_________________ is a company that sells a franchise outlet to a person in return of a specific fee with mutually decided agreement.

• A) Franchisee
• B) Securities and Exchange Commission (SECP)
• C) Franchise consultant
• D) Franchiser

An entrepreneur’s traits of _________________ help him in sustainability and growth.

• A) Knowledge and inspiration
• B) Determination
• C) Dream, desire, and creativity
• D) Leadership and networking

An entrepreneur has all the qualities of a successful entrepreneur but he does not have confidence for his products that he is to sell in the market. Which of the following characteristics of successful entrepreneur is he primarily lacking?

• A) Self-assurance
• B) Strong work ethics
• C) Being self-starter
• D) Open mindedness

Demography of a population includes:

• A) Age
• B) All of the given options are correct
• C) Income
• D) Ethnicity

Planned economic system is alternatively called as:

• A) Free market system
• B) Command economic system
• C) Market economic system
• D) Mixed economic system

A franchisee of McDonalds has to follow the same style of building, SOPs, design and layout, logo etc. This is an example of ________________ type of franchiser control.

• A) Required operating hours and advertising
• B) Approval of site and facility’s appearance
• C) Restriction of good / service to be sold
• D) Restriction of sales territory

Which one of the following characteristics of a successful entrepreneur require him to keep working for his venture even after initial setbacks?

• A) Information seeking
• B) Learning
• C) Goal setting
• D) Persistence

People who eat home grown vegetables and fruits show inclination towards which of the following current trends?

• A) Organic orientation trend
• B) Fitness and health trend
• C) Green trend
• D) Clean energy trend

In ________________________, an entrepreneur sees the problem or gap and an opportunity to create a business and fills the gap.

• A) Joint ventures
• B) Externally stimulated ventures
• C) Internally stimulated ventures
• D) Concept based business

Problem inventory analysis is a method for obtaining new ideas and solutions by focusing on existing problems.

• A) False
• B) True
• C)
• D)

Which one of the following modes of business only operates under a two-party system?

• A) Franchising
• B) Buying an existing business
• C) Joining the already existing family business
• D) Pure entrepreneurship route

Which of the following is NOT one of the stages of entrepreneurial process?

• A) Creative idea generation
• B) Networking with other entrepreneurs
• C) Decision to become entrepreneur
• D) Opportunity seeking

The integral part of doing any business is to keep track of the competitors and the industry which is termed as:

• A) Market intelligence
• B) Competitors’ analysis
• C) Market research
• D) Industrial analysis

A person who starts a business after the age of 50 years is called:

• A) Senior entrepreneur
• B) Social entrepreneur
• C) Co-entrepreneur
• D) Serial entrepreneur

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?

• A) Initial franchise fee
• B) Advertising expense
• C) Royalty payment
• D) Cash investment

Command economic system is a system controlled and directed by a central authority which is usually the elite class of the relative country.

• A) True
• B) False
• C)
• D)

An entrepreneur’s traits of leadership and networking help him at which stage of entrepreneurial process?

• A) Sustainability and growth
• B) Venture development
• C) Idea generation
• D) Production and operations

In ________________, demand and supply regulates the market instead of the government.

• A) Hybrid economic system
• B) Free market system
• C) Command economic system
• D) Mixed economic system

An entrepreneur is determined to persist with his new business even after initial pitfalls in his entrepreneurial journey. Which one of the following characteristics of a successful entrepreneur is he having?

• A) None of the above
• B) Tenacity despite failure
• C) Execution intelligence
• D) Passion for business

Mr. Ahmad has started a new business of a pharmaceutical company and wants to remain fully focused on it without any additional source of income. This is an example of:

• A) Social entrepreneurship
• B) Part-time entrepreneurship
• C) Co-entrepreneurship
• D) Full-time entrepreneurship