MGT602 Midterm Past Papers 11

MIDTERM EXAMINATION Fall 2009

MGT602- Entrepreneurship

Q1. ( Marks: 1 )

Being one’s own boss is a need of:

1. Independence
2. Achievement
3. Affiliation
4. Authority

Correct answer: Independence

Q2. ( Marks: 1 )

With a commercial history of only 300 years, which country was a new comer to the international arena?

1. Japan
2. U.S
3. China
4. U.K

Correct answer: China

Q3. ( Marks: 1 )

Which of the following is a obstacle to going in international business?

1. Mergers
2. Trade barriers
3. Rivalry
4. Protectionist attitudes

Correct answer: Trade barriers

Q4. ( Marks: 1 )

Which one of the following is an important source of idea generation due to their familiarity with the needs of market?

1. Existing products and services
2. Distribution channels
3. Federal government
4. Consumers

Correct answer: Distribution channels

Q5. ( Marks: 1 )

Which of the followings is NOT followed in brainstorming?

1. Criticism is done by the group members
2. The wilder idea is better
3. Quantity of ideas is required
4. The session should be fun, with no on dominating the discussion

Correct answer: Criticism is done by the group members

Q6. ( Marks: 1 )

A/an ______ is an online connection between the company and its customers.

1. Internet advertising
2. Website
3. E-Commerce
4. World Wide Web

Correct answer: Website

Q7. ( Marks: 1 )

Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process?

1. Idea Stage
2. Product Planning Stage
3. Product Development Stage
4. Test Marketing Stage

Correct answer: Product Development Stage

Q8. ( Marks: 1 )

All of the following are essentials to maintain secrecy, EXCEPT:

1. Train employees to refer sensitive questions to one person
2. Discuss business in public places
3. Provide escorts for all office visitors
4. Use simple security such as locked file cabinets

Correct answer: Discuss business in public places

Q9. ( Marks: 1 )

Licensing is a significant marketing strategy to:

1. Use intellectual property of others
2. Pirate others’ patents
3. Grow the business in new markets
4. Control the costs

Correct answer: Use intellectual property of others

Q10. ( Marks: 1 )

Which one of the following is the main problem for the entrepreneur in the beginning stages of creating a new venture?

1. Lack of experience
2. Limited resources
3. Lack of education
4. None of the given options

Correct answer: Limited resources

Q11. ( Marks: 1 )

How many perspectives should be considered while preparing business plan?

1. One
2. Three
3. Four
4. Not specific

Correct answer: Three

Q12. ( Marks: 1 )

SBA stands for:

1. Small business accountants
2. Small business administration
3. Small business adequacy
4. Small business advisors

Correct answer: Small business administration

Q13. ( Marks: 1 )

Which one of the following is NOT an environmental factor?

1. Economy
2. Culture
3. Technology
4. Competition

Correct answer: Competition

Q14. ( Marks: 1 )

Which one of the following guide the firm through the long term decision making?

1. Mission statement
2. Product forecast
3. Industry analysis
4. None of the given options

Correct answer: Mission statement

Q15. ( Marks: 1 )

Which one of the following is NOT included in four C’s evaluation by lender?

1. Character
2. Cost
3. Continuity
4. Contribution

Correct answer: Continuity

Q16. ( Marks: 1 )

For which of the following copy right acquisition is desirable?

1. Songs
2. Poems
3. Models
4. All of the given options

Correct answer: All of the given options

Q17. ( Marks: 1 )

A utility patent has a term of:

1. 10 years
2. 40 years
3. 20 years
4. 80 years

Correct answer: 20 years

Q18. ( Marks: 1 )

Which of the following body issues patents?

1. GATT
2. NAFTA
3. FTA
4. PTO

Correct answer: PTO