Take your time to read instructions before taking this test.

There are 40 questions which you are to answer in 15 minutes that gives you roughly 30 seconds per question.

If you can get at least 60%, you can be rest assured that you’ll ace ENT 101 exam

In a normal exam you will be asked between 40 – 60 questions but I only arranged 40 questions

Note

Do not be in a hurry to answer the questions
Do not waste time on a question you don’t know
Move as fast as possible and starting with questions that don’t have calculation first to save time
Always crosscheck
Don’t be in a hurry to submit, you are not in a competition
Don’t be scared. Getting an A is easy
Don’t be over confident, you can end up a D, E or F. Calm your blood, no be only you sabi book
Please do well to use our comment box incase there’s a message you want to pass to us

70 – 100 A

60 – 69 B

50 – 59 C

45 – 49 D

40 – 44 E

0 – 39 F

I wish you success

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ENT 101

1 / 60

1. _____ is a new idea, device, or process.

A. Innovation

B. Summarization

C. Globalisation

D. Memorization

2 / 60

Who is an Entrepreneur?

A. Someone who promote business

B. Any Individual having capability to initiate and successfully run an enterprise.

C. A person who established business

D. An Individual that makes profit

3 / 60

3. The one who creates a new enterprise in a risky and uncertain environment is
referred to as a (an)……………...

A. entrepreneur

B. adventurist

C. risk taker

D. leader

4 / 60

4. The first step in creative process according to Holt (1992) is:

A. Incubation

B. Verification

C. Preparation

D. Idea generation

5 / 60

5. Below are characteristics of an Entrepreneur except ____

A. Family orientation

B. Risk taker

C. Self Oriented

D. Originality

6 / 60

According to Casson and Wadeson, what do entrepreneurs shape through their decisions?

A. Market dynamics

B. isk management strategies

C. Regulatory frameworks

D. Financial institutions

7 / 60

7. Who described entrepreneurship as the process of discovering, evaluating, and exploiting opportunities?

A. David McClelland

B. Michael Porter

C. Shane and Venkataraman

D. Bruce Kirchhoff

8 / 60

8. All of these are some of the major types of An Entrepreneur except ______

A. Kept partner

B. Speculator

C. Loan manager

D. Soloist

9 / 60

9. Which scholar views entrepreneurs as decision-makers under uncertainty?

A. David McClelland

B. Frank Knight

C. Mark Casson

D. William Baumol

10 / 60

10. Who first used the term "entrepreneur"?

A. Richard Cantillon

B. Peter Drucker

C. Jean-Baptiste Say

D. Joseph Schumpeter

11 / 60

11. How did Israel Kirzner define an entrepreneur?

A. As a market arbitrageur

B. As a technology developer

C. As someone creating new markets

D. As a product innovator

12 / 60

12. Marketing research is the set of process that links the Consumer, Customer and public to the marketer through information. True or false?

A. False

B. True

13 / 60

13. Modern entrepreneurship in Nigeria began with:

A. Colonial influence

B. Agricultural development

C. Industrial revolution

D. Formal education

14 / 60

14.

Which of the following is considered as the major mistakes that must be avoided by young Entrepreneurs?

A. Ability to source for Capital

B. Ability to Loan others

C. Risk of Uncertainties

D. All

15 / 60

15. _____ is one of the causes of business failure.

A. Poor feasibility study

B. Declining profit

C. Rendering loan

D. Wise planing activities

16 / 60

16. The refusal of expatriates to use local entrepreneurs led to:

A. A thriving market economy

B. Stronger trade unions

C. A slow flow of entrepreneurship development

D. Increased local production

17 / 60

17. What does "creative destruction" refer to in entrepreneurship?

A. Innovating to replace old products and methods

B. Eliminating all market risks

C. Destroying competitors

D. Systematically dismantling businesses

18 / 60

18. Which scholar described entrepreneurship as the creation of new organizations?

A. Shane and Venkataraman

B. Richard Cantillon

C. Gartner, W.B.

D. Howard Stevenson

19 / 60

19. The widely accepted definition of entrepreneurship by Peter Drucker focuses on:

A. Risk management

B. Competitive market dynamics

C. Wealth creation

D. Systematic opportunity-seeking

20 / 60

20. What is the primary role of an entrepreneur?

A. Manage existing businesses

B. Study market trends without taking risks

C. Create, organize, and operate businesses

D. Perform accounting tasks

21 / 60

21. __________________ is a system principle governing the appropriate conduct for a person or group

