MGT602 Midterm Solved Papers Set 2

Fall 2009 MGT602- Entrepreneurship

Q1. Being one’s own boss is a need of: (1 marks)

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

Correct answer: Independence

Q2. With a commercial history of only 300 years, which country was a new comer to the international arena? (1 marks)

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

Correct answer: U.S

Q3. Which of the following is a obstacle to going in international business? (1 marks)

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

Correct answer: Trade barriers

Q4. Which one of the following is an important source of idea generation due to their familiarity with the needs of market? (1 marks)

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

Correct answer: Distribution channels

Q5. A/an ______ is an online connection between the company and its customers. (1 marks)

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

Correct answer: Website

Q6. Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process? (1 marks)

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

Correct answer: Product Development Stage

Q7. All of the following are essentials to maintain secrecy, EXCEPT: (1 marks)

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

Q8. Which one of the following is the main problem for the entrepreneur in the beginning stages of creating a new venture? (1 marks)

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

Correct answer: None of the given options

Q9. How many perspectives should be considered while preparing business plan? (1 marks)

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

Correct answer: Three

Q10. SBA stands for: (1 marks)

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

Correct answer: Small business administration

Q11. Which one of the following is NOT an environmental factor? (1 marks)

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

Correct answer: Competition

Q12. Which one of the following guide the firm through the long term decision making? (1 marks)

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

Correct answer: None of the given options

Q13. Which one of the following is NOT included in four C’s evaluation by lender? (1 marks)

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

Correct answer: Continuity

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

Q15. Which of the following body issues patents? (1 marks)

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

Correct answer: PTO

Q16. Which of the following is a idea generation method that focuses on parameters? (1 marks)

1. Brainstorming
2. Reverse brainstorming
3. Creative problem solving
4. Synectics

Correct answer: Creative problem solving

Q17. Please choose one Developing a new idea through inquiry and testing is called: (1 marks)

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

Correct answer: Scientific method

Q18. Trade barriers cause: (1 marks)

1. Increase in cost
2. Decrease in cost
3. Increase in profit
4. None of the given options

Correct answer: Increase in cost

Q19. Having less than 50 percent of equity share in an international venture is called: (1 marks)

1. Minority interest
2. Joint venture
3. Majority interest
4. Exporting

Correct answer: Minority interest