Name of the Subject-In-Charge:Ms.Sakshi Gupta and Ms.

Simran Kaur
Paper Title: ENTREPRENEURSHIP DEVELOPMENT
Paper Code: BCOM-305
UNITS COVERED IN QUESTION BANK: UNIT 1, UNIT 2

MCQs

1. Entrepreneur who start a venture but dont like to manage and sell it off are
(a) Technical entrepreneurs (c) Business entrepreneurs
(b) Drone entrepreneurs (d) Professional entrepreneurs
2. The concept of small business can be defined according to
(a) Size of business (c) Both
(b) Qualitative criteria (d) None of these
3. Who said that entrepreneurship is the practice of starting a new organization or revitalizing
mature organizations, particularly new businesses generally in response to identified
opportunities
(a) Onuoha (c) Cole
(b) Peter Drucker (d) Schumpeter
4. In India manufacturing small enterprises investment in P&M
(a) More than Rs. 25 lakhs (c) More than Rs. 10 lakhs
(b) More than Rs. 20 lakhs (d) More than Rs. 15 lakhs
5. Which is NOT a Jordans 4 CORE concept of creativity
(a) Curiosity (c) Risk
(b) Optimistic (d) Energy
6. Who was the first person, who used the term entrepreneur to refer to economic activities
(a) J.B.Say (c) Peter Drucker
(b) Richard Cantillon (d) Cole
7. In order to be patentable an invention must be
(a) Useful (c) Non obvious
(b) New (d) All of the above
8. Theory of social change was given by
(a) Hayek (c) Schumpeter
 (b) Hagen (d) Kirzner
9. In which type of ventures founders usually do not maintain control over the firm indefinitely
and hand it over to more qualified individuals when it grows to a certain level
(a) Life style venture (c) High growth venture
(b) Traditional small business (d) Venture capitalists
10. Which type of personality works as per the norms of the society but with no hope of
improvement in the working conditions
(a) Retreatist (c) Rebellion
(b) Ritualist (d) Innovator
11. Individuals who have high level of creativity and innovation but they may not possess high
level of business knowledge
(a) Managers (c) Entrepreneurs
(b) Inventors (d) Promoters

12. According to the theory of adjustment of price which is the distinguishing characteristics of the
entrepreneur
(a) Alertness to disequilibrium (c) Problem solver
(b) Equilibrium postulate (d) Prime mover
13. Who said that innovation is a specific tool of entrepreneur, the means by which they exploit
change as an opportunity for a different business /service.
(a) Peter drucker (c) Schumpeter
(b) Cole (d) Timmson
14. A combination of more than one existing product or services into a new product or services is
which type of innovation
(a) Duplication (c) Synthesis
(b) Invention (d) Extension
15. Risk avoidance is which type of barrier to entrepreneurship
(a) Economic (c) Non economic
(b) Personal (d) Specific
16. Entrepreneurial couples who work together as co-owners of their businesses are known as
(a) Corporate cast off (c) Intrapreneurs
 (b) Co- preneurs (d) Partners
17. The two important aspects of creativity are
(a) People and process (c) Ideas and values
(b) Ideas and process (d) People and values
18. Whose point of view gives more importance to the aspects like perception of market
opportunities and operational skills as qualities required to carry out an enterprise.
(a) Economic (c) Managerial
(b) Sociologist (d) Psychologist
19. Which type of entrepreneurs an increasing tendency of leaving the corporate and becoming
entrepreneurs
(a) Corporate drop outs (c) Part time
(b) Corporate cast off (d) Immigrants
20. Which type of business is included in small business
(a) Retail (c) Both of them
(b) Partnership (d) Only option (b)
21. Which theory states that demand for entrepreneurship stems from need to adjust to change but
supply of entrepreneurship is limited.
(a) X efficiency (c) Dynamic
(b) Economic (d) Max weber view
22. The minimum punishment for infringement of copy right is imprisonment with a minimum fine
of
(a) Rs. 40,000 (c) Rs. 1,00,000
(b) Rs. 50,000 (d) Rs. 10,000
23. Which is NOT a function of entrepreneur
(a) Market Research (c) Adaptability
(b) Raising capital (d) Organization of resources
24. According to whose point of view, its the high need for achievement which drives people
towards entrepreneurial activities.
(a) Managerial (c) Economic
(b) Psychologist (d) Sociologist
25. The maximum deduction as Fines from the Wages should not exceed
 (a) 3% (c) 2%
(b) 4% (d) 5%
26. Which type of entrepreneur is motivated by the facilities and support provided by the
government and other agencies
(a) Pure (c) Accidental
(b) Induced (d) Aspiring
27. The ability to generate a large number of relevant ideas relatively rapidly with reference to a
given problem/situation/issue under consideration
(a) Conceptual flexibility (c) Conceptual fluency
(b) Originality (d) Complexity orientation
28. Who gave this definition of entrepreneur, to initiate, maintain and aggrandize a profit oriented
business unit for production / distribution of economic goods and services
(a) Leon Walrus (c) J.B.Say
(b) Cole (d) Cantillon
29. Theory of cultural values was propounded by
(a) Max weber (c) Stoke
(b) Thomas Cocchran (d) Cole
30. Which is NOT a type of innovation
(a) Invention (c) Replicating
(b) Intension (d) Synthesis

SHORT NOTES

1. Types of innovation
2. Hoselitz Theory
3. Entrepreneurship & Economic Development
4. Qualities of entrepreneur
5. Venture capital

LONG QUESTIONS

Q1. What mistakes can be made by an entrepreneur while starting a new venture? How can these
mistakes be avoided?
Q2. What do mean by entrepreneurial culture? Explain the cultural diversity of entrepreneurship.

Q3. Discuss the meaning and importance of small business in India.

Q4. Explain any two theories

a. Theory of social change

b. Max Weber view
c. Stokes theory

Q5. Explain the pathways and types of new venture.

Q6. Explain the sources of finance for entrepreneurs.

Q7. Explain different types of entrepreneurs in detail.