Modibbo Adama University of Technology, Yola
Modibbo Adama University of Technology, Yola
Modibbo Adama University of Technology, Yola
QUESTION:
1. Medical services is a good example of _________
(a) Durable goods (b) Non-durable goods (c) Essential goods (d) Medical goods
2. Goods that are purchased frequently are referred to as ________
(a) Non-durable goods (b) Needed goods (c) Essential goods (d) Compulsory goods
3. One of the following is not an example of perishable goods?
(a) Tomatoes (b) Bathing soap (c) Chairs (d) Recharge cards
4. _______ is a great worry that causes difficult situation for entrepreneurs.
(a) competition (b) market analysis (c) risk (d) stress
5. The first step to setting up a small business is to ________
(a) earn a few pennies (b) begin with an idea (c) keep the faith (d) think like a visionary
6. To start small and finish big, one must be to do the following except _______
(a) positive (b) wait for opportunity (c) improve the business (d) be persistent
7. In the sample business plan given to you, the name of the proposed business was _______
(a) BIBI Entertainment (b) BB Entertainment (c) BBB Entertainment (d) B2 Entertainment
8. The multi-factor approach proposed that several rather than a _______ affect entrepreneurship
(a) resource (b) problem (c) single factor (d) challenge
9. The historical theory considers the effects of history on the following except _______
(a) Entrepreneur’s performance (c) emergence of entrepreneur
(b) Entrepreneur’s attitude (d) behaviour of entrepreneurs
10. The distinguishing features of an entrepreneur is also called ________ of entrepreneurs
(a) characteristics (b) history (c) successes (d) qualities
11. The entrepreneur that places passion before profit is known as the ________ entrepreneur.
(a) social (b) serial (c) skilled (d) lifestyle
12. Personal traits that drives an entrepreneur towards starting up a business include the following
except _______
(a) confidence (b) self-determination (c) self-moral (d) persistence
13. Tenacity despite failure as a personal traits of an entrepreneur means ________
(a) passion (b) persistence (c) initiative (d) being forward
14. Entrepreneurs should avoid being confident in their abilities or business idea.
(a) I agree (b) I disagree (c) Am not sure (d) No idea
15. Knowledge derived from a Nation’s population data include the following except _______
(a) Death rate (b) Sex distribution (c) Job opportunities (d) Birth rate
16. Goods that are considered necessary to every member of a society are referred to as ______
(a) vitamins (b) essential goods (c) essence goods (d) special goods
17. When an idea is first conceived by the entrepreneur either through observation or
brainstorming, it is referred to as a ________ source of business idea.
(a) external (b) primary (c) secondary (d) internal
18. External sources of business idea generation include the following except ________
(a) customers (b) competitors (c) Distributors (d) Consultants
19. Business ownership majorly include the following except ________
(a) proprietorship (b) principalship (c) partnership (d) incorporated company
20. Which is the odd one out?
(a) barber shop (b) dance theatre (c) photographer shop (d) soap making enterprises
21. Small manufacturing enterprises include the following except _________ enterprise.
(a) soap making (b) sachet water (c) shoe repair (d) exercise book
22. Transforming local industry into modern enterprise is a ________ of an entrepreneur.
(a) type (b) function (c) characteristic (d) behaviour
23. One of the side effects of being an entrepreneur is _______
(a) personal sacrifices (b) financial capability (c) autonomy (d) healthy competition
24. Wealth creation is a role played by entrepreneurship in a/an ________
(a) market (b) school (c) economy (d) job
25. A small business is one that is ______ owned.
(a) dependently (b) jointly (c) independently (d) single handedly
26. Small businesses are characterized by their _______ in its field of operation.
(a) dormant (b) dormain (c) dormane (d) dominance
27. The key areas of identifying a small business are ownership, operations and scope of ______
(a) influence (b) area (c) expansion (d) capital
28. A transporter with two buses worth 5 million naira cannot be said to be dominant in
transportation business. (a) I agree (b) I disagree (c) Am not sure (d) No idea
29. N 10, 000 can start up the following businesses except _______
(a) paper production (b) pay phone center (c) pure water distribution (d) street hawking
30. In the past, the dividing line between a small business and big business is _____ employees.
(a) 10 (b) 30 (c) 50 (d) 100
31. The theory that is concerned with the influence of environment on business startup is ______
(a) Environment theory (b) Ecological theory (c) Managerial theory (d) Political theory
32. Which of the following theories on entrepreneurship focuses on the operational skills?
(a) Operational theory (b) Managerial theory (c) Structural theory (d) Network theory
33. The history of entrepreneurship in Nigeria could be classified into ________
(a) three (b) four (c) two (d) five
34. A business leader whose means of amassing a personal fortune contributes positively to the
country in some way is called a ________
(a) business mogul (b) business magnate (c) business expert (d) captain of industry
