

AHMADU BELLO UNIVERSITY, ZARIA

SECOND SEMESTER EXAMINATION 2017/2018 SESSION

Course: Entrepreneurship and Innovation (GENS 202)-Class: 200 level - Friday 5TH Oct., 2018

INFORMATION AND INSTRUCTIONS:

1. Attempt all questions
2. Time allowed: 60 minutes
3. Answer the questions on the answer sheet provided at the end of this booklet.
4. Each multiple-choice question carries one mark
5. Use of handset is not allowed
6. This question paper must be submitted together with the answer sheet at the end of the examination.

QUESTIONS
1. In entrepreneurship parlance, creativity precedes innovation because the latter involves …………..
(a) Inventing something new (b) Transforming ideas into product or services (c) Taking risks beyond
security (d) all of the above

2. ………… helps an entrepreneur to gain competitive advantage in his business either due to cost advantage
or due to differentiation of product. (a) Intrapreneurship (b) Proclivity (c) Innovation (d) Business
Environment

3. Innovation is needed by an entrepreneur for the following reasons except ………. (a) To face competition
(b) To stand out in the clutter (c) To survive recession (d) To boost profiteering

4. All of the following are sources of innovation except ……….. (a) Unexpected occurrences (b)
Incongruities (c) Process needs (d) Ingenuity

5. To determine what product or service to provide, an entrepreneur needs to consider all of the following
factors except: (a) An idea’s market potential (b) The competition (c) Financial resources (d)
Entrepreneurial alertness

6. The characteristics of organization include all of the followings, except (a) It is an instrument used by the
management (b) It guides and directs the management (c) It prefers to a group of personnel whose positions
and responsibilities are well defined (d) A set of rules and instruments are communicated to all connected
with the organization

7. Which of the followings in not among the importance of organization?

(a) It increases productivity (b) Encourages specialization (c) It encourages destructive thinking (d) It
encourages specialization

8. Which of the followings is not among the advantages of Entrepreneurship?

(a) Creative thinking (b) Innovative mindset (c) Self-confidence (d) Idea relapse

9. Entrepreneurship has all the followings advantages to country’s national economy except
(a) Increase in national income (b) Decrease in unemployment (c) Technological advancement
(d) Increase in public liability

10. To be an entrepreneur one needs to have all the followings except

(a) Good degree in related field (b) Skills and knowledge (c) Startup capital (d) Entrepreneurial mindset

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11. ……is the reason why there is almost none or few women truck drivers in Northern Nigeria
(a) Culture (b) Education (c) Technology (d) Marital status.

12. It is easier for women in developed countries to operate in formal sectors. In developing countries the
reverse is the case due to…………… (a) Complex legal procedures (b) Infrastructural development (c)
Smaller family size (d) Greater passion for entrepreneurship.

13. ……. is a reason why women are prevented from running competitive businesses in many African nations
(a) Family (b) Education (c) Culture (d) Constitution.

14. All of the following are challenges facing women entrepreneurs except …. (a) Information gaps (b) Poor
business environment (c) Availability of finance (d) Gender discrimination

15. Which of the following is not among the measures for promoting female entrepreneurship?
(a) Funding (b) Networking (c) Consultancy mentoring (d) Arbitraging

16. Which of the followings statements is exactly correct?

(a) Business cannot be operated without educational qualification (b) Business can exist in a vacuum (c)
Business can be run without startup capital (d) Business cannot exist in a vacuum

17. Which among the followings is the main factor that affects most businesses? (a) The degree of creativity
(b) The level of technology (c) The degree of competition (d) The competency of management

18. All the followings are among the external environmental factors that affect business, except
(a) Social (b) Political (c) Legal (d) Capabilities

19. Technological factor is one of the………factors that affect business operation

(a) Micro (b) Macro (c) External (d) Internal

20. Business environmental factors are commonly and broadly categorized into……… (a) Internal and
external (b) Micro and Macro (c) Domestic and International (d) Sensitive and non-sensitive

21. All of the following are aspects where men and women entrepreneurship differ except
(a) Sales turnover (b) Differing capital base (c) Debt financing ratios (d) Business registration process

22. The existing gender gap in access to finance is related to factors such as…………
(a) Favoritism (b) Age of women enterprises (c) Economic cycles (d) Absence of micro-credit institutions.

23. The creative and entrepreneurial potential of women is a veritable weapon for the creation of …… and
should be encouraged. (a) Stable environment (b) New jobs (c) Environment full of vices (d) Financial
stability

24. Understanding the needs of women entrepreneurs through activities such as exchange visits, training
programs and ……. encourages women entrepreneurship. (a) Seminars (b) Trainings (c) Meetings
(d) Parleys

25. Effective lobbying of financial institutions to counter actual discrimination against women entrepreneurs is
a step to increase ……. … (a) Mentoring for women (b) Availability of finance (c) Women consultancy
services (d) All of the above

26. Ethical factor is concerned with…….. (a) Which investment is profitable and not profitable for a business
to choose (b) What is viable and not viable for a business to embark upon (c) What is regarded as morally
right or wrong for a business to do (d) None of the above

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 27. All of the followings are among the main reasons why markets change rapidly, except
(a) When customers develop new needs and wants (b) When government introduces new legislations
(c) When the organization’s management has a meeting (d) When a world or countrywide event happens

