NCERT Class 11 Chapter 9 Business Studies Small Business and Entrepreneurship MCQ

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1. All of the following are characteristics of small businesses EXCEPT:

A. Small businesses are independently owned, operated, and financed.

B. Small businesses have fewer than 100 employees.

C. Small businesses emphasize new or innovative practices.

D. Small businesses have little impact on industry.

2. _____________ can be defined as a specifically evolved work plan densed to achieve a specific objective within a specific period of time

A. Idea generation.

B. Opportunity Scanning.

C. Project.

D. Strategy.

3. A large investment is made in fixed assets, the project will be termed as __________.

A. Capital Intensive.

B. Labour Intensive.

C. Product Intensive.

D. Market Intensive.

4. Which of the following is NOT on of the three areas in which the importance of entrepreneurship can be shown?

A. Innovation

B. Number of new start-ups

C. Job creation and employment

D. bureaucracy

5. The creation of new firms is important because these new firms contribute to economic development through benefits that include all of the following EXCEPT:

A. Product-process innovation

B. Increased tax revenues

C. Unemployment

D. Social betterment

6. All of the following represent countries in which the highest level of entrepreneurial activity was found EXCEPT:

A. Australia

B. Korea

C. Norway

D. Japan

7. Positive external trends or changes that provide unique and distinct possibilities for innovating and creating value are called _____________.

A. Strengths

B. Opportunities

C. Weaknesses

D. Threats

8. An individual who has no prior business ownership experience as a business founder, inheritor of a business, or a purchaser of a business is called a(n) ____________ entrepreneur.

A. Habitual

B. Novice

C. Serial

D. Portfolio

9. An individual who has prior business ownership experience is called a(n) ____________ entrepreneur.

A. Novice

B. habitual

C. Serial

D. Portfolio

10. All of the following are popular demographic factors about entrepreneurs that have been studied EXCEPT:

A. Self-confidence

B. Gender

C. Education

D. amily birth order

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11. The three main responsibilities involved with managing an entrepreneurial venture once its up and running include all of the following EXCEPT:

A. Managing processes

B. Managing people

C. Managing bureaucracy

D. Managing growth

12. A tiny unit is defined as an industrial or business enterprise whose investment in plant and machinery is not more than ________

A. Rs. 25 Lakhs

B. Rs.30 Lakhs

C. Rs.35 Lakhs

D. Rs.50 Lakhs

13. Micro enterprises are those whose investment in plant and machinery does not exceed rupees___

A. 5 Lakh

B. 3 Lakh

C. 1 Lakh

D. 2 Lakh

14. Which of the following is organised by individuals?

A. Cottage Industries

B. Railway industry

C. None of these

D. Chemical industry

15. Which one of the following actions by an entrepreneur is most likely to contribute to creative destruction?

A. Development of a new product

B. Take-over of a competitor

C. Issuing shares

D. Reducing prices

16. An advantage of the small firm in the innovation process?

A. Ability to carry out R&D

B. Ability to raise finance

C. Ability of the entrepreneur to carry out multiple tasks

D. Ability of the entrepreneur to act on new ideas or product development

17. External links may provide incentives to:

A. Raise finance

B. Introduce new working practices

C. Introduce improvements to products

D. Attend business exhibitions

18. PERT stands for __________.

A. Programme Evaluation and Research Techniques.

B. Project Evaluation and Review Techniques.

C. Programme Evaluation and Review Techniques.

D. Project Evaluation and Research Techniques.

19. _____________ is used to accomplish the project economically in the minimum available time with limited resources

A. Project Scheduling.

B. Network Analysis.

C. Budget Analysis.

D. Critical Planning.

20. Firms located on science parks compared to those located off science parks are:

A. More innovative

B. Less innovative

C. No more or less innovative

D. More growth orientated

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21. In _________, machines and equipments are arranged in the order or sequence in which they are to be used for manufacturing the product

A. Factory Layout.

B. Product Layout.

C. Process Layout.

D. Combined Layout.

22. The term ___________ denotes bonus or financial aid which is given by a government to an industry to help it compete with other units

A. Incentive.

B. Subsidy.

C. Bounty.

D. Concession.

23. Innovative small firms are more likely in:

A. Knowledge-based sectors

B. Biotechnology

C. Automobile manufacture

D. Aerospace manufacture

24. Schumpeter considered that innovative entrepreneurs would:

A. Thrive

B. Disappear

C. Be absorbed within large innovative firms

D. Be absorbed within non-innovative firms

25. Entrepreneurs are motivated by _________.

A. money.

B. personal values.

C. Pull influences.

D. All the above.