35. Business summary in a business plan is also called ______ summary.
(a) executive (b) owner’s (c) conclusion and (d) idea
36. Customer’s demographics can be found in what aspect of a business plan?
(a) business summary (b) market analysis (c) strategy information (d) financial information
37. Financial information in a business plan provides the following information on the following
except ________
(a) budget (b) projected expenses (c) how funds will be raise (d) what material to buy
38. Early entrepreneurship in Nigeria started with _______
(a) money (b) trade by barter (c) producers (d) the white men
39. One major factor that has affected the development of entrepreneurship in Nigeria is _____
(a) government (b) culture (c) formal education (d) society
40. Entrepreneurial _______ refers to how an enterprise is been started by an entrepreneur.
(a) behaviour (b) process (c) character (d) innovation
41. _______ is when an entrepreneur develops a new product and builds a business around it.
(a) New Industry (b) New Idea (c) New Concept (d) New Enterprise
42. Entrepreneurs can also start a business enterprise with an ________
(a) old concept (b) old idea (c) old enterprise (d) old industry
43. The factors to be considered in starting up a business include the following except ______
(a) the individual (b) cultural factors (c) societal issues (d) religious issues
44. One of the following is not an advantage of small business
(a) ease of entry (b) ease of exit (c) low capital (d) Adequate technology
45. The types of risks facing an entrepreneur include the following except _______
(a) financial risk (b) career risk (c) personal risk (d) life risk
46. Future orientation is a ______ characteristics of an entrepreneur
(a) bright (b) good (c) bad (d) dark
47. The following are types of entrepreneur except ________ entrepreneur
(a) social (b) serial (c) skilled (d) lifestyle
48. The ______ entrepreneur is driven by an emotional desire to address some of the big social and
economic conditions in the world.
(a) social (b) serial (c) skilled (d) lifestyle
49. The entrepreneur that is more likely to experience repeated entrepreneurial success is called a
_______ entrepreneur.
(a) social (b) serial (c) skilled (d) lifestyle
50. Lack of managerial skills is a disadvantage of small businesses.
(a) false (b) Am not sure (c) No idea (d) True
51. The following can be classified as durable goods except _______
(a) Building (b) Meat (c) Cars (d) Mobile phones
52. A business plan comprises of the following except ________
(a) business team (b) business summary (c) business strategy (d) business progress
53. In a business plan, ________ allows you to answer how you will expand the business.
(a) business summary (b) market analysis (c) financial analysis (d) business strategy
54. A business idea can be spotted from a _______
(a) casual situation (b) casual location (c) casual position (d) casual thought
55. One of the following is not a characteristic of a venture idea.
(a) market driven (b) market oriented (c) feasible (d) intellectual property
56. The uniqueness of a business idea include the following except _______
(a) faster (b) cheaper (c) better (d) longer
57. In examining the surroundings as a source of business idea, one can consider the following
except _____ (a) market (b) education (c) personal life (d) work experience
58. ________ is essential to not only entrepreneurial business but to all facet of life.
(a) self-accomplishment (b) self-determination (c) self-courage (d) self-inspired
59. When changes occur in the society, an entrepreneur should see it as a business opportunity.
(a) False (b) True (c) Am not sure (d) No idea
60. An entrepreneur’s belief in his own abilities to perform a task is called ________
(a) creativity (b) self-efficacy (c) persistence (d) self-determination
61. Major advantages of an entrepreneurship include the following except _______
(a) feeling of achievement (b) autonomy (c) financial control (d) jack of all trades
62. One of the following is an internal source of generating business idea.
(a) Trade associations (b) Research (c) Magazines (d) Social Interaction
63. Intellectual property includes the following except _______
(a) copyrights (b) trademarks (c) patents (d) Idea management
64. Business niches that are currently under served in our areas can be a source of business idea.
(a) False (b) Am not sure (c) True (d) No idea
65. One hit wonder, as a business idea is very good for a new entrepreneur.
(a) False (b) Am not sure (c) No idea (d) True
66. Business ideas to avoid include the following except ideas on _______
(a) unfavourable markets (b) unfavourable industries (c) blasphemy goods (d) fashion
67. Studying a country’s population data can serve as a means of identifying business opportunities.
(a) No idea (b) True (c) False (d) Maybe
68. In the olden days, entrepreneurs in Nigeria used to engage the services of ________ to assist
with their production.
(a) employees (b) friends (c) colleagues (d) slaves
69. Modern entrepreneurship in Nigeria can be trace to the _______
(a) colonial master (b) trade by barter (c) Arab merchants (d) Government intervention
70. Changes in legal and political factors can serve as a source of business idea.
(a) false (b) Am not sure (c) No idea (d) True