In this blog post, you will get the top 35 Entrepreneurship Development MCQ questions and answers. The answer to each MCQ is bold. These MCQs on Entrepreneurship are very useful for various exams like Banking, Railways, UPSC, etc;
Entrepreneurship Development MCQ questions and answers
1. Which of the following companies has been a successful start-up of the decade of 2000s in India?
Tata Steel
Crompton Engineering
Ashok Leyland
Flipkart
2. India’s start-up movement has flourished significantly in the following domain:
E-Commerce and Digital
Thermal Power Plants
Shipbuilding
None of the above
3. The government of India has launched the following initiative a few years ago to drive the start-up movement in India:
Production Linked Incentive (PLI)
Special Economic Zone (SEZ)
Startup India
Technology Development Board
4. Self-employment among rural and indigent population is supported by the following type of financial institution in India:
Mega Finance Institutions
Microfinance Institutions
Rural Electrification Corporation
BRICS Bank
5. One of the most famous start-up ecosystems founded by a premier educational institute in India is:
IIT Madras Research Park
CSIR Research Park
Mahindra Research Valley
Genome Valley
6. Which of the following is a successful medtech start-up?
Amber
Dixon
Practo
Swiggy
7. The success of a start-up is popularly measured by the following:
Revenue and Market Share
Profit and RoI
Valuation and Unicorn status
Nationality and Ethnicity
8. Most start-up enterprises when they are founded would be:
Large-scale enterprises
Medium-scale enterprises
Not-for-profit enterprises
Small-scale enterprises
9. Which of the following statements is true? (Hint: There could be more than one right answer)
Every large company today would have been an entrepreneurial start-up at inception
Even large companies could be entrepreneurial in approach
Entrepreneurship drives the economic growth of a nation
All of the above
10. A working model of the start-up product, prior to commercialisation, is usually called:
Industrial design
Consumer design
Prototype
None of the above
11. Who among the following is a famous healthcare entrepreneur?
Dr Pratap Reddy
Ratan Tata
Gautam Adani
None of the above
12. Significant value destruction by entrepreneurial ventures, including bankruptcies, happened in the following industry in India:
Automobile industry
Corporate hospital industry
Banking industry
Airlines industry
13. Apart from a creative competence, start-up founders must have the following more than anything else:
High education
Deep funding
Strong Passion
Diverse collaboration
14. The planned pathway to convert a vision into reality is called:
Strategy
Stage-gating
Tactics
Financing
15. To achieve customer acceptance, the entrepreneur must:
Identify the problem faced in the marketplace and find a creative solution.
Identify the problem faced in financing for the project and raise finance
Identify ideas that qualify for government support and implement them
Identify good talent and build an organisation
16. Shaadi.com, an online matchmaking service, is an example of the following start-up model: (Hint: There could be more than one correct answer)
Creating an accessible digital database for potential brides, bridegrooms, and their families.
Subscription-based business service model
Digital reinvention of the established process
All the above
17. For start-up success, the following must be a core technical competence:
Innovation and Creativity
Managing Government relations
Managing public relations
Managing banks
18. Valuation of a start-up improves:
With only proof of concept
With only proof of product
With only proof of business
With all the above three occurring seamlessly and successfully
19. The following doyen of the industry has been investing in start-ups after his retirement:
Anand Mahindra
Ratan Tata
Sunil Mittal
Dilip Sanghvi
20. The following institution has been a pioneer in online education in India for the last several years, reflecting entrepreneurial approaches of the Government of India and select IITs:
CSIR
IIMA
NPTEL
Intel
21. Thyrocare was established as a start-up in:
Pharmaceuticals
Sterile water
Detergents and sanitizers
Medical diagnostics
22. As a start-up, Nirma, the indigenous home detergent powder maker, demonstrated the importance of:
Overseas technical collaboration
Product positioning and marketing
Being an outsourcing partner for MNCs
Diversification from the very beginning
23. Name the iconic leader of consumer electronics who proved that even a college dropout can be a highly successful entrepreneur and transformational leader:
Richard Branson
Steve Jobs
Walt Disney
Milton Hershey
24. What was common between Microsoft, Apple, HP, and Sony during their start-up and early growth phases?
All the companies made same or similar products
All the companies were in the service industry
All the companies were co-founded
All of the above
25. Which city of India is known as the Silicon Valley of India?
Delhi
Hyderabad
Pune
Bengaluru
26. Vijay Shekhar Sharma, Byju Raveendran are few names that successfully describe the term ____________________?
a) Academicians
b) Contract partnership
c) Entrepreneurs
d) Industrialist
27. The abbreviation IP denotes?
a) Intellectual people
b) Intellectual property
c) Intangible product
d) All of the above
28. The periodic blog published by a successful IP organization is owned by?
a) The computer company
b) Internet service provider
c) The organization
d) None of the above
29. India offers IP protection to how many IPs?
a) 7/8
b) Not defined
c) 4/5
d) 3/4
30. Can we protect the shape of a soda bottle?
a) yes
b) no
c) maybe
d) only in special cases
31. Can a school science project be utilized to mend money using IP as competitive advantage?
a) Yes, all projects can
b) No
c) yes, if they satisfy the qualifying criteria for IP protection
d) maybe
32. MSME means?
a) Management of small medium enterprise
b) Micro, small and medium enterprise
c) Mega sector medium entities
d) None of the above
33. Following are types of IP?
a) Patent, designs
b) Copyright, trademark
c) Both a & b
d) innovation
34. Research parks means
a) place to carry and facilitate new research via collaboration
b) Using public parks to create data for new research
c) Parks which are marked by archaeological department for research purposes
d) All of the above
35. India’s startup Meesho raised the huge funding and was backed by Facebook. It is first ____________ ?
a) Online job opportunity platform
b) Female centric startup
c) single ecosystem that will enable all small businesses to succeed online
d) All of the above
Good
Thanks