Entrepreneurship, Module-1 - Practice Mode

1) Entrepreneurship means ______?.

Starting a new career Managing career Running your own business Supporting a business person

Correct Answer: Running your own business

2) What are the duties of an entrepreneur?

Talking to customers Managing finances and budgets Managing the business All of these

Correct Answer: All of these

3) Which of the following is the BEST definition of profit?

The total amount of money a business makes from selling goods or services. The money a business owner spends on personal expenses. The revenue or earnings which remain with the business owner, after all the costs are paid. The total amount of money a business earns before paying taxes.

Correct Answer: The revenue or earnings which remain with the business owner, after all the costs are paid.

4) Pratibha wants to start a Biriyani Hotel. What will she need first?

Business plan Name Board Food Items Kitchen Equipments

Correct Answer: Business plan

5) Shaheen wants good chefs to work in her hotel. What is an effective way to hire them?

By reaching out other hotel staffs By advertising the job By asking his relatives None of these

Correct Answer: By advertising the job

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