MGT602 Midterm Solved MCQs

Q14. A utility patent has a term of: (1 marks)

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

Correct answer: 20 years

Q16. Question No: 17 ( Marks: 1 ) - Please choose one (1 marks)

Developing a new idea through inquiry and testing is called:

1. Heuristics
2. Forced relationship
3. Scientific method
4. Value analysis

Correct answer: Scientific method

Q25. Which one of the following is not the intrapreneurial leadership characteristic? (1 marks)

1. Understands environment
2. Encourage the team work
3. Not flexible
4. Persistent

Correct answer: Not flexible

Q26. Which of the following typical culture has a climate and reward system that favors conservative decision making? (1 marks)

1. Entrepreneurial
2. Intrapreneurial
3. Corporate page
4. None of the given options

Correct answer: Corporate page

Q29. Which of the following plan describes market conditions and strategy related to products? (1 marks)

1. Production plan
2. Operational plan
3. Financial plan
4. Marketing plan

Correct answer: Marketing plan

Q34. Which one of the following is a business arrangement in which someone else is allowed to use something of the company? (1 marks)

1. Patent
2. Trade mark
3. Copy right
4. Licensing

Correct answer: Licensing

Q37. Which of the followings give the owners a negative right, preventing anyone from making, using, or selling the invention? (1 marks)

1. Patent
2. Copyright
3. Trade mark
4. Trade secret

Correct answer: Patent

Q42. A legally binding agreement between two parties is called: (1 marks)

1. A contract
2. Licensing
3. Insurance
4. A copyright

Correct answer: A contract

Q49. In some countries, point of purchase displays are not allowed in retail stores. Such differences are studied by international entrepreneurs under __________. (1 marks)

1. Economic Environment
2. Political Environment
3. Cultural Environment
4. Technological Environment

Correct answer: Cultural Environment

Q50. Most of the finance for the new firm comes from following resources (1 marks)

1. EXCEPT:
2. Friends
3. Foreign aid
4. Relatives
5. Personal savings

Q51. Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete? (1 marks)

1. New business model
2. Anatomization
3. Creative destruction
4. None of the given options

Correct answer: Creative destruction

Q53. A foundation company is formed through which of the following? (1 marks)

1. Fashion
2. Most popular business
3. A winding up company
4. Research and development

Correct answer: Research and development

Q56. Individuals influencing an entrepreneur’s career choice and style are known as which of the following? (1 marks)

1. Role model
2. Moral-support network
3. Professional support network
4. Support system

Correct answer: Role model