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B Com Exam  >  B Com Tests  >  Entrepreneurship & Small Businesses  >  Test: Introduction to Entrepreneurship and Small Business - 2 - B Com MCQ

Test: Introduction to Entrepreneurship and Small Business - 2 - B Com MCQ


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10 Questions MCQ Test Entrepreneurship & Small Businesses - Test: Introduction to Entrepreneurship and Small Business - 2

Test: Introduction to Entrepreneurship and Small Business - 2 for B Com 2024 is part of Entrepreneurship & Small Businesses preparation. The Test: Introduction to Entrepreneurship and Small Business - 2 questions and answers have been prepared according to the B Com exam syllabus.The Test: Introduction to Entrepreneurship and Small Business - 2 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Introduction to Entrepreneurship and Small Business - 2 below.
Solutions of Test: Introduction to Entrepreneurship and Small Business - 2 questions in English are available as part of our Entrepreneurship & Small Businesses for B Com & Test: Introduction to Entrepreneurship and Small Business - 2 solutions in Hindi for Entrepreneurship & Small Businesses course. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free. Attempt Test: Introduction to Entrepreneurship and Small Business - 2 | 10 questions in 10 minutes | Mock test for B Com preparation | Free important questions MCQ to study Entrepreneurship & Small Businesses for B Com Exam | Download free PDF with solutions
Test: Introduction to Entrepreneurship and Small Business - 2 - Question 1
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What type of risk involves the mental agonies an entrepreneur bears while organizing and running a business venture?

Detailed Solution for Test: Introduction to Entrepreneurship and Small Business - 2 - Question 1
Psychological Risk is the type of risk that involves the mental agonies an entrepreneur bears while organizing and running a business venture. This risk can be attributed to the stress and emotional challenges that come with entrepreneurship. It's important for entrepreneurs to develop resilience and coping mechanisms to deal with this aspect of risk.
Test: Introduction to Entrepreneurship and Small Business - 2 - Question 2
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According to Max Weber, what role does religious belief play in shaping entrepreneurial culture?

Detailed Solution for Test: Introduction to Entrepreneurship and Small Business - 2 - Question 2
According to Max Weber, religious belief plays a significant role in shaping entrepreneurial culture. He emphasized that entrepreneurial energies are supplied by religious belief. In some cultures, religious beliefs and values can strongly influence the attitudes and behaviors of entrepreneurs.
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Test: Introduction to Entrepreneurship and Small Business - 2 - Question 3
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Which factor is NOT considered one of the environmental barriers to entrepreneurship?

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Lack of Personal Motivation is not typically considered an environmental barrier to entrepreneurship. Environmental barriers are external factors that hinder entrepreneurial activities, while personal motivation is an internal factor that can drive individuals to become entrepreneurs.
Test: Introduction to Entrepreneurship and Small Business - 2 - Question 4
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What role does social marginality play in promoting entrepreneurship?
Detailed Solution for Test: Introduction to Entrepreneurship and Small Business - 2 - Question 4
Social marginality provides personnel to assume entrepreneurial roles. Individuals or groups on the periphery of a social system or between two social systems often have the motivation and characteristics that make them more likely to become entrepreneurs.
Test: Introduction to Entrepreneurship and Small Business - 2 - Question 5
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What is the primary reward for an entrepreneur for bearing risk in their venture?
Detailed Solution for Test: Introduction to Entrepreneurship and Small Business - 2 - Question 5
The primary reward for an entrepreneur for bearing risk in their venture is Profits from the venture. Entrepreneurs invest their time, money, and effort into their business ventures with the expectation of earning profits as a return on their investment.
Test: Introduction to Entrepreneurship and Small Business - 2 - Question 6
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In terms of venture creation, what is the primary difference between an entrepreneur and a manager?
Detailed Solution for Test: Introduction to Entrepreneurship and Small Business - 2 - Question 6
Entrepreneurs focus on innovation and often create new ventures, while managers typically focus on maintaining the stability and operations of existing ventures. Entrepreneurs are more involved in initiating change and introducing new ideas, whereas managers are responsible for managing existing processes.
Test: Introduction to Entrepreneurship and Small Business - 2 - Question 7
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What is the primary motivation for an entrepreneur?
Detailed Solution for Test: Introduction to Entrepreneurship and Small Business - 2 - Question 7
The primary motivation for an entrepreneur is Profits from the venture. Entrepreneurs take on the risks and challenges of starting and running a business with the expectation of earning profits as a return on their investment and effort.
Test: Introduction to Entrepreneurship and Small Business - 2 - Question 8
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How do infrastructure facilities like power, transportation, and communication impact entrepreneurship?
Detailed Solution for Test: Introduction to Entrepreneurship and Small Business - 2 - Question 8
Infrastructure facilities like power, transportation, and communication provide external economies and improve the efficiency of investments by entrepreneurs. They make it easier for entrepreneurs to set up and operate their businesses, reducing costs and improving accessibility.
Test: Introduction to Entrepreneurship and Small Business - 2 - Question 9
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What distinguishes an entrepreneur from a manager in terms of change and innovation?
Detailed Solution for Test: Introduction to Entrepreneurship and Small Business - 2 - Question 9
Entrepreneurs initiate and embrace change and innovation, while managers often maintain the status quo. Entrepreneurs are more inclined to introduce new ideas and methods to increase profits, whereas managers tend to operate within established systems.
Test: Introduction to Entrepreneurship and Small Business - 2 - Question 10
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What is the primary difference between the roles of an entrepreneur and a manager in terms of reward?
Detailed Solution for Test: Introduction to Entrepreneurship and Small Business - 2 - Question 10

The primary difference in reward between entrepreneurs and managers is that entrepreneurs earn profits from their ventures, which can vary widely based on the success of the business. In contrast, managers typically receive a fixed monthly salary regardless of the performance of the organization.

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