Tag: organization of commerce and management

Questions Related to organization of commerce and management

Increase in supply or productivity of factors such as financial, labour and material is called _________.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. resource innovations

  2. expansion

  3. factor innovations

  4. innovations planning

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Correct Option: C
Explanation:

Factor Innovations means procurement of capital, labour and old material from new source or new type.

Who suggests that the process of innovation is actually of spontaneous " undeliberate learning"?

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. Knight

  2. Kirzner

  3. John Stuart Mill

  4. David Ricardo

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Correct Option: B
Explanation:

Knight claims that an entrepreneur will be able to bear the risk of a new venture if he believes that there is a significant chance of profits.

People become creative when they feel motivated primarily by the -
(W) Interest
(X) External pressures
(Y) Satisfaction
(Z) Challenge of the situation
Select the correct answer from the options given below-

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. (W), (X) & (Z)

  2. (Y), (W) & (X)

  3. (W), (Z) & (X)

  4. (Z), (W) & (Y)

Show answer
Correct Option: D
Explanation:

To be a successful entrepreneur, its the motivation of the person that boost him up. To do something different or to start a venture, there are some factors that start up the process.

The desire to be independent, to work being your own boss is one of the motivation for an entrepreneur.  The search for personal growth is also one of the motivation for an entrepreneur. The work that will reward a person more will make the person to undertake more risk.

Which of the following statement is correct in relation to 'Creativity'?

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. Creativity is not a process.

  2. Creativity is not ability to create out of nothing but the ability to generate new ideas by combining, changing, or reapplying existing ideas.

  3. Creativity does not require passion and commitment.

  4. All of above

Show answer
Correct Option: B
Explanation:

Creativity is bringing in to existence something new or innovative. It is the ability to create something new by using the existing ideas. By combining or changing or mixing the existing ideas and bringing in to life something new is ceativity.

Which of the following statement is correct in relation to 'Creativity'?

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. Creativity does not require passion and commitment.

  2. Creative people work hard to improve ideas and solutions, by making continuous and gradual alterations and refinements to their works.

  3. Creativity is not a process.

  4. All of above

Show answer
Correct Option: B
Explanation:

Creativity is bringing in to existence something new or innovative. It is the ability to create something new by using the existing ideas. By combining or changing or mixing the existing ideas and bringing in to life something new is creativity. 

 _________ is the drive and desire to do something, an inner passion and interest.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. Expertise

  2. Creative thinking skills

  3. Motivation

  4. Direction

Show answer
Correct Option: C
Explanation:

To be a successful entrepreneur, its the motivation of the person that boost him up. To do something different or to start a venture, there are some factors that start up the process.

The desire to be independent, to work being your own boss is one of the motivation for an entrepreneur.  The search for personal growth is also one of the motivation for an entrepreneur. The work that will reward a person more will make the person to undertake more risk.

___________  comes in a close second and is content with the personal satisfaction of simply being a business owner. It is derived from being optimistic.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. The had workers entrepreneur

  2. The optimizer entrepreneur

  3. The Idealist entrepreneur

  4. Sustainer type of entrepreneur

Show answer
Correct Option: B
Explanation:

Optimizer entrepreneur comes in a close second and is content with the personal satisfaction of simply being a business owner.

Everyone has a desire of becoming a business owner and if someone has such a desire then He/She falls in this category.

As the meaning of the word itself implies, sustain is to maintain; the ________________  comprise of people who like to maintain a balance between work and a personal life. Most often, they do not wish the business to grow too large where it will cut into their personal life. these people just need enough to survive.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. the hard workers entrepreneur

  2. the optimizer entrepreneur

  3. the Idealist entrepreneur

  4. sustainer type of entrepreneurs

Show answer
Correct Option: D
Explanation:

Sustainer type of entrepreneur compromise to sustain. As the meaning of the word itself implies, sustain is to maintain. They comprise of people who like to maintain a balance work and a personal life. Most often, they do not wish the business to grow too large where it will cut in to their personal life. These people just need enough to survive.

The marketing assessment process involves: __________.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. defining the problem

  2. analysis of the situation

  3. obtaining data that is specific to the problem

  4. all of above

Show answer
Correct Option: D
Explanation:

Whether it is about a new business or launching a new product,conducting a market assessment is essential to know whether there exists any demand to the idea.

Conducting the market assessment starts with defining the problem.Defining the objectives is defining the problem which is tantamount to a successful marketing campaign.
Then follows the analysis of the situation and obtaining data that is specific to the problem.

____________ are the ones who predominantly are focused to start a business to improve the world. Their motto is to work in a manner which is morally and ethically correct so as to contribute a noble cause.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. The hard workers entrepreneur

  2. The optimizer entrepreneur

  3. The Idealist entrepreneur

  4. Sustainer type of entrepreneurs

Show answer
Correct Option: C
Explanation:

The idealist entrepreneur likes innovation and enjoys working on something new or something meaningful. They are the ones who predominantly are focused to start a business to improve the world. Their motto is to work in a manner which is morally and ethically correct so as to contribute a noble cause.