Important MCQ-Based Questions for class 11 Entrepreneurship chapter-Entrepreneurial Functions
This page consists of Important MCQ questions from the chapter-Entrepreneurial Functions uploaded as per the CBSE syllabus and consists of a detailed explanation. Questions are prepared from the entire chapter-Entrepreneurial Functions to give you effective revision.
Find below MCQ-Based Questions for class 11 Entrepreneurship chapter-Entrepreneurial Functions
Important MCQ-based questions Entrepreneurship class 11 chapter-Entrepreneurial Functions Set-A
English - Entrepreneurial Functions
Class XI
Q. 1. An entrepreneur has to draw a/an
a. economic plan.
b. business plan.
c. financial plan.
d. corporate plan.
Answer:
(b)
Explanation: An enterprise would not be successful unless it is properly visualised, designed and marketed. Thus, an entrepreneur has to draw a business plan.
Q. 2. Prime and crucial activity of an entrepreneur is
a. managing the enterprise.
b. growth of an enterprise.
c. establishment of an enterprise.
d. assessment of various resources.
Answer:
(c)
Explanation: Though the entrepreneur might have knowledge, technology and resources available at his disposal, unless the enterprise is established, other functions do not get in focus.
Q. 3. An entrepreneur constantly strives for
a. maintaining profits.
b. maintaining quality.
c. bearing risk.
d. growth and development.
Answer:
(d)
Explanation: An entrepreneur has to look for growth potential of his products and services. He has to pursue higher goals and improved quality.
Q. 4. Various economic, social, cultural and other activities are performed to meet certain
a. human needs.
b. business requirements.
c. entrepreneurial qualities.
d. social obligations.
Answer:
(a)
Explanation: Some of these needs are economic, psychological, cultural and social. These are met by food, clothes, shelter transport, entertainment etc.
Q. 5. An entrepreneur has to convert dreams into
a. opportunities.
b. reality.
c. business.
d. originality.
Answer:
(b)
Explanation: Anentrepreneur is not a mere dreamer. In order to convert the dreams into reality, one has to be innovative.
Q. 6. The perceived opportunities are met by
a. a businessman.
b. a salesman.
c. an innovator.
d. a distributor.
Answer:
(c)
Explanation: Anentrepreneur is an innovator of ideas, products, practices and services to meet the perceived opportunities.
Q. 7. One main feature of business plan is
a. creativity.
b. costing.
c. imagination.
d. responsiveness.
Answer:
(a)
Explanation: Anentrepreneur has to draw a business plan or an action plan. He has to incorporate the sensitivities of time, place and needs.
Q. 8. An important and vital aspect of entrepreneurial functions is
a. staffing.
b. controlling.
c. resourcing.
d. marketing.
Answer:
(b)
Explanation: Resourcing refers to identification and assessment of various resources that are used in the enterprise.
Q. 9. An entrepreneur can not afford to
a. changes.
b. move.
c. remain versatile.
d. remain static.
Answer:
(d)
Explanation: An entrepreneur has to look for growth potential for his goods and services. He has to go for higher quality and standards.
Q. 10. Ensuring quality is the feature of
a. establishing the enterprise.
b. developing the business plan.
c. resourcing.
d. managing the enterprise.
Answer:
(d)
Explanation: Managing the enterprise is an important function of an entrepreneur. He has to play a key role in managing an enterprise.
Q. 11. In order to sense and understand the opportunities, the entrepreneur should have the attribute of
a. innovativeness.
b. honesty.
c. sincerity.
d. feasibility.
Answer:
(a)
Explanation: An entrepreneur has to sense the opportunity faster than others do. He should be highly innovative to get success.
Q. 12. Ability to see the risks and their returns is related to
a. innovativeness.
b. sensing the opportunity.
c. converting ideas into reality.
d. feasibility of the business.
Answer:
(b)
Explanation: An important competency that an entrepreneur should have is the ability to sense and evaluate the enterprise opportunity.
Q. 13. To convert dream into reality the entrepreneur should
a. perceive the opportunity.
b. foresee changes.
c. anticipate the quality.
d. prepare feasibility report.
Answer:
(a)
Explanation: Dreams cannot be converted into reality just by sitting at one place or just by anticipating things to happen.
Q. 14. Market sensitivity is a necessary attribute of
a. consumers.
b. producers.
c. middlemen.
d. entrepreneur.
Answer:
(d)
Explanation: In order to sense and understand the opportunities an entrepreneur should have market sensitivity.
Q. 15. Communicability is the attribute required to be a good
a. consumers.
b. producers.
c. entrepreneur.
d. middlemen.
