ENT 101 CBT Practice Questions for FUOYE Students(Now Active)

1. Provide the full meaning of the abbreviation SMEs:

2. One role of reflective thinking is to ___ repeated mistakes.

3. Ideas generated from business owners’ inventions are considered _____ sources.

4. Questioning the status quo demonstrates the use of ___ thinking.

5. The combination of critical, reflective, and creative thinking builds ___ ventures.

6. Choose a major mistake young entrepreneurs should avoid:

7. Creative thinking involves ___ from conventional patterns.

8. Willingness to pursue uncertain opportunities demonstrates ___.

9. Meredith et al defined an entrepreneur as one who gathers resources to ensure _____.

10. The story linked to the definition of entrepreneurship is the story of _____.

11. According to Jim Rohn, an enterprising person sees the making of a sculpture from _____.

12. Evaluating information from various sources is central to ___ thinking.

13. The scholar that defined an entrepreneur as one who coordinates scarce resources is _____.

14. Adapting strategies to new realities shows ___.

15. Everett Hagen viewed an entrepreneur as a _____.

16. Stepping back to examine root causes reflects ___ thinking.

17. Holt (1992) identified idea generation as the first stage of _____.

18. Entrepreneurial thinking is best described as a ___ that opens one to new learning opportunities.

19. Under-pricing is regarded as one of the mistakes of _____.

20. Long-term business survival depends largely on ___.

21. Name the term for a new idea, device, or process:

22. The deepest level of reflective thinking is ___.

23. Viewing threats as opportunities describes a _____ environment.

24. Political/legal environment consists of _____.

25. Reflective thinking involves ___ and analysis of past experiences.

26. The concept of creative and imaginative thought was introduced by _____.

27. Reviewing past actions in order to improve future decisions reflects ___.

28. An individual that builds a large company through delegation is a _____.

29. Comparing alternative courses of action strengthens ___.

30. Creativity, risk-taking, resilience, and adaptability are regarded as key ___ of entrepreneurs.

31. Identify the option that is NOT a major type of entrepreneur:

32. Define the term entrepreneur:

33. The three major forms of entrepreneurial thinking include critical, creative, and ___ thinking.

34. State the full meaning of the acronym NLBD:

35. Investments that can be undertaken simultaneously are described as _____.

36. Effective management of small businesses requires constant planning and _____.

37. Reviewing business goals periodically reflects the practice of ___.

38. Cantillon belongs to the _____ school of thought known as _____.

39. The habit of continuous learning and self-refinement is called ___.

40. One key role of critical thinking is the ability to ___ business opportunities.

41. Adding details to refine business ideas demonstrates ___.

42. A major challenge of reflective thinking is ___.

43. Evaluating market trends requires strong ___ skills.

44. The ability to identify marketplace opportunities is known as entrepreneurial thinking ___.

45. Creative marketing strategies improve ___.

46. Encouraging creativity in the workplace increases ___.

47. Lack of proper planning remains a major cause of business _____.

48. Determine the truth of the statement regarding marketing research linking the consumer to the marketer

49. Developing unique products gives entrepreneurs a ___ advantage.

50. Adjusting easily to change reflects ___.

51. Socio-cultural environment recognizes _____.

52. Inadequate working capital may result in operating _____.

53. NLDB stands for Nigeria Local Development Board formed in _____.

54. Searching for change and exploiting opportunity was emphasized by _____

55. Innovation and power concepts were introduced by _____.

56. Merriam-Webster (1972) defined an entrepreneur as one who organizes and manages a business for _____.

57. Idea generation is not regarded as a form of _____.

58. Habitual action occurs ___ conscious thought.

59. Making sound business decisions relies heavily on ___.

60. State whether any individual can start a business:

61. Pick the option that does NOT describe a characteristic of an entrepreneur:

62. Ethical judgment in business is supported by ___.

63. Entrepreneurship was defined as purposeful activity by _____.

64. Constantly spotting trends and new possibilities shows ___.

65. Evaluating information from various sources is central to ___ thinking.

66. According to Knight, an entrepreneur is a _____.

67. Pick the interpersonal skill that is NOT required for entrepreneur success

68. Determine the truth of the statement regarding marketing research linking the consumer to the marketer

69. Intellectual Property Right is abbreviated as _____.

70. A self-employed individual operating alone or with few employees is a _____

71. Environment can also be referred to as _____.

72. Okpara (2000) defined an entrepreneur as a _____.

73. Select the trait that does NOT belong to an entrepreneur:

74. Learning from past mistakes strengthens ___.

75. Entrepreneurial thinking helps individuals to ___ opportunities.

76. An entrepreneur that earns capital gain from large assets is a _____.

77. Entrepreneurial thinking encourages a culture of ___.

78. One major challenge of critical thinking is ___.

79. Reducing uncertainty in entrepreneurship is achieved through ___.

80. Select the option that is NOT a function of a feasibility report: