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

A good product or service opportunity should add value for:

• A) The buyer/end user
• B) The entrepreneur
• C) The environment
• D) All of the given options are correct

Industry analysis is related to reviewing the political, economic and market factors that influence the business venture and the way it develops.

• A) True
• B) False
• C)
• D)

Which one of the following(s) might be characteristic of a successful entrepreneur?

• A) Passion for business
• B) All of the above
• C) Execution intelligence
• D) Tenacity despite failure

Grameen bank issues loan on very low interest rate to poor segments of the society in Bangladesh. This is the best example of:

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

Owner of a franchise outlet overestimated the business growth of the company from which he purchased the franchise. Which of the following conditions for a good franchiser – franchisee relationship has been compromised in this case?

• A) Open mindedness
• B) Anticipation
• C) Responsiveness
• D) Empathy