Quiz Questions

Question 1 1 Marks

Entrepreneurship means ______?.

A

Starting a new career

B

Managing career

C

Running your own business

D

Supporting a business person

Question 2 1 Marks

What are the duties of an entrepreneur?

A

Talking to customers

B

Managing finances and budgets

C

Managing the business

D

All of these

Question 3 1 Marks

Which of the following is the BEST definition of profit?

A

The total amount of money a business makes from selling goods or services.

B

The money a business owner spends on personal expenses.

C

The revenue or earnings which remain with the business owner, after all the costs are paid.

D

The total amount of money a business earns before paying taxes.

Question 4 1 Marks

Pratibha wants to start a Biriyani Hotel. What will she need first?

A

Business plan

B

Name Board

C

Food Items

D

Kitchen Equipments

Question 5 1 Marks

Shaheen wants good chefs to work in her hotel. What is an effective way to hire them?

A

By reaching out other hotel staffs

B

By advertising the job

C

By asking his relatives

D

None of these

Question 6 1 Marks

What is the most important skill needed to be a successful entrepreneur?

A

Earning money

B

Giving up on failure

C

Having an Entrepreneuria l Mindset

D

Expanding markets

Question 7 1 Marks

An Entrepreneur can help the society by_____________.

A

Seeking new opportunities

B

Marketing the product

C

Working with a team

D

Creating job opportunities

Question 8 1 Marks

What are some of the qualities of a strong entrepreneur?

A

Learning from failures

B

Building relationship with customers

C

Working hard

D

All of these

Question 9 1 Marks

Pooja started a food court that was very successful with many customers. After a year, the number of customers decreased. What should Pooja do to solve this problem?

A

Change the Cooking Style

B

Collect the Feedback from the Customers

C

Close the Food court

D

Change her business

Question 10 1 Marks

Raju wants to start a Textile shop. What should he do first?

A

Rent a Shop

B

Purchase New Fabrics

C

Prepare a Business Plan

D

Hire Staff

Question 11 1 Marks

Self - Employment means _____.

A

Working for an employer at a fixed monthly income

B

Freelancing or running a business rather than working for an employer

C

Selling food items

D

Only focusing on earning profits

Question 12 1 Marks

A person who hires other people for their business is an____________.

A

Self -Employed

B

Employee

C

Entrepreneur

D

Employer

Question 13 1 Marks

What are the qualities of an entrepreneur that a self-employed person also needs to have?

A

Creative Thinking

B

Problem Solving

C

Customer Service

D

All of these

Question 14 1 Marks

Vidya is single-handedly selling homemade pickles to her neighbors. Vidya is a/an___________.

A

Seller

B

Self-employed person

C

Entrepreneur

D

Distributor

Question 15 1 Marks

Pawan operates a small AC service business with three employees, offering AC installation and repair. Over the next five years, he plans to expand the business to another city. Pawan is a / an____.

A

Entrepreneur

B

Contractor

C

Intern

D

Self-employed person

Question 16 1 Marks

How does Market Scan help with running a business?

A

Gives an idea about the customers

B

Helps understand about other similar business

C

Helps in making the business plan

D

All of these

Question 17 1 Marks

You want to sell toys. What should you do before starting your business?

A

Design the toys

B

Find out what children like

C

Build a factory

D

Hire salespeople

Question 18 1 Marks

Why is a market scan conducted?

A

To understand customer needs

B

To explore how to grow the business

C

To check what the competitors are offering

D

All of these

Question 19 1 Marks

Geetha wants to start a tailoring shop (boutique). Her trainer asked her to do a market scan. Geetha should do the market scan of ____________?.

A

Restaurants

B

Beauty Parlours

C

Tailoring shops

D

Packaging companies

Question 20 1 Marks

Lakshmi plans to start a beauty parlour. What kind of information should she NOT collect in the Market Scan?

A

Information on clothes and shoes

B

Information on types of customers

C

Information on cost of materials for the beauty parlour

D

Information on shop location and rent

Question 21 1 Marks

Customers' needs can be understood through _____________.

A

Customer Survey

B

Selling

C

Talking to our family

D

Customer service

Question 22 1 Marks

An Entrepreneur needs to maintain good ________? with his customers.

A

Communication

B

Relationship

C

Behavior

D

Friendship

Question 23 1 Marks

Why do customers like a product or service?