A. law

B. ethics

C. risk

D. management

22 / 60

22. Early Nigerian entrepreneurs relied on:

A. Government loans

B. Trade by barter

C. Foreign investments

D. Stock markets

23 / 60

23. ____ defines globalization as the process of creating networks of connection among actors in year _______.

A. Clark, 2000

B. Nwafor, 2000

C. Richard, 1999

D. Owoeye, 1984

24 / 60

24. What is the widely accepted definition of entrepreneurship by Peter Drucker?

A. Systematically searching for change and exploiting it as an opportunity

B. The process of exploiting market inefficiencies

C. Creating new organizations to stabilize markets

D. Managing uncertainties and gaining profit

25 / 60

25.

All of these are Interpersonal skill for Entrepreneurs to succeed except ____

A. Must be a good listener

B. They should give loan to help others.

C. They should be able to lead and motivate others to follow them.

D. Should have the right mindset with great integrity.

26 / 60

26. Scholars that have contributed to the topic of entrepreneurial and functional
education include all except

A. Asika

B. Williams

C. Super

D. Obanya

27 / 60

27. Programs like the People’s Bank of Nigeria were created to:

A. Provide funding for entrepreneurs

B. Discourage entrepreneurship

C. Promote civil service employment

D. Support expatriate businesses

28 / 60

28. The Nigerian economy is primarily a _________ economy.

A. capitalist

B. mono

C. mixed

D. socialist

29 / 60

29. Who defined entrepreneurs as individuals who innovate through "creative destruction"?

A. Richard Cantillon

B. Israel Kirzner

C. Joseph Schumpeter

D. Peter Drucker

30 / 60

30. The colonial economic system discouraged Nigerian entrepreneurship by:

A. Refusing collaboration with local businessmen

B. Enforcing strict trade barriers

C. Limiting civil service jobs

D. Offering free goods

31 / 60

31. Creative process according to Holt (1992) can be classified into:

A. 7 stages

B. 6 stages

C. 5 stages

D. 4 stages

32 / 60

32. The well-established habit of doing something expertly or the habit of doing something well is known as ______________.

A. Profession

B. Skill

C. Talent

D. Learning

33 / 60

33. According to Jean-Baptiste Say, what is the role of an entrepreneur?

A. Correcting market inefficiencies

B. Managing risks and organizing resources

C. Driving competitive advantage

D. Innovating products

34 / 60

34. The concept ‘entrepreneur’ was first coined by……………...

A. Jean-Baptiste, Say

B. David, McCllenand

C. David, Hisrich

D. Richard, Cantillon

35 / 60

35. Which scholar's definition includes the term "creative destruction"?

A. Jean-Baptiste Say

B. Frank Knight

C. Joseph Schumpeter

D. Howard Stevenson

36 / 60

36. What does the term "entrepreneur" etymologically mean?

A. To innovate

B. To undertake

C. To manage

D. To build

37 / 60

37. According to Bruce Kirchhoff, what do entrepreneurs significantly contribute to?

A. Industry stabilization

B. Economic growth

C. Financial auditing

D. Market regulations

38 / 60

38. The two disciplines where entrepreneurship originated were …… / ……

A. History / French

B. French / English

C. Economics / History

D. Economics / Business

39 / 60

39. What is the central element in David McClelland's view of entrepreneurship?

A. Innovation

B. Risk-bearing

C. Wealth creation

D. Achievement motivation

40 / 60

40. The introduction of formal education during the colonial era

A. Revolutionized trade practices

B. Fostered dependency on colonial powers

C. Increased small-scale businesses

D. Promoted entrepreneurship

41 / 60

41. The non-continuous process of combining resources of time, man, money and
materials to create products, services and ideas is ………..

