1 Who is an entrepreneur? A A person who works for salary B A person who runs his own business C A government officer D A teacher
2 What does the term 'own boss' mean? A Working under a manager B Following office rules C Making your own business decisions D Getting fixed salary
3 Which quality is most important for an entrepreneur? A Fear of failure B Creativity C Laziness D Dependence on others
4 What is self-employment? A Working in a factory B Running your own business C Doing homework D Studying in school
5 An entrepreneur mainly takes which type of risk? A Health risk B Financial risk C Sports risk D Travel risk
6 Which is an advantage of being your own boss? A Fixed working hours B No responsibility C Freedom to make decisions D No effort needed
7 Which skill helps an entrepreneur to succeed? A Poor planning B Decision making C Avoiding work D Ignoring customers
9 What is cost of production? A Profit of business B Money spent to produce goods C Selling price D Business name
10 Which of the following is a fixed cost? A Raw material B Electricity bill C Rent of building D Packaging cost
11 Which cost changes with production level? A Fixed cost B Variable cost C Initial cost D Permanent cost
13 Which cost remains the same even if production stops? A Variable cost B Selling cost C Fixed cost D Material cost
15 Which of the following is part of production cost? A Profit B Advertisement idea C Machinery cost D Business name
16 Why is calculating cost of production important? A To close business B To fix selling price C To stop production D To avoid customers
17 Which cost includes electricity and water bills? A Raw cost B Utility cost C Marketing cost D Profit cost
18 Business plan is a? A Story book B Written document of business ideas C Computer program D Advertisement poster
19 Why is a business plan prepared? A For fun B To guide business activities C To waste time D To close business
20 Which section explains business goals? A Financial plan B Marketing plan C Objectives D Cost section
21 Which part of business plan deals with money matters? A Objectives B Financial plan C Introduction D Summary
23 Which plan shows how products will be sold? A Production plan B Marketing plan C Financial plan D Risk plan
25 Which skill is needed to devise a business plan? A Planning B Sleeping C Avoiding work D Complaining
28 Which of the following is NOT an entrepreneur? A Shop owner B Factory owner C Businessman D Office peon
29 Entrepreneurship helps economy by? A Increasing unemployment B Creating jobs C Closing factories D Reducing skills
30 Which factor affects cost of production most? A Weather B Raw material price C Color of product D Business name
34 Which is an example of small business? A Local shop B International bank C Multinational company D Government office
36 Which plan estimates profit and loss? A Marketing plan B Production plan C Financial plan D Risk plan
37 Who benefits from a business plan? A Only customers B Only workers C Entrepreneur and investors D Only teachers
39 Entrepreneurship encourages students to? A Rely only on jobs B Become job creators C Avoid business D Stop learning
40 Which document shows future business direction? A Textbook B Business plan C Story book D Newspaper
41 An individual who creates a new business, bearing most of the risks and enjoying most of the rewards, is known as a(n): A Entrepreneur B Manager C Employee D Investor
42 Which of the following is a key characteristic often associated with successful entrepreneurs? A Risk aversion B Innovation and creativity C Preference for a fixed schedule D Dependence on others for decisions
43 In the context of production costs, how is the Total Cost calculated? A Fixed Costs - Variable Costs B Fixed Costs × Variable Costs C Fixed Costs + Variable Costs D Fixed Costs / Variable Costs
44 What is the primary purpose of writing a business plan? A To design the company logo B To register the business with the government C To hire the first employee D To outline business goals and how to achieve them
45 Which type of cost remains the same regardless of the number of goods produced, such as monthly rent for a factory? A Fixed Cost B Variable Cost C Total Cost D Marginal Cost
46 Which section of a business plan provides a brief, high-level overview of the entire document? A Market Analysis B Executive Summary C Financial Plan D Appendix
47 What is a significant advantage of being your own boss? A Guaranteed income from the first day B Fixed working hours (9 am to 5 pm) C Flexibility and control over business decisions D Absence of any financial risk
48 The 'break-even point' is reached when a business's total revenue is equal to its: A Fixed Costs B Variable Costs C Profit D Total Costs
49 Which of the following is a potential disadvantage of entrepreneurship? A Long working hours and high stress levels B Limited opportunity for innovation C Lack of decision-making authority D Low potential for financial gain
50 For a software development company, the cost of electricity that increases with more computers running is an example of a: A Fixed Cost B Variable Cost C Sunk Cost D Startup Cost
51 The part of the business plan that identifies the target customers, market size, and competitors is the: A Financial Plan B Operations Plan C Market Analysis D Executive Summary
52 Which part of the business plan details the projected income, expenses, and profitability of the business? A Company Description B Marketing Strategy C Management Team D Financial Plan
53 A person who sets up a business, taking on financial risks in the hope of profit, is called a/an: A Manager B Employee C Entrepreneur D Shareholder
54 Which of the following is an example of a fixed cost for a software development company? A Electricity bill based on usage B Monthly rent for the office space C Cost of CDs for software distribution D Sales commissions
55 What is the primary document that outlines a new business's goals, strategies, and financial forecasts? A Marketing Brochure B Employee Handbook C Annual Report D Business Plan
56 Which characteristic is most crucial for an entrepreneur facing challenges and setbacks? A Persistence B Caution C Delegation D Compliance
57 Costs that change directly with the level of production, such as raw materials, are known as: A Fixed Costs B Total Costs C Variable Costs D Sunk Costs
58 Which section of a business plan provides a short, compelling overview of the entire plan? A Financial Plan B Executive Summary C Appendix D Market Analysis
59 What is a major advantage of being your own boss as an entrepreneur? A Guaranteed income B Fewer working hours C Autonomy and control over decisions D Absence of risk
60 The point at which a business's total revenues equal its total costs is called the: A Profit Point B Saturation Point C Loss Point D Break-even Point
61 A company's purpose, objectives, and how it plans to achieve them are formally stated in its: A Mission Statement B Vision Statement C Financial Statement D Marketing Slogan
62 One of the significant disadvantages of entrepreneurship is: A Lack of creative freedom B Financial instability and risk of failure C Limited learning opportunities D Having to follow orders from a superior
63 How is the Total Cost of Production calculated? A Fixed Costs - Variable Costs B Revenue - Profit C Fixed Costs × Number of Units D Fixed Costs + Variable Costs
64 The part of the business plan that identifies your target customers and competitors is the: A Market Analysis B Operational Plan C Management Team Description D Financial Projections
65 Which of the following is a key advantage of being an entrepreneur? A Guaranteed high salary B Independence in decision-making C Fixed working hours D No financial risk
66 In a business, what does the term 'fixed cost' refer to? A Costs that change every day B The price of raw materials C Expenses that remain constant regardless of production level D The cost of shipping products to customers
67 Which section of a business plan provides a brief overview of the entire document and highlights the key points? A Executive Summary B Marketing Plan C Financial Projections D Company Description
68 The costs that change directly with the amount of a product being made are known as: A Fixed Costs B Sunk Costs C Total Costs D Variable Costs
69 What is the primary purpose of conducting a market analysis in a business plan? A To calculate the total fixed costs B To identify the target audience and understand competitors C To hire new employees for the company D To design the company's logo and branding
70 Which term best describes the process of designing, launching, and running a new business venture? A Management B Marketing C Entrepreneurship D Accounting