A

Good Price

B

Good Quality

C

Feel of the product or service

D

All of these

Question 24 1 Marks

Shilpa wants to start a soap-making company. What kind of questions should she NOT ask her customers?

A

Which types of soaps do you buy?

B

Do you like to eat chats?

C

How much do you pay for soap?

D

Do you use soap?

Question 25 1 Marks

Roopa wants to start a new business. But she is not sure which product she should choose to start her business. What will be her basic research to finalize her product?

A

Loan from Banks

B

Buying products from others

C

Search how to advertise the product

D

Reserach on products & services that customers are currently using

Question 26 1 Marks

Product and service are two things that can be sold. Product is what can be seen, touched and used. Service is what we ______?.

A

Buy from vegetable shop

B

Feel, Experience and Enjoy

C

Pay with Gpay

D

Do not enjoy

Question 27 1 Marks

Product is an object that can be_____________.

A

Seen

B

Touched

C

Seen, Touched and Used

D

Used

Question 28 1 Marks

Sharvan serves as a delivery agent delivering tomatoes from a farmer to a company that makes tomato sauce. What is Sharvan?s job?

A

Seller

B

Service Provider

C

Buyer

D

Distributor

Question 29 1 Marks

Select the example of a service from the options.

A

Masala Dosa

B

Mobile Repair

C

Water Bottle

D

Chicken Kebab

Question 30 1 Marks

Select the example of a product from the options.

A

Home painting

B

Parlour service

C

Shirt

D

Bike repair

Question 31 1 Marks

A business idea should__________________?.

A

Satisfy only my needs

B

Fulfill customer needs or solve their problems

C

Save the world

D

None of these

Question 32 1 Marks

A good business idea for a young or new entrepreneur should be sustainable. This means____________.

A

It is easy to use

B

It has many details

C

It has budget

D

It is planned for the present and future business growth

Question 33 1 Marks

A good business idea should be__________.

A

very common

B

a short term plan

C

very expensive to start a business

D

unique, sustainable & low on investment

Question 34 1 Marks

Low investment business plan means__________

A

The plan is a new idea

B

The plan needs a small amount to start a business

C

The plan should be simple

D

The plan should start immediately

Question 35 1 Marks

Unique Selling Proposition or USP of a business plan refers to__________.

A

A special budget for the business

B

A new customer for the business

C

A special or different idea for a business

D

An old business is updated

Question 36 1 Marks

A ______is a document with complete strategy for the business.

A

Strategy Report

B

Action Plan

C

Business plan

D

Stakeholder Report

Question 37 1 Marks

_____is not a part of a good business plan.

A

Weather Report

B

Marketing Strategy

C

Customer Analysis

D

Budget

Question 38 1 Marks

______is about the competition in the online or offline market.

A

People Analysis

B

Competitor Analysis

C

Customer Analysis

D

Budget plan

Question 39 1 Marks

How can we understand what customers want?

A

By doing research on customer needs

B

By advertising the business

C

Selling a new product

D

By moving to a new business

Question 40 1 Marks

________ part of a business plan has details of money related details of the whole business.

A

Product Details

B

Customer Analysis

C

Business Succession Plan

D

Costing

Question 41 1 Marks

A ________is a short and effective presentation to describe the business.

A

Customer Analysis

B

Communication

C

Return on Investment

D

Business Pitch

Question 42 1 Marks

A business pitch is presented to investors who helps us with ___, _, and ___.

A

Customer and Quality

B

Money, Resources, and Mentoring Support

C

Plan and Marketing

D

Profilt and Loss

Question 43 1 Marks

Who can support Entrepreneurs by providing business schemes and loans at low interest rates?

A

Customers

B

Startup Investors

C

Banks

D

Friends

Question 44 1 Marks

Shyna wants to start a masala powder business. She is presenting a business pitch to the bank manager. How long should her business picth be?

A

2 to 3 mins

B

10 mins

C

15 mins

D

1 min

Question 45 1 Marks

In a business, the money involved in building a product is called________.

A

Cost

B

Profit

C

Price

D

Discount

Question 46 1 Marks

A small business run by a single person is called as _______.

A

Multinational Unit

B

Partnership

C

Sole Proprietorship

D

Private Limited

Question 47 1 Marks

Bindu has started a small auto repair shop. She is the only person managing the business. Which kind of business it is?