A. Intrapreneurship

B. production

C. management

D. entrepreneurship

42 / 60

42. Which of the following is not a function of the Feasibility Report?

A. It provides the basis for a banker, promoter, supplier of goods, the various government agencies.

B. It's an aid of promoting innovations.

C. It's an aid in business planning.

D. It gives an evaluation of new business venture for determining feasibility and profitability.

43 / 60

43. Can anyone start a business?

A. No

B. All of the above

C. Maybe

D. Yes

44 / 60

44. Entrepreneurship in Nigeria started when:

A. People began exporting goods

B. Formal education was introduced

C. Individuals produced surplus products for exchange

D. Money replaced barter

45 / 60

45. Who introduced the concept of intrapreneurs?

A. Howard Stevenson

B. Richard Cantillon

C. Gifford Pinchot

D. Michael Porter

46 / 60

46. What does Frank Knight emphasize in his definition of entrepreneurship?

A. Managerial efficiency

B. Labor allocation

C. Uncertainty and risk management

D. Profit maximization

47 / 60

47. Howard Stevenson described entrepreneurship as the pursuit of opportunities:

A. Beyond controlled resources

B. With calculated risks

C. Within current resources

D. In stable environments

48 / 60

48. ................. is the scientific stage that involves in seemingly quite unscientific procedure of guessing

A. None

B. Experimentation

C. Problem definition

D. Observation

49 / 60

49. From which language does the term "entrepreneur" originate?

A. Greek

B. German

C. Latin

D. French

50 / 60

50. Creativity is:

A. ability to imitate perfectly

B. the process of doing new things.

C. all of the above.

D. the ability to bring something new into existence.

51 / 60

51. According to Harvard Business School, an entrepreneur is someone who pursues what?

A. New opportunities regardless of current resources

B. Risk management strategies

C. Innovations within established resources

D. Market stabilization techniques

52 / 60

52. What discouraged entrepreneurship development during the colonial era?

A. Lack of raw materials

B. High taxes

C. Competitive strategies of foreign companies

D. Government policies

53 / 60

53. All of these are components of feasibility study except _____

A. The Current Analysis

B. Evaluation

C. Innovative

D. The project Scope

54 / 60

54. ______ involves the process of creating and running one's business.

A. None

B. Partnership

C. Entrepreneurship

D. Globalization

55 / 60

55. ______ was the first to apply the concept of Entrepreneur to business in year _____

A. Jean baptiste, 1877

B. Nwafor, 2014

C. Owoeye, 1855

D. Richard Cantillion, 1755

56 / 60

56. What role do entrepreneurs play according to Ronald Coase?

A. Innovation through uncertainty

B. Organizational creation

C. Competitive market dynamics

D. Transaction cost management

57 / 60

57. According to Frank Knight, entrepreneurs are rewarded for managing:

A. Market inefficiencies

B. Resource allocations

C. Uninsurable uncertainties

D. Predictable risks

58 / 60

58. Entrepreneurship and functional education curriculum is :

A. theory-centered

B. self-centered

C. tutor-centered

D. learner-centered

59 / 60

59. The characteristics of entrepreneurs as risk-bearers, coordinators and organizers,
gap-fillers, leaders, and innovators or creative imitators were listed by……………..

A. Joseph Schumpeter

B. Adam Smith

C. John Stuart Mill

D. David Ricardo

60 / 60

60. What initiative encouraged self-reliance in Nigeria post-colonial era?

A. Open Apprenticeship Scheme

B. Large-scale agricultural policies

C. Establishment of multinational corporations

D. International trade agreements

Your score is

The average score is 43%

ENT 101 CBT PRACTICE

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