Entrepreneurship development MCQ questions and answer

Important Entrepreneurship development MCQ questions and answers: If you are looking for Multiple Choice Questions on Entrepreneurship Development and Startup, then you are at the right place.

More MCQs

Top 25 Entrepreneurship development MCQ questions and answers

1. How long from the date of inception will an entity be called as ‘startup’ in India?

 Up to 5 years

 Up to 7 years

 Up to 10 years

 Up to 12 years

2. Which of the following outcomes will be delivered by successful entrepreneurs?

 Product-market expansion and/or segmentation

 Digital reinvention of basic products and/or services

 Fundamental transformation of industries

 Any or all of the above

3. For success of an entrepreneurial business, which of the following is required?




 All of the above

4. Which of the following is an entrepreneurial brand of recent times in India?





5. What could turn out to be risks of an entrepreneurial venture?

 Product failure

 Business failure

 Concept failure

 Any or all of the above

6. An entrepreneur who enters the market with a product or service which is based on new technology is called:

 Innovative entrepreneur

 Replicative entrepreneur

 Opportunity entrepreneur

 Necessity entrepreneur

7. A working model of the start-up product is confirmed as meeting the specifications typically in the:

 Ideation stage

 Prototyping stage

 Testing stage

 Marketing phase

8. Significant value destruction by entrepreneurial ventures, including bankruptcies, happened in the following industry in India:

 Automobile industry

 Corporate hospital industry

 Banking industry

 Airlines industry

9. The planned pathway to convert a vision into reality is called:





10. To achieve customer acceptance, the entrepreneur must:

 Identify the problem faced in the marketplace and find a creative solution

 Identify the problem faced in financing for the project and raise finance

 Identify ideas that qualify for government support and implement them

 Identify good talent and build an organisation

11. For start-up success, the following must be a core competence:

 Innovation and Creativity

 Managing Government relations

 Managing public relations

 Managing banks

12. What is the stage that immediately follows ideation in an entrepreneurial journey?





13. Choose the comprehensive answer for this question: Digital reinvention of customer service processes is exemplified by:




 All of the above

14. Bitcoin is an example of:

 Coin minting technology

 Blockchain technology

 Replacing currency notes by coins

 None of the above

15. An infrastructure that helps entrepreneurs in their early stage of the start-up life cycle with plug and play facilities and other common services is called:



 Angel investment platform

 Venture capital platform

16. Which of the following frameworks is associated with start-up entrepreneurship, especially in the phase of solution architecture, to a greater degree?


 Manufacturing process


 Design thinking

17. Which of the following best describes ‘bootcamp’ as a way of encouraging start-ups?

 A camp organized by the banks for financing start-ups

 A buyer-seller camp

 A camp outing for the stressed entrepreneurial team

 A short, intense, and tough programme for start-up entrepreneurs

18. The value chain of a start-up firm tends to get built in reality based on:

 Aspirations that the firm would like to have

 Competencies that the firm builds

 Emotions that bind the founders

 The perceptions of investors

19. Some of the new digital start-up ideas are being driven by:





20. In the electric battery prototyping, which of the following technology factors could exert the greatest influence?


 Automobile shape



21. A prototype ecosystem is the microcosm of the industrial ecosystem comprehensively because:

 A prototype requires the full value chain activities

 A prototype requires design and manufacturing facilities

 A prototype requires vendors and suppliers

 All of the above

22. Before embarking on an entrepreneurial journey, one must be introspective about:

 Others’ entrepreneurial successes role models

 One’s own entrepreneurial passion and capability

 Others’ professional successes

 None of the above

23. Exhibit Batch is a term commonly used in the product approval processes in:

 Whitegoods industry

 Automobile industry

 Pharmaceutical industry

 None of the above

24. Name a “psychic benefit” commonly felt by successful entrepreneurs:

 A belief that they are differentiated and distinctive

 The physical evidence of revenues

 The physical evidence of market share

 None of the above

25. Which of the following is probably true in respect of entrepreneurs?

 Entrepreneurs could be characterized by either extraversion or introversion

 Entrepreneurs need not necessarily be formally educated or highly skilled

 Neither a nor b is true

 Both a and b are true

No, the answer is incorrect.

Thanks for reading the Entrepreneurship development MCQ questions and answers.

Leave a Comment