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

Mr. Imran has ambitious desires for an entrepreneurial venture but has not been able to start it for a long time due to confusion, unrealistic desires and indecisiveness. In which one of the following categories he does fall?

• A) Social entrepreneurship
• B) Wantrepreneur
• C) Serial entrepreneurship
• D) Senior entrepreneurship

Which of the following(s) might be potential challenges for co-entrepreneurship?

• A) Profit sharing
• B) Team conflict
• C) All of the above
• D) Personality conflict

Mr. Usman has the ability to understand the balance sheets and financial ratios of his business very well. This is an example of ___________________

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

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

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

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

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

A business model that is more similar to Non-Governmental Organizations (NGOs) is called:

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

We define idea as “Something imagined or pictured in the mind”.

• A) True
• B) False
• C)
• D)

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

• A) False
• B) True
• C)
• D)