A

Partnership

B

Private Limited

C

Multinational Unit

D

Sole Proprietorship

Question 48 1 Marks

_____ is the ministry in the Govt. of India that forms and implements the rules and regulations for enterprises in India.

A

MSDE

B

MSME

C

NIMI

D

DGT

Question 49 1 Marks

Which document is not required to complete UDYAM/MSME registration?

A

PAN Card

B

Aadhar Card

C

Income Tax Return

D

Blood Certificate

Question 50 1 Marks

Rahim is filing tax for the first time for his business. Which of these elements are NOT needed for filing tax?

A

Birth Certificate

B

PAN Card

C

Aadhar Card

D

Income Tax Return

Question 51 1 Marks

Price is an improtant part of marketing. Price means______________

A

Marketing

B

Rate of a product in rupees

C

Promotion

D

Raw Materials

Question 52 1 Marks

Sahil is giving festival offers, free samples and price discounts at the opening of his business. This is called _______.

A

Market scan

B

Packaging

C

Promotion

D

Selling

Question 53 1 Marks

Marketing helps the customer to learn about

A

Price

B

Availability

C

Special Discounts

D

All of these

Question 54 1 Marks

Which among the following is not a part of 7P's of marketing.

A

Product

B

Packaging

C

Price

D

Pickles

Question 55 1 Marks

Tom wants to start a shop for selling books, pens etc. Which is the best location to have his shop?

A

Near college and schools

B

Near the river

C

At his house

D

Near fish market

Question 56 1 Marks

Total cost is equal to ?

A

Variable Cost + Discount

B

Investment + Fixed Cost

C

Variable Cost + Fixed cost

D

Fixed Salary + ROI

Question 57 1 Marks

_____ cost increases or decreases depending on how much we produce or sell.

A

Variable

B

Fixed

C

Total

D

Maintenance

Question 58 1 Marks

Preeti is renting a kitchen to run a Paratha Shop, The rent of the kitchen is _____cost?

A

Variable

B

Total

C

Fixed

D

Admin

Question 59 1 Marks

______is the money we invest in producing a product or service.

A

Business revenue

B

Product Cost

C

Product Price

D

Business Pitch

Question 60 1 Marks

Mani is a painter and he buys new brushes and tins for painting. What type of cost it is?

A

Total Cost

B

Fixed Cost

C

Variable Cost

D

Maintenance

Question 61 1 Marks

The word funding means ________.

A

Money for shopping

B

Saving and Spending

C

Money to start a business

D

Bank account

Question 62 1 Marks

A ______is a new business, which later grows into a big company

A

NSIC

B

Parlours

C

Hotels

D

Start Up

Question 63 1 Marks

_____ supports entrepreneurs to get loans under several schemes in district level.

A

National small industries corporation (NSIC)

B

District Industry Centres (DIC)

C

SIDO

D

SSLC

Question 64 1 Marks

Prem wants to start a shop. He can apply for _____ loan to have benefits.

A

Home

B

MUDRA

C

Education

D

Car

Question 65 1 Marks

Seema plans to open a hotel and has applied for a MUDRA Loan. What must she submit as part of her loan MUDRA loan application?

A

Her resume

B

A business plan

C

Vacation plan

D

An essay

Question 66 1 Marks

A product name that has been officially registered with the Trademark Registry of India is _____.

A

Marked

B

Trademark

C

Approved

D

Token

Question 67 1 Marks

Entrepreneurs learn from their success as well as their ______?.

A

Failures

B

Friends

C

Profit

D

Business Pitch

Question 68 1 Marks

The secret to growing your business is to choose the right _____ to support your growth

A

Clothes

B

Family

C

Friends

D

Team

Question 69 1 Marks

Wahid wants to register his product under a trademark. What is the benefit of getting a trademark for your product?

A

He can sell it at higher rate

B

No one else can use the same product name

C

He will get a lot of success

D

He can take many loans and not repay

Question 70 1 Marks

Joy started a homemade pickle business. He has not been able to get profit in the first 2 months. What should he do?

A

End his business

B

Borrow money

C

Find reasons for his failure & learn from them

D

Get angry

Entrepreneurship means ______?.

What are the duties of an entrepreneur?

Which of the following is the BEST definition of profit?

