Commerce Accountancy · General Awareness

Entrepreneurship and Innovation

1,063 Questions

Entrepreneurship and innovation questions address business management, economic development, and small scale industries. These topics are highly relevant for commerce students and competitive exams focusing on business administration. Review these questions to understand enterprise structures.

Small scale industriesWomen entrepreneurs enterpriseLegal risk mitigationMultinational corporationsKnowledge based industries

Entrepreneurship and Innovation Questions

Multiple choice civics growth of rural economy rural economy changing life: 1 meaning and importance of rural development

"TRYSEM" means _________.

  1. Training Rural for Young Entrepreneur for Self-Employment

  2. Training of Young Unemployed for Self-Employment

  3. Training of Rural Youth for Self-Employment

  4. Training Women at Home for Self-Employement
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

TRYSEM stands for Training of Rural Youth for Self-Employment, a government program aimed at providing technical skills to rural youth.

Multiple choice organization of commerce and management markets and marketing meaning, nature and importance of services introduction to services nature and types of services

The purpose(s) of business that goes beyond earning profits _____________.

  1. An important institution in society

  2. For the supply of goods and services

  3. Creating job opportunities

  4. All of above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Profit making itself shall not be the purpose of business entities. It is running in an environment where a business entity's responsibilities widen. It contributes to the growth of the society. It supplies the required goods and services thereby catering to the needs of the society. A business entity creates job opportunities for the society. Thus, the purpose of a business entity has to be growth of the society by being a profitable enterprise in itself.

Multiple choice organization of commerce and management markets and marketing meaning, nature and importance of services introduction to services nature and types of services

_____________ services are the services uses used by business enterprises to conduct their activities.

  1. Business

  2. Social

  3. Personal

  4. All of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Business services are those services which are used by business enterprises for the conduct of their activities.

Social services are those services that are generally provided voluntarily in pursuit of certain social goals.
Personal services are those services which are experienced differently by different customers.

Multiple choice commerce micro, medium and small enterprises (msmes) nabard and kvic funding and assistance to small businesses privileges and other promotional measures for msmes

Which one of the following is a key in the firm's growth phase?

  1. Increase in scale

  2. Increase in profit

  3. Increase in capital

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

During the growth phase of a firm, it typically experiences an increase in scale, profitability, and capital investment as it expands its market presence and operations.

Multiple choice elements of business sources of business finance - 1 classification & choice of sources of funds classification of sources of finance owned funds and borrowed funds

Source of funds for an entrepreneur can be _______.

  1. Personal investment

  2. Venture capital

  3. Investment from 'Angels'

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
 Every entrepreneur need some source of funds to implement his idea to run a business. Source of funds for an entrepreneur can be:
a) personal investment
b) venture capital
c) investment from 'Angels': here 'angels' mean investors.
Multiple choice elements of business sources of business finance - 1 classification & choice of sources of funds classification of sources of finance owned funds and borrowed funds

Business incubators (or "accelerators") generally focus on the high-tech sector by providing support for new businesses in various stages of development. 

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Business incubators (or "accelerators") generally focus on the high-tech sector by providing support for new businesses in various stages of development- this is a true statement. Business incubators mainly help start-up companies by providing management and other facilities.

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

Which of the following quality is attributable to social entrepreneurs ? 

  1. Visionaries

  2. One man show

  3. Rationalist

  4. Rich and powerful
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Visionaries: Social entrepreneurs often seem to be possessed by their ideas,committing their lives to changing the direction of their field. they are visionaries and concerned with the practical implementation of their vision above all else.

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

Social entrepreneurship is a revolution occurring around the world, where people from all walks of life are ____________________________.

  1. developing and implementing innovative, effective and sustainable solutions in response to government's role

  2. developing and implementing innovative, effective and sustainable solutions in response to social and charitable challenges

  3. developing and implementing innovative, effective and sustainable solutions in response to social and environmental challenges

  4. developing and implementing effective and sustainable solutions in response to taxation environment challenges.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Social entrepreneuship is a global revolution where individuals (known as social entrepreneurs) developed and implemented innovative and effective solutions to society's most pressing social problems. They are ambitious and persistent with regards to tackling major environmental issues around the world.

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

Social entrepreneurs are individuals with innovative solution to  _____________________. 

  1. society's most pressing social problems.

  2. society's most common problems

  3. social problems that are not still solved

  4. social problems that are not subject to Court proceedings.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Social entrepreneurs are individuals with innovative solution to society's most pressing social problems.They are ambitious and persistent.They can tackle major social issues and offer new ideas for wide-scale change.

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

A social entrepreneurship organization uses methods in an innovative way to address: 
X. Social problem 
Y. Environmental problem 
Select the correct answer from the options given below - 

  1. $Y$ only
  2. Neither $X$ nor $Y$
  3. $X$ only
  4. Both $X$ and $Y$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A social entrepreneurship organization uses methods to address the social problems or any change in the society.It also deals with the environmental problem.

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

Business as an entrepreneurial hub is one of the major drivers identified by ________________.

  1. the Expert Committee on Innovation & Entrepreneurship

  2. innovative Start-ups

  3. incubation policy

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Business as entrepreneurial hubs is one of the major drivers identified by the Expert Committee on Innovation and Entrepreneurship with a view to give substantial boost to the innovation ecosystem and to catalyze the entrepreneurial spirit in the country.

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

Social entrepreneurs act as the _____________________________.

  1. change agent for poor people

  2. change agent for government

  3. change agent for society

  4. change agent for nation
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Social entrepreneurs act as the change agents for society,seizing opportunities others miss and improving systems and creating solutions to change the society for better.

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

Social entrepreneurs play the role of change agents in the social sector by _____________________. 

  1. adopting a mission to create and sustain social value recognizing and relentlessly pursuing new opportunities to serve that mission

  2. engaging in a process of continuous innovations, adaptations and learning.

  3. acting boldly without being limited by resources currently in hand

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Social entrepreneurs are individuals who act as an agent to change the society for better. They can tackle social issues with innovative and creative methods. They also offer wide range of ideas and act boldly .

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

In a social enterprise model measurable impact is created by the generation of _______________.

  1. funding value

  2. service value

  3. economic value

  4. social value
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Social enterprise model gives the most preference to the social value. Social entrepreneurs upholds the social and ethical value like,providing affordable health care,basi foodstuffs etc.