MGT602 Quiz 1 by HB

Q1. Micro blogging sites are endorsed by:

1. Industry revolution
2. Industrial revolution
3. Commercial revolution
4. Technological revolution

Q2. The literal meaning of the word “entrepreneur” is:

1. To go between
2. To avoid something
3. To close a path
4. To divert

Q3. Entrepreneurs do not need to work for long hours as compared to job holders.

1. False
2. True

Q4. Which type of franchising fee is usually non-refundable and is taken at the start by the franchiser for commercial use of his name by the franchisee?

1. Initial franchise fee
2. Cash investment
3. Royalty payment
4. Advertising expense

Q5. Generally, the franchising in education sector for schools and colleges happens under the following franchising arrangement:

1. Piggyback franchising
2. Area developer
3. Product and trade name franchising
4. Business format franchising

Q6. Buying an existing business saves time, energy and cost.

1. False
2. True

Q7. Faulty business model negatively affects supply chain and delivery system.

1. True
2. False

Q8. Dot com revolution was succeeded by:

1. Social media revolution
2. Commercial computer revolution
3. Industrial revolution
4. Personal computer revolution

Q9. Which is the type of cost that a franchisee has to give to the franchiser based upon the earning of business?

1. Advertising expense
2. Cash investment
3. Initial franchise fee
4. Royalty payment

10. Which of the following conditions for a good relationship between a franchiser and franchisee is compromised when the franchisers don’t respond to the repeated telephonic calls of franchisee for guidance in his new business?

a. Open mindedness · b. Responsiveness · c. Empathy · d. Profit sharing

11.

All of the following are different ways to become an entrepreneur except:

a. Joining family business · b. Franchising · c. Getting a new job · d. Starting new venture

12.

Which of the following kinds of commitment may affect the family business?

1. All of the given options
2. Need-based commitment
3. Obligation-based commitment
4. Desire-based commitment

13.

Unskilled labor and reliance on natural resources are the fluent attributes of:

a. Factor driven economy · b. Innovation driven economy · c. Source driven economy · d. Efficiency driven economy

14. The findings of Bolton report (committee of enquiry into small firms) were published in 1972.

a. True

b. False

15. c. 16. d. 17. Mankind has been finding ways to combat life challenges. Its story from being the hunter gatherers to the part of modern technological revolution is accredited to:

a. Act of nature · b. Enterprising nature of mankind · c. Act of God · d. Act of coincidence

18. _________ are available in universities to facilitate new ventures.

a. Labs · b. Incubation Centers · c. Departments