A good product or service opportunity should add value for:

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

Which of the following age group of people is social media lover?

• A) Generation X
• B) Baby boomers
• C) Millennial
• D) None of the given options is 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)

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

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

What might be the reason(s) for a senior entrepreneur to start a business?

• A) Corporate layoffs
• B) Personal fulfillment
• C) Early retirement from a job
• D) All of the above

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

• A) Free market system
• B) Hybrid economic system
• C) Mixed economic system
• D) Command 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) Tenacity despite failure
• B) Execution intelligence
• C) None of the above
• D) Passion for business

Mr. Khalid has a very good ability to have interpersonal interactions with potential new clients of his business of supplying building construction material. This is an example of __________________

• A) Customer intelligence
• B) Persuasion and influence
• C) Data intelligence
• D) Financial intelligence

When the saturation point comes and market matures, the window of opportunity opens.

• A) False
• B) True
• C)
• D)

Which of the following is the most underutilized source of information and idea generation?

• A) Internet
• B) Incubation centers
• C) Libraries
• D) Experts

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

Which one of the following is the least risky business option for a new venture with less risk and more reward?

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

Identify the source(s) that an entrepreneur should investigate after deciding about franchising from a particular company.

• A) Securities and Exchange Commission (SECP)
• B) All of the above
• C) Internet
• D) Franchise consultants

___________________ is a technique in which a central idea is written and then participants are asked to come up with associated ideas that branch out from the central idea.

• A) Problem inventory analysis
• B) Brain storming
• C) Market research
• D) Mind mapping

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

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

For which one of the following businesses, earning profit is not the sole motive of the business?

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

An entrepreneur’s traits of ­­­­­­­­­­­­­­­____________________help him in idea generation.

• A) Determination
• B) Productivity and efficiency
• C) Learning from trial and error
• D) Knowledge and inspiration

An entrepreneur’s traits of __________________ help him in venture development.

• A) Dream, desire, and creativity
• B) Knowledge and inspiration
• C) Learning from trial and error
• D) Determination

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

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

_______________ is a person who provides paid services to the customers by guiding them about the effectiveness of a potential franchising opportunity.

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