1
Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R) . Read the statements and choose the correct answer.Assertion (A) Entrepreneurial innovation and experimentation constantly destroy the old and introduce new equilibria, making possible higher standards of living.Reason (R) Markets do not passively tend towards equilibrium until profit margtns are wiped out.
A)
Both (A) and (R) are correct and (R) is the correct explanation of (A)
B)
Both (A) and (R) are correct, but (R) is not correct explanation of (A)
C)
(A) is correct, but (R) is incorrect
D)
Both (A) and (R) are incorrect
Answer & Solution
Answer: Option
A
2
Stree Shakti Package for Women Entrepreneurs' is operated by which bank?
A)
SIDBI
B)
SBI
C)
CANARA
D)
SIDO
Answer & Solution
Answer: Option
B
3
Match the following
List-I (Authors) List-II (Books)
a. Everett Hagen
1. Theory of Social Change
b. David C. McClelland
2. The Achieving Society
c. Joseph A. Scheumpeter
3. A Theory of Economic Development
d. Koontz and O' Donnel
4. Principles of Management
A)
a-1, b-3, c-2, d-4
B)
a-3, b-4, c-2, d-1
C)
a-3, b-1, c-4, d-2
D)
a-1, b-2, c-3, d-4
Answer & Solution
Answer: Option
D
4
Match the following
List-I (Methods of decision-making) List-II (Technique)
a. General Method
1. Traditions and Assumptions
b. Mathematical Method
2. PERT
c. Principles of Management
3. Span of Control
d. Statistical Method
4. Probability Theory
A)
a-1, b-3, c-2, d-4
B)
a-1, b-2, c-3, d-4
C)
a-3, b-1, c-4, d-2
D)
a-1, b-4, c-2, d-3
Answer & Solution
Answer: Option
B
5
Which among following is not a rural the entrepreneur?
A)
1, 2, 5
B)
1, 3, 5
C)
2, 4, 5
D)
2, 5, 6
Answer & Solution
Answer: Option
D
6
The longest lasting trade agreement with the objective of liberalizing trade by eliminating or reducing tariffs, subsidies and quotas is
A)
Free trade area - FTA
B)
European community - EC
C)
General agreement on tariffs and trade - GATT
D)
The North American free trade agreement - NAFTA
Answer & Solution
Answer: Option
C
7
A patent is granted for a specified amount of time because of the assumption:
A)
That during this time firm will cover its development costs
B)
That firm will earn a sufficient profit during this period
C)
To limit the monopoly of the firm
D)
That it will stimulate idea and development of a better product
Answer & Solution
Answer: Option
B
8
Which is the objective of entrepreneurship?
A)
To develop entrepreneurial tendencies
B)
To promote innovation
C)
Establishment of viable units
D)
All of the above
Answer & Solution
Answer: Option
D
9
A typical inventor is usually
A)
Highly creative & in love with the invention
B)
Does not encourage change
C)
Willing to modify the invention in order to augment commercial benefit
D)
None of the given options
Answer & Solution
Answer: Option
A
10
Which of the following statements are correct?Statement I An entrepreneur takes initiative and does things before they are asked to do.Statement II Entrepreneurs have external locus of control and highly rely on intuition.Statement III Entrepreneurs are highly associated with team work and group decisionmaking.
A)
Both I and II
B)
Both II and III
C)
Both I and III
D)
All of the above
Answer & Solution
Answer: Option
C