Pratibha wants to start a Biriyani Hotel. What will she need first?

Shaheen wants good chefs to work in her hotel. What is an effective way to hire them?

What is the most important skill needed to be a successful entrepreneur?

An Entrepreneur can help the society by_____________.

What are some of the qualities of a strong entrepreneur?

Pooja started a food court that was very successful with many customers. After a year, the number of customers decreased. What should Pooja do to solve this problem?

Raju wants to start a Textile shop. What should he do first?

Self - Employment means _____.

A person who hires other people for their business is an____________.

What are the qualities of an entrepreneur that a self-employed person also needs to have?

Vidya is single-handedly selling homemade pickles to her neighbors. Vidya is a/an___________.

Pawan operates a small AC service business with three employees, offering AC installation and repair. Over the next five years, he plans to expand the business to another city. Pawan is a / an____.

How does Market Scan help with running a business?

You want to sell toys. What should you do before starting your business?

Why is a market scan conducted?

Geetha wants to start a tailoring shop (boutique). Her trainer asked her to do a market scan. Geetha should do the market scan of ____________?.

Lakshmi plans to start a beauty parlour. What kind of information should she NOT collect in the Market Scan?

Customers' needs can be understood through _____________.

An Entrepreneur needs to maintain good ________? with his customers.

Why do customers like a product or service?

Shilpa wants to start a soap-making company. What kind of questions should she NOT ask her customers?

Roopa wants to start a new business. But she is not sure which product she should choose to start her business. What will be her basic research to finalize her product?

Product and service are two things that can be sold. Product is what can be seen, touched and used. Service is what we ______?.

Product is an object that can be_____________.

Sharvan serves as a delivery agent delivering tomatoes from a farmer to a company that makes tomato sauce. What is Sharvan?s job?

Select the example of a service from the options.

Select the example of a product from the options.

A business idea should__________________?.

A good business idea for a young or new entrepreneur should be sustainable. This means____________.

A good business idea should be__________.

Low investment business plan means__________

Unique Selling Proposition or USP of a business plan refers to__________.

A ______is a document with complete strategy for the business.

_____is not a part of a good business plan.

______is about the competition in the online or offline market.

How can we understand what customers want?

________ part of a business plan has details of money related details of the whole business.

A ________is a short and effective presentation to describe the business.

A business pitch is presented to investors who helps us with _____, _____, and _____.

Who can support Entrepreneurs by providing business schemes and loans at low interest rates?

Shyna wants to start a masala powder business. She is presenting a business pitch to the bank manager. How long should her business picth be?

In a business, the money involved in building a product is called________.

A small business run by a single person is called as _______.

Bindu has started a small auto repair shop. She is the only person managing the business. Which kind of business it is?

_____ is the ministry in the Govt. of India that forms and implements the rules and regulations for enterprises in India.

Which document is not required to complete UDYAM/MSME registration?

Rahim is filing tax for the first time for his business. Which of these elements are NOT needed for filing tax?

Price is an improtant part of marketing. Price means______________

Sahil is giving festival offers, free samples and price discounts at the opening of his business. This is called _______.

Marketing helps the customer to learn about

Which among the following is not a part of 7P's of marketing.

Tom wants to start a shop for selling books, pens etc. Which is the best location to have his shop?

Total cost is equal to ?

_____ cost increases or decreases depending on how much we produce or sell.

Preeti is renting a kitchen to run a Paratha Shop, The rent of the kitchen is _____cost?

______is the money we invest in producing a product or service.

Mani is a painter and he buys new brushes and tins for painting. What type of cost it is?

The word funding means ________.

A ______is a new business, which later grows into a big company

_____ supports entrepreneurs to get loans under several schemes in district level.

Prem wants to start a shop. He can apply for _____ loan to have benefits.

Seema plans to open a hotel and has applied for a MUDRA Loan. What must she submit as part of her loan MUDRA loan application?

A product name that has been officially registered with the Trademark Registry of India is _____.

Entrepreneurs learn from their success as well as their ______?.

The secret to growing your business is to choose the right _____ to support your growth

Wahid wants to register his product under a trademark. What is the benefit of getting a trademark for your product?

Joy started a homemade pickle business. He has not been able to get profit in the first 2 months. What should he do?

A business pitch is presented to investors who helps us with ___, _, and ___.