Small Business Test

Result

Small Business Test - 12

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Weekly Quiz Competition

Question 1
1 / -0

Which of the following traditional village industries prossess the highest labour productivity?

A
Handicrafts

B
Sericulture

C
Coir

D
All of the above

Solution

Indian handicrafts is an art of making crafts by hand in India is called Indian handicrafts, in ancient India people lived in colonies called tribals and they were used to make utility items for their daily needs, that art of making the crafts called handicrafts, and the items called handicrafts goods.
Handicrafts are hugely important in terms of economic development. They provide ample opportunities for employment even with low capital investments and thus become a prominent medium for foreign earnings. From transforming the traditional Indian arts, and crafts to the customized version of an overseas art form.
Hence, option (A) is the correct answer.
Question 2
1 / -0

Creativity is the ____________ for innovation.

A
End point

B
Middle point

C
Starting point

D
All of the above

Solution

Creative work results in innovation. So, creativity is the starting point for innovation. The extent of creativity marks the existence of innovation.
Hence, option (C) is the correct answer.
Question 3
1 / -0

Which of the following is characteristic(s) of an entrepreneur?

A
Entrepreneur must have creative thinking of art.

B
He should guard his family secrets from his competitors

C
He must have clear objectives as to the exact nature of goods

D
All of above
Question 4
1 / -0

Which of the following is characteristic(s) of an entrepreneur?

A
He must maintain good relations with his customers, employees etc.

B
He should have good communication skills

C
He should guard his business secrets from his competitors.

D
All of above

Solution

Some characteristics that an entrepreneur needs to have are:-
1. Mental ability:- to have creative thinking and must be able to analyze situations and problems.
2. Business Secrecy:- he should protect his business secrets from his competitors.
3. Clear objectives:- must have a clear objective of what to be pursued in the future.
4,. Communication ability:- should poses good communication ability and skills.
5. Human Relation:- he must maintain good relations with suppliers, customers, employees, etc.
Hence, option (D) is the correct answer.
Question 5
1 / -0

Research indicates that most successful entrepreneurs share certain personal attributes, including ________.

A
Leadership

B
Passion

C
Self-confident

D
All of the above

Solution

An entrepreneur possess some personal traits. Some traits are as follows:-
1. He is a person who develops and owns his own enterprise.
2.He is innovative.
3. He is a moderate risk-taker.
4. Poses leadership quality.
5. Reflects a strong urge to be independent.
6. Dissatisfied with routine activities.
7. Passionate.
8. oriented towards the future.
9. convert a situation into opportunities.
Question 6
1 / -0

Which of the following is not considered a common characteristic of an entrepreneur?

A
Internal locus of control

B
High need for achievement

C
Self-confident

D
External locus of control

Solution

Following are the characteristics often found in an entrepreneur:-
1. Disciplined
2. Confidence
3. open-minded
4. Self-starter
5. Competitive
6. Creativity
7. Determination
8. Strong people skills
9. Strong work ethic
10. Passion
Thus, External Locus of control is not a characteristic of an entrepreneur
Question 7
1 / -0

Innovation is the tool of _________.

A
Managership

B
Entrepreneurship

C
Ownership

D
Intrepreneurship

Solution

Innovation is the tool of entrepreneurship. How innovative a person determines his ability to be a successful entrepreneur. Innovation drives entrepreneurship. It is the stepping stone for a start-up.
Hence, option (B) is the correct answer.
Question 8
1 / -0

Creativity is the ability to make or otherwise bring into existences something new, whether a ___________.

A
New solution to a problem

B
New method or device

C
New artistic object or form

D
All of the above

Solution

Creativity can be anything. Maybe a product, service, device, solution to a problem, or form of doing something. It relates to working or applying skills and the ability to bring into existence something new.
Hence, option (D) is the correct answer.
Question 9
1 / -0

Which of the following is not a personal characteristic often found in an entrepreneur?

A
Self- confident

B
Independent-minded

C
Perceptive

D
Follower

Solution

Following are the characteristics often found in an entrepreneur:-
1. Disciplined
2. Confidence
3. open-minded
4. Self-starter
5. Competitive
6. Creativity
7. Determination
8. Strong people skills
9. Strong work ethic
10. Passion
thus, the follower is not a characteristic of an entrepreneur.
Question 10
1 / -0

Which of the following are risks for entrepreneurs in small business?

A
Interference with personal lives

B
Psychological stress

C
Social and family pressure

D
All of the above
Solution
Following are the risk for entrepreneurs in small business-
Abandoning the steady paycheck.
Sacrificing personal capital.
Relying on cash flow.
Estimating popular interest.
Trusting a key employee.
Betting on a crucial deadline.
Donating personal time
Psychological stress
Social and family pressure

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Re-Attempt Weekly Quiz Competition

Small Business Test - 12

Result

Small Business Test - 12

Score

-

Rank

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SHARING IS CARING

Question 1

Handicrafts

Sericulture

Coir

All of the above

Solution

Question 2

End point

Middle point

Starting point

All of the above

Solution

Question 3

Entrepreneur must have creative thinking of art.

He should guard his family secrets from his competitors

He must have clear objectives as to the exact nature of goods

All of above

Question 4

He must maintain good relations with his customers, employees etc.

He should have good communication skills

He should guard his business secrets from his competitors.

All of above

Solution

Question 5

Leadership

Passion

Self-confident

All of the above

Solution

Question 6

Internal locus of control

High need for achievement

Self-confident

External locus of control

Solution

Question 7

Managership

Entrepreneurship

Ownership

Intrepreneurship

Solution

Question 8

New solution to a problem

New method or device

New artistic object or form

All of the above

Solution

Question 9

Self- confident

Independent-minded

Perceptive

Follower

Solution

Question 10

Interference with personal lives

Psychological stress

Social and family pressure

All of the above

Solution

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Question Analysis

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