FUNDAMENTALS OF ENTERPRENEURSHIP -1

1. Who can be called an entrepreneur?

a. Who is having leadership
b. Who is capable of avoiding risk
c. Who is capable of decision making
d. Who is holding above all qualities.

2. What is called the return available to entrepreneur for taking business risk?
a. Wages
b. Commission
c. Profit
d. Interest

3. In which century the work “entrepreneur” was used?

a. In 14th century
b. In 15th century
c. In 16th century
d. In 17th century

4. Which decisions does an entrepreneur require to take relation to basic matters?

a. Production of which goods or services.
b. How big should be the size and nature of business
c. Which place of business should be selected
d. Above all the decisions

5. Who said this,? “The greatest invention of all is the invention of inventing
inventions.”
a. Alfred Marshal
b. Alfred North Whitehead
c. Alfred South Whitehead
d. None of these

6. Who said this? “An entrepreneur means the person who starts his own new and
small business.”
a. American Economist
b. Indian Economist
c. German Economist
d. European Economist

7. The economist who said that entrepreneurs have always to search change…..
a. Joseph F.Schumapeter
b. Peter F. Drucker
c. Herbert Evans
d. Luther Gulic
8. The author of the statement ; “The person who bears uncertainties is called an
entrepreneur.”
a. J.B.Say
b. Richard Cantilon
c. Arthur Dewing
d. Gerald A.Silver

8. Who said this? “Planning is a method or technique of looking into future.”

a. Feyole
b. Terry
c. Gulic
d. Johnson

9. which characteristic of an entrepreneur is like an engine for industrial sector?

a. Leadership
b. Decision making
c. Dynamic personality
d. Risk avoidance

10. Which was the preventive factor in the development of entrepreneurial class?
a. Execution of long term policy
b. Make propaganda system advice
c. Change the concept of job for the sake of job
d. To follow conventional work style

11. The government has established which organization to encourage entrepreneurs

manufacturing standard goods?
a. Entrepreneurship Development Institute of India
b. Indian Standard Institute
c. Entrepreneurship Development Institute
d. Management Development Institute

12. Where did the industrial revolution take place?

a. America
b. Japan
c. England
d. Germany

13. When did industrial revolution took place?

a. 1760
b. 1770
c. 1880
d. 1860

14. Which act was enacted by Czar government of Russia to subside the objection of
the people?
a. Act of power
b. Act of peace
c. Act of liberty
d. Act of Czar

15. Where the head office of entrepreneurship development centre is situated in

Gujarat?
a. Jamnagar
b. Ahmedabad
c. Bhavnagar
d. Gandhinagar

16.In which city the Paris established construction of ships for East India Company in
1673?
a. Kolkata
b. Madras
c. Surat
d. Mumbai

17. By 1915 how many textile mills were established by entrepreneurs in

India?
a. 92
b. 96
c. 98
d. 104

18. The word entrepreneur is originated from which language?

a. English\
b. Italian
c. French
d. German

19. In which country the concept of entrepreneur originated?

a. India
b. Russia
c. America
d. England

20. Which people called the army exercise and attack as entrepreneur?
a. Americans
b. Russians
c. Indians
d. French people

21. Search of new market for selling commodity means..

a. Do venture
b. Accept uncertainty
c. Do innovation
d. De renovation

22. What a person should do in his business to become an entrepreneur?

a. Renovation
b. Innovation
c. Planning
d. Decision making

23. Which economist considers entrepreneurship as knowledge based

principle?
a. Feyole
b. Drucker
c. Schumapeter
d. Gulik

24. Who gave the theory of innovation?

a. G.R.Peter
b. Joseph Schumpeter
c. Max Webber
d. Mclelland

25. In the principle of behaviour of entrepreneur which economist introduced

the concept of instalment?
a. Schumper
b. Mccormic
c. Casson
d. Stoke

26. How much is the weight of watchpad computer prepared by Japan?

a. 46gram
b. 43gram
c. 76gram
d. 55gram

27. Who first mentioned the word entrepreneur in his book?

a. Schumpeter
b. Pinchot
c. Drucker
d. Pepank

28. Who utilizes inventions and researches for the development of his
business?
a. Inventor
b. Investor
c. Capitalist
d. Innovator

29. Which institute runs training programmers for achievement motivation for
entrepreneur?
a. Behavioural Science Centre
b. National Motivation and Institutional Development Institute
c. Small Scale Industries Development Training Institute
d. Above all the institutions

30. Who gives maximum contribution in the progress of the nation?

a. Land
b. Labour
c. Entrepreneur
d. Capital

31. Which of the following factors is not determining factor for the
development of entrepreneurship?
a. Motivation
b. Conventional Thoughts
c. Managerial skill for enterprise
d. Technical knowledge

32.In relation to entrepreneurship how may types of technical methods are

there?
a. One
b. Two
c. Three
d. Four

33. Which is the most scare resource of production?

a. Labour
b. Entrepreneur
c. Capital
d. Machinery

34. The concept of entrepreneurship of which type?

a. Proof oriented
b. Development oriented
c. Non economic
d. Economic

35. Which economist had introduced X-efficiency theory?

a. Libestin
b. Casson
c. Webber
 d. Schumpeter

36. By what other name the defects in production is called?

a. Gap filling
b. Gap outing
c. Gap inputting
d. None from above

37. Which theory was introduced the economic incentive theory?

a. G.F.Pepanek & G.R.Hicks
b. G.R.Harris & Max Webber
c. G.f.Pepanek & Henry Fayole
d. Frank W.Young & Max Webber

38. Which theory was introduced by economist Thomson Docken?

a. Theory of profit
b. Theory of X-efficiecy
c. Theory of Harvard School
d. Theory of Central value

39.Who introduced the theory of social value?

a. Crocken
b. Edison
c. Bruce
d. Cruze
40. The society derives many benefits from an entrepreneur. Hence, he is
…………….. of the society.
a. Creditor
b. Debtor
c. Owner
d. Owner of society