Answer:
(c)
Explanation: Communicability is required to sense and understand the opportunities along with, imagination and responsiveness.
Q. 16. The entrepreneur might have to seek legal opinions and government permission in
a. establishing the enterprise.
b. developing the business plan.
c. resourcing.
d. managing the enterprise.
Answer:
(a)
Explanation: The entrepreneur has to show a keen acumen, sharp intellect and patience while establishing the enterprise.
Q. 17. The road map for the success of an entrepreneur is the
a. economic plan.
b. business plan.
c. financial plan.
d. corporate plan.
Answer:
(b)
Explanation: For the success of the business an entrepreneur should properly visualize, design and market goods and services.
Q. 18. Ability to estimate the differential advantage of the enterprise in a competitive environment is the feature of
a. developing the business plan.
b. sensing the opportunity.
c. converting ideas into reality.
d. establishing the enterprise.
Answer:
(b)
Explanation: An important competency that an entrepreneur should have is the ability to sense and evaluate the enterprise opportunity.
Q. 19. For converting ideas into reality an entrepreneur has to carry out
a. business analysis.
b. ideas analysis.
c. opportunity analysis.
d. reality analysis.
Answer:
(c)
Explanation: For opportunity analysis, the entrepreneur could carry out an opportunity assessment plan.
Q. 20. Ensuring quality is the feature of
a. establishing the enterprise.
b. developing the business plan.
c. growth and development.
d. managing the enterprise.
Answer:
(d)
Explanation: Managing the enterprise is an important function of an entrepreneur. He has to play a key role in managing an enterprise.
Important MCQ-based questions Entrepreneurship class 11 chapter-Entrepreneurial Functions Set-B
Q. 21. A broad understanding of the quantity and quality of the proposed products and services is the feature of
a. establishing the enterprise.
b. developing the business plan.
c. growth and development.
d. managing the enterprise.
Answer:
(b)
Explanation: An enterprise would not be successful unless it is properly visualised, designed and marketed. Thus, an entrepreneur has to draw a business plan.
Q. 22. Acquiring necessary skills to handle the idea, product or service is included in
a. converting ideas into reality.
b. developing the business plan.
c. growth and development.
d. managing the enterprise.
Answer:
(a)
Explanation: An entrepreneur is the innovator of ideas, products, practices and services to meet the perceived opportunities.
Q. 23. Ensuring returns on investment is a feature of
a. establishing the enterprise.
b. developing the business plan.
c. growth and development.
d. managing the enterprise.
Answer:
(d)
Explanation: Managing the enterprise is an important function of an entrepreneur. He has to play a key role in managing an enterprise.
Q. 24. Ability to estimate the differential advantage of the enterprise in a competitive environment is the quality of an
a. a businessman.
b. a consumer.
c. an entrepreneur.
d. a producer.
Answer:
(c)
Explanation: The success and quality of the output o the performance of the entrepreneur depends upon how well he performs his functions.
Q. 25. The catchword for growth and development is
a. hard work.
b. pursuit of excellence.
c. good sense.
d. punctuality.
Answer:
(b)
Explanation: An entrepreneur has to watch for the competitors so that the products and services have a fair advantage in the market.
Q. 26. The task for establishing an enterprise calls for
a. establishing the enterprise.
b. developing the business plan.
c. growth and development.
d. mobilization of resources.
Answer:
(b)
Explanation: Though the entrepreneur might have knowledge, technology and resources available at his disposal, unless the enterprise is established, other functions do not get in focus.
Q. 27. An important aspect that an entrepreneur has to look for is
a. cost conditions.
b. commodity price.
c. growth potential.
d. consumer choice.
Answer:
(c)
Explanation: An entrepreneur has to sense the opportunity faster than others do. He should be highly innovative to get success.
Q. 28. A business plan is drawn by
a. a businessman.
b. a consumer.
c. an entrepreneur.
d. a producer.
Answer:
(c)
Explanation: An enterprise would not be successful unless it is properly visualised, designed and marketed. Thus, an entrepreneur has to draw a business plan.
Q. 29. Dreams are converted into reality by
a. a businessman.
b. a consumer.
c. an entrepreneur.
d. a producer.
Answer:
(c)
Explanation: Anentrepreneur is an innovator of ideas, products, practices and services to meet the perceived opportunities.
Q. 30. The success of the business plan depends upon the
a. cost ratio.
b. road map.
c. output.
d. guide map.
Answer:
(b)
Explanation: Anentrepreneur is an innovator of ideas, products, practices and services to meet the perceived opportunities.