Test Yourself

Entrepreneurship

Venture concepts, planning, innovation, and business arithmetic.

Subject quiz

Answer all 10 questions to see your score and a list of topics to revisit.

1. What is the difference between an entrepreneur and an enterprise? A. Entrepreneur is the person, enterprise is the venture B. Both mean the process of starting up C. Entrepreneur is the venture, enterprise is the person

2. Which entrepreneur is cautious and changes only when necessary? A. Drone entrepreneur B. Innovative entrepreneur C. Fabian entrepreneur

3. What are the three needs in McClelland’s theory? A. Planning, staffing and directing B. Food, safety and esteem C. Achievement, affiliation and power

4. What question does the feasibility study answer? A. What exactly was spent after launch? B. Is the idea practical and viable? C. What is the final employee roster?

5. How does innovation differ from invention? A. Innovation means filing a patent without using the idea B. Innovation and invention both mean repeating an existing method unchanged C. Innovation puts a new or improved idea into practical use

6. What is market segmentation? A. Setting one mandatory price for all products B. Joining two companies into one C. Dividing a market into groups with similar traits

7. What is the difference between an idea and an entrepreneurial opportunity? A. An opportunity requires an existing company B. An opportunity is any idea regardless of demand C. An opportunity combines an idea with demand and a viable way to serve it

8. What does a financial plan estimate? A. Only the location of competitors B. Only the product’s packaging design C. Funding requirements, sources and projected results

9. If fixed costs are ₹24,000 and contribution is ₹12 per unit, what is break-even volume? A. 200 units B. 288,000 units C. 2,000 units

10. Who is an angel investor? A. A bank employee who approves a loan B. An individual who invests personal funds in a venture C. A customer who pays for a product

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Subject quiz

Topics to revisit