1. According to Robertson (1967) the following are the three types of innovation except:

2. ……… claimed that four primary factors are necessary for production: land, labour, capital and entrepreneur.

3. SWOT in business means ………

4. The most formidable issue in starting new business is

5. Service-producing industries includes the following except:

6. Ability to understand customers and compete favorably with competitors is known as ………

7. One of the following is not a step in starting a new business

8. ……… is a medium to long-term debt instrument used by large companies to borrow money at a fixed rate of interest

9. Major sources of finance for small business include the following except:

10. ………………… is ………….. If an entrepreneur

11. Budgetary control is important because

12. A company can be described as an association of a number of persons united for ………

13. ……… marketing uses social networks

14. ……… is the capacity to innovate or ability to organize and manage a business concern

15. Some of these products are produced in beverages production via “fermentation” except one

16. ……… is an idea gotten through consultancy

17. Business goals play the following roles in an economy except:

18. A quantitative analysis of income and expenditure of an organization usually for a period of one year or more is known as ………

19. The person who assumes the risk of business and also manages the business venture is known as ………

20. Incorporated companies include all the following except

21. ……… is the one who assumes not only the risk of business venture but also the management of business venture.

22. Which of the following is not true of the term CAPITAL?

23. Cantillon describes an entrepreneur as someone who exercises judgment in the face of ……….

24. In financial forecasting, items on the profit and loss account and balance sheets can be related to total assets. This approach is termed as ………

25. Think big, start small is a slogan of whom?

26. ……… is the amount of share capital, which is actually issued for subscription to member of the public.

27. ……… is the relationship that exist between persons carrying out a business with a view of profit

28. The middleman that buys goods in bulk from the producer and resells in quantity to the retailer is ………

29. ……… is money used by entrepreneurs and business to buy what they need to make their products or provide their services

30. ……… are voluntary association of free and independent persons for the betterment of their economic conditions.

31. The debt instrument commonly used by companies to raise funds on long-term basis is called

32. An investigation into the potential outcome of a proposed business opportunity is known as

33. ……… factors are unwarranted conditions that force individuals to look for means of having access to the market

34. The amount of money a company has to carry on with its daily operations is known as

35. ……… is a person within a large organization who takes direct responsibility for turning an idea into profitable finished product through assertive risk taking and innovation

36. ……… in entrepreneurship can be view as the uncertainty in what might be the outcome of the business embarked on by an entrepreneur.

37. Which of the following is not an element of innovation?

38. The two major source of fund for new ventures are ……… and ………

39. The profit-making aim of every business can only be achieved by ………

40. What is your conclusion on the relevance of entrepreneurship?

41. Idea coming from self-support or design that has not existed before is known as ………

42. The agreement that guides the operation of partnership is refers to as ………

43. The main objective of feasibility studies is ………

44. ……… has been broadly defined as “getting things done through other people”

45. ……… is a business idea in the mind of entrepreneur that it transformed into profitable activities that involve exchange of value for value.

46. Risk is not attached to business opportunities in Nigeria.

47. Sources of finance for entrepreneur can be the following except

48. Finance for an entrepreneur can be sourced from the following except ………

49. A credit term that attaches discount to a specific quantity of goods bought is

50. ……… is a type of business organization

51. Modifications means improving on time by coming out with modified and more improved ideas of doing the existing business

52. ……… Techniques allow small companies or individuals to act like a big companies

53. ……… is the money used to purchase asset that will remain permanently in the business

54. The commonest type of business organization among young or first-time entrepreneur is: ………

55. The old method of exchanging goods for goods and service for service is known as ………

56. Long term sources usually above 7 years is called ………

57. Starting a business involves how many steps as highlighted by Allan 1987?

58. All the following are the functions of entrepreneur except:

59. The focus of business that the owner faces unlimited liabilities is ………

60. Durable goods that are used in the production of other goods and services are known as ………

61. The process of adding appropriate attributes to an existing idea or invention is called ………

62. All the following are long term source of capital except

63. The involvement of a firm in acquiring the services of an asset it did not previously owned is called ………

64. An entrepreneur must have business ideas that can lead to the formation of viable businesses. This idea comes from various source which includes:

65. ……… is the amount charged for insurance coverage

66. What do you understand by capital goods?

67. What is budget?

68. The basic drive behind every business activity is ………

69. Which of the following is not a broad area of entrepreneurial behavior:

70. Capital market is the market where ……… are bought and sold.