Entrepreneurship is related to which process?
Correct answer: A
Entrepreneurship involves identifying an opportunity and starting a new enterprise. Exam tip: remember opportunity and initiative together.
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Entrepreneurship: definition and characteristics
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Easy · Level 48 · home-science,entrepreneurship,definition
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- Identifying opportunity and starting an enterprise
- Only searching for a job
- Keeping complete distance from work
- Wasting resources
Easy · Level 48 · home-science,entrepreneurship,initiative
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- Depending on others
- Taking initiative oneself
- Delaying every work
- Staying away from the market
Easy · Level 48 · home-science,entrepreneurship,risk-taking
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- Carelessness
- Disorder
- Risk-taking ability
- Fear of work
Easy · Level 48 · home-science,entrepreneurship,customer-need
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- To stop work
- To hide expenses
- To destroy resources
- To make useful product or service
Easy · Level 48 · home-science,entrepreneurship,market-survey
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- Knowing demand and preference
- Closing work
- Reducing customers
- Removing planning
Easy · Level 48 · home-science,entrepreneurship,business-plan
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- To increase risk without thinking
- To decide goals resources and direction
- To keep distance from customers
- To hide the product
Easy · Level 48 · home-science,entrepreneurship,self-confidence
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- While leaving work
- While avoiding customers
- While hiding risk
- While taking decisions
Easy · Level 48 · home-science,entrepreneurship,honesty
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- Confusion
- Trust
- Disorder
- Fear
Easy · Level 48 · home-science,entrepreneurship,time-management
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- Work always stopping
- Customer complaints increasing
- Work being completed on time
- Losing resources
Easy · Level 48 · home-science,entrepreneurship,customer-satisfaction
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- Hiding product
- Increasing expenses
- Stopping work
- Quality and service
Easy · Level 48 · home-science,entrepreneurship,leadership
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- To hide work
- To guide the team
- To stay away from market
- To reduce customers
Easy · Level 48 · home-science,entrepreneurship,employment-generation
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- By reducing opportunities
- By hiding resources
- By creating employment
- By stopping work
Easy · Level 48 · home-science,entrepreneurship,customer-feedback
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- Always as insult
- As a reason to close work
- As a way to remove customers
- As an opportunity for improvement
Easy · Level 48 · home-science,entrepreneurship,perseverance
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- Continuing efforts even in difficulty
- Leaving every opportunity
- Fearing work
- Closing business without reason
Easy · Level 48 · home-science,entrepreneurship,capital
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- To confuse customers
- To hide work
- To arrange materials and tools
- To stop every decision
Easy · Level 48 · home science, entrepreneurship, creativity, innovation, business skills
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- It creates distance from work
- Customers reduce
- Risk gets hidden
- New solutions are found
Easy · Level 48 · home-science,entrepreneurship,failure-learning
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- Learns and improves
- Always gives up
- Blames customers
- Deletes planning
Easy · Level 48 · home-science,entrepreneurship,financial-records
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- To understand profit expenses and loss
- To hide business
- To push customers away
- To break rules
Easy · Level 48 · home-science,entrepreneurship,pricing
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- Cost and market understanding
- Only rumour
- Only fear
- Guess without reason
Easy · Level 48 · home-science,entrepreneurship,self-reliance
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- By giving own work and income source
- By making dependent on others
- By stopping work
- By removing resources
What can be the first identity of an entrepreneur?
Correct answer: B
An entrepreneur steps forward and starts work. Exam tip: consider initiative a key identity of an entrepreneur.
View question detailsTaking calculated risk in a new business shows which quality?
Correct answer: C
An entrepreneur does not take blind risk but calculated risk. Exam tip: remember calculated risk.
View question detailsWhy is understanding customer needs necessary in entrepreneurship?
Correct answer: D
A useful product or service can be made by understanding customer needs. Exam tip: link customer need with market opportunity.
View question detailsWhat is the main purpose of market survey for an entrepreneur?
Correct answer: A
Market survey helps understand customer demand and preference. Exam tip: link survey with planning.
View question detailsWhy should an entrepreneur make a business plan?
Correct answer: B
A business plan gives organised direction to an enterprise. Exam tip: understand a business plan as a roadmap.
View question detailsWhen is self-confidence most useful for an entrepreneur?
Correct answer: D
Self-confidence helps in taking decisions and moving ahead. Exam tip: consider self-confidence an entrepreneurial quality.
View question detailsHonesty in business creates what?
Correct answer: B
Honesty increases the trust of customers and society. Exam tip: link honesty with business ethics.
View question detailsWhat is the direct benefit of time management for an entrepreneur?
Correct answer: C
Time management makes work organised and timely. Exam tip: consider time an important resource.
View question detailsCustomer satisfaction in business is most related to what?
Correct answer: D
Good quality and service increase customer satisfaction. Exam tip: link customer satisfaction with quality.
View question detailsWhy is leadership important for an entrepreneur?
Correct answer: B
Leadership gives goal and direction to a team. Exam tip: consider leadership an entrepreneurial characteristic.
View question detailsHow can entrepreneurship contribute to society?
Correct answer: C
An enterprise can create new work and employment opportunities. Exam tip: link entrepreneurship with employment.
View question detailsHow should an entrepreneur view customer complaint?
Correct answer: D
A complaint gives direction to improve product or service. Exam tip: understand complaint as feedback.
View question detailsWhat does perseverance mean in an entrepreneur?
Correct answer: A
Perseverance helps an entrepreneur move ahead even in difficulty. Exam tip: link perseverance with success.
View question detailsWhy is capital necessary in business?
Correct answer: C
Capital fulfils starting and running needs of business. Exam tip: consider capital a resource.
View question detailsWhat is the benefit of creativity in entrepreneurship?
Correct answer: D
In entrepreneurship, creativity helps an entrepreneur view problems differently and develop new products, services, or methods for customer needs. Therefore, finding new solutions is correct. Hiding risk is not a benefit of creativity; an entrepreneur should identify and manage risks. Exam tip: remember creativity as the source of new ideas and innovation.
View question detailsWhat does a successful entrepreneur do with failure?
Correct answer: A
Learning from failure makes an entrepreneur better. Exam tip: treat failure as a learning opportunity.
View question detailsWhy are financial records necessary for an entrepreneur?
Correct answer: A
Financial records clarify the economic condition of business. Exam tip: link records with financial discipline.
View question detailsCorrect pricing in business should be based on what?
Correct answer: A
While deciding price cost and customer capacity should be understood. Exam tip: link pricing with cost and market.
View question detailsHow can entrepreneurship make a person self-reliant?
Correct answer: A
One's own enterprise gives income and work opportunity. Exam tip: link entrepreneurship with self-reliance.
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