28. The amount and type of competition depends on the market a business operates in, such as (a) Many small
rival businesses (b) A few large rival firms (c) A rapidly changing market (d) Either of the above

29. Business could react to an increase in competition using any of the following ways, except
(a) Cut price (b) Cut cost (c) Cut quality (d) Spend more on promotion

30. When a business action has the reverse effect on the society, the situation is referred as………
(a) Social cost (b) Social benefit (c) Business environment (d) Either of the above

31. ………… is a process whereby individuals build or transform institutions to advance solutions to social
problems (a) Economic entrepreneurship (b) Corporate entrepreneurship (c) Social entrepreneurship (d)
Technological entrepreneurship

32. For one to be a social entrepreneur he/she has to have all the following features, except
(a) Powerful drive (b) Ethical fiber (c) Creativity (d) Profit motive

33. Economic entrepreneurs measure success in terms of profit whereas …………… measure their success in
terms of practical contributions they make to societies. (a) Social entrepreneurs (b) Technopreneurs
(c) Intrapreneurs (d) None of the above

34. Social entrepreneurs share certain qualities which include all the following except (a) Ability to overcome
apathy (b) Profiteering attitude (c) Ability to listen (d) They encourage sense of accountability

35. One of the successful examples of pioneering organizations in the field of social entrepreneurship is …….
(a) Bill Gates Foundation (b) Dangote Foundation (c) Grameen Bank (d) All of the above

36. In most cases, intellectual properties are commonly………..

(a) Intangible assets (b) Tangible products (c) Raw materials (d) Human capitals

37. A violation of a copyright is commonly known as……. (a) Infringement (b) Trademarks (c) Copyright
(d) Patents

38. Which of the followings is not among intellectual creations? (a) New product and its name (b) New method
and new process (c) New promotional scheme and design (d) New employments and retirements

39. Which of the followings typically represents the main purpose of intellectual property law? (a) To encourage
imitation (b) To encourage innovation (c) To encourage replication (d) To encourage piracy

40. When an inventor has been granted the right of owning an invention for a fixed period of time, the
arrangement is legally known as.……. (a) Copyright (b) Trade Secrets (c) Patents (d) Trademarks

41. How do social entrepreneurial ventures compare to change agents in other sectors?
(a) By their strategies (b) By their primary objectives (c) Registration procedures (d) None of the above

42. Social entrepreneurs also differ from governments in that the latter are bound by protocol, rules and
procedures while the former enjoy far ………... (a) More rigidity (b) More flexibility (c) More resources
(d) None of the above

43. Which one of the following can best be described as a subset of social entrepreneurship? (a) Economic
entrepreneurship (b) Activism (c) Rebellion (d) All of the above

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44. The process whereby social and financial objectives are commingled is known as ……....
(a) Economic value (b) Blended value (c) Activism (d) Value creation

45. Which of the following options finds it difficult to retain talents?

(a) Economic entrepreneurs (b) Social entrepreneurs (c) Political entrepreneurs (d) All of the above

46. An agreement of non-disclosure of customers’ lists, sources of supply and raw materials, is commonly
known as…….... (a) Patents (b) Copyright (c) Trademarks (d) Trade Secrets

47. Inventors are often protecting their patents through the service of……. (a) Rules and regulations (b)
Militaries and paramilitaries (c) Executive and/or legislator arms of government (d) Patent attorney and/or
an intellectual property lawyer

48. The act governing the copyright law in Nigeria, is known as............. (a) Copyright act number 47
(b) Copyright act number 41 (c) Copyright act number 42 (d) Copyright act number 57

49. Which of the followings is not one of the types of intellectual property protection?
(a) Registered designs (b) Trademarks (c) Human resources (d) Circuit layout rights

50. Which of the followings is not legally accepted by intellectual property law?
(a) It could be bought (b) It could be sold (c) It could be licensed (d) It could be pirated

51. Perceiving a possibility of profit either through invention or innovation is referred to as………….
(a) Environmental scanning (b) Idea generation (c) Environmental analysis (d) Opportunity recognition.

52. For an idea to become an opportunity, there must be a………

(a) Need for the service (b) Feasibility report (c) Strategy (d) Saturated market.

53. A close examination of environmental conditions and their impact on businesses is known as…….
(a) Environmental scanning (b) Environmental pollution (c) Environmental degradation (d) All of the
above.

54. The type of opportunity that deals with exploring a latent or an existing need is the… (a) Enacted type
(a) Recognized type (c) Discovered type (d) Created type.

55. All of the following are sources of business opportunities except

(a) Hobby (b) Environmental signal (c) Prior experience (d) Social network

56. From it root, the word technology means to…

(a) Evacuate or to vacate (b) Imitate or to forge (c) Shift or to change (d) Copy or to replicate

57. The word technology was used originally in relation to………

(a) Changing nature (b) Copying creativity (c) Imitating idea (d) Replicating invention

58. Smart entrepreneurs view technology as…

(a) Electronic creations (b) Computer inventions (c) Means of getting things done through other people
(d) Means to achieve their goals more quickly

59. In view of Jim Collins, Technology is......... (a) A trigger (b) An innovator (c) An inventor
(d) An accelerator

60. Technological innovation refers to any of the followings, except (a) The increase in knowledge
(b) The improvement in skills (c) The discovery of a new means (d) The replication of archaic idea

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