Entrepreneurship Development MCQ || Entrepreneurship Development Questions and Answers Part 1

121.  ______Skill refers to the ability to conceive new ideas and products.

  1. diagnostic
  2. conceptual
  3. technical
  4. human relation

Answer.2. conceptual

Explanation:

Conceptual management skills require the ability to make quick decisions, where required. Some types of problem-solving skills include decision-making, critical thinking, logical thinking, multitasking, and troubleshooting. The ability to identify and solve problems is also an example of conceptual skills.

 

122. The skill to handle people and to influence their behavior is known as ……………

  1. diagnostic
  2. conceptual
  3. technical
  4. human relation

Answer.4. human relation

Explanation:

Human relations skills include the ability to understand human behavior, communicate effectively with others, and to motivate individuals to accomplish their objectives.

 

123. ______Skill refers to the ability to understand problems from visible symptoms.

  1. diagnostic
  2. conceptual
  3. technical
  4. human relation

Answer.1. diagnostic

Explanation:

Diagnostic Skill refers to the ability to understand problems from visible symptoms. These skills are acquired through formal training, practice, and experimentation. See Human resource issues and advanced manufacturing technology.

 

124. The ability to use techniques, procedures, and tools of a specific field is called _____ skill.

  1. diagnostic
  2. conceptual
  3. technical
  4. human relation

Answer.3. technical

Explanation:

Technical skill is knowledge of and proficiency in activities involving methods, processes, and procedures. Thus it involves working with tools and specific techniques. Technical skill is the ability to use the specialized knowledge, procedures, and techniques of a field of activities.

 

125.  Entrepreneurship development is slow in Kerala because.

  1. natural resources are limited
  2. poor quality of manpower
  3. unstable govt
  4. none of these

Answer.4. none of these

Explanation:

Entrepreneurship development is growing at a fast rate in Kerela. Since its launch, it has incubated more than 200 of India’s most promising startups. Kerala Startup Mission is the pioneer champion in the industry.

 

126. The minimum numbers to form an ED club is.

  1. 20
  2. 25
  3. 50
  4. none of these

Answer.2. 25

Explanation:

Any College or Higher Secondary School may set up an EDC with at least 25 interested students with a teacher/faculty preferably from Commerce or Economics as Coordinator. In schools, the members will be preferably from Classes XI and XII.

 

127. Which one of the following is not a function of ED club?

  1. organic workshop
  2. interaction with promotional agencies
  3. provide infrastructure
  4. organic industrial visits

Answer.3. provide infrastructure

Explanation:

Functions of ED club

  • Organize interactive sessions with successful entrepreneurs from outside as well as within the State.
  • Organize workshops/debates.
  • Organize industrial visits to business enterprises within /outside State.
  • Interaction with promotional agencies / successful entrepreneurs / other stakeholders
  • Exposure to national and international events in various parts of the country related to industrial developments.
  • Organize Entrepreneurship Clinics & Entrepreneur Awareness Programme.
  • To introduce talented youths to industrial research organizations.
  • To familiarize the youths with the latest developments through media.

 

128.  Which of the following provides services and advice to start-up firms?

  1. Business incubators
  2. industrial estates
  3. DI
  4. none of these

Answer.1. Business incubators

Explanation:

A business Incubator refers to an organization that helps small businesses, startups, and individuals to develop and grow their businesses. This is achieved by offering a number of services like management training, office space training, and capital financing.

 

129. _______ analysis is concerned with the identification of project demand potential and selection of optimal technology.

  1. techno-economic
  2. network
  3. financial
  4. social cost-benefit

Answer.1. techno-economic

Explanation:

Techno-Economic feasibility refers to the estimation of project demand potential and choice of optimal technology.  Techno-Economic feasibility is an analysis of the existing market and technology. The choice of technology itself will be based on the demand potential in project design.

 

130. _______ analysis is concerned with the development of a detailed work plan of the project and its time profile.

  1. techno-economic
  2. network
  3. financial
  4. social cost-benefit

Answer.2. network

Explanation:

Network analysis Analysis is concerned with the development of a detailed work plan of the project and its time profile. It is a system that plans the projects by analyzing the project activities.

Projects are broken down into individual tasks or activities, which are arranged in a logical sequence. It is also decided which tasks will be performed simultaneously and which other sequentially.

It involves the development of a network to indicate a logical sequence of work that contains elements of a complex situation.

 

131. ________ Analysis involves estimation of project costs and revenues and funds required for the project.

  1. techno-economic
  2. network
  3. financial
  4. social cost-benefit

Answer.3. financial

Explanation:

Financial analysis involves the estimation of project costs and revenues and funds required for the project.

It is the process of evaluating businesses, projects, budgets, and other finance-related transactions to determine their performance and suitability. Typically, financial analysis is used to analyze whether an entity is stable, solvent, liquid, or profitable enough to warrant a monetary investment.

 

132. _______ analysis aims at analyzing the real contribution of an investment project towards welfare of the country as a whole.

  1. techno-economic
  2. network
  3. financial
  4. social cost-benefit

Answer.4. social cost-benefit

Explanation:

The social cost-benefit analysis is a tool for evaluating the value of money, particularly of public investments in many economies. It aids in decision-making with respect to the various aspects of a project and the design programs of closely interrelated projects.

 

133. ______ helps to take investment decisions.

  1. techno-economic
  2. technical
  3. financial
  4. pre-investment appraisal

Answer.4. pre-investment appraisal

Explanation:

Pre-investment appraisal & its purpose is to enable the concerned authorities to take an investment decision about the project i.e., to accept or reject.

 

134. _______ analysis is carried out to ascertain the technical soundness of the project.

  1. techno-economic
  2. technical
  3. financial
  4. pre-investment appraisal

Answer.2. technical

Explanation:

Technical appraisal involves the assessment of the technical and engineering soundness of the project.

While carrying out the technical appraisal of a project, aspects such as competence of the experts preparing the design of facilities and specifications; purchase arrangements of equipment; supervision of construction and installation; the ability of consultants, and their costs for services, are looked into.

 

135. ______ refers to manner in which a company’s inputs are transferred into output process.

  1. process
  2. method
  3. technology
  4. method

Answer.3. technology

Explanation:

Technology is the process that any company uses to convert inputs of labor, materials, capital, energy, and information into outputs of greater value.

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