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

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

2. Ethical judgment in business is supported by ___.

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

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

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

6. Identify the person and year associated with defining globalization as the process of creating networks of connection:

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

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

9. The deepest level of reflective thinking is ___.

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

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

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

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

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

15. Encouraging creativity in the workplace increases ___.

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

17. Understanding without practical application belongs to the level of ___.

18. An individual heading a family business is a _____.

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

20. Critical thinking is described as a ___ and self-corrective process.

21. Define the well-established habit of doing something expertly:

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

23. The operating cycle of working capital begins and ends with _____.

24. Identify a common cause of business failure

25. Evaluating market trends requires strong ___ skills.

26. Combining ideas in new ways is known as ___ thinking.

27. Developing unique products gives entrepreneurs a ___ advantage.

28. Viewing threats as opportunities describes a _____ environment.

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

30. Choose a major mistake young entrepreneurs should avoid:

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

32. Individuals preferring psychological relief through group work are known as _____.

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

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

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

36. Preference for taking over an existing business defines a _____.

37. Working capital represents money required for daily business _____.

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

39. Identify the individual and the year the concept of entrepreneur was first applied to business:

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

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

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

43. Intellectual Property Right is abbreviated as _____.

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

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

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

47. Seeing problems as opportunities reflects the principle of ___.

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

49. Reducing uncertainty in entrepreneurship is achieved through ___.

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

51. Habitual action occurs ___ conscious thought.

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

53. Name the process of creating and running one’s business:

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

55. Generating many possible solutions shows ___.

56. One major challenge of critical thinking is ___.

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

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

59. Journaling is a practice that supports ___ thinking.

60. Define the term entrepreneur:

61. State whether any individual can start a business:

62. Discovering market gaps is driven by ___.

63. Emotional influence can ___ critical judgment.

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

65. Seeking feedback from mentors helps to strengthen ___.

66. Socio-cultural environment recognizes _____.

67. A major challenge of reflective thinking is ___.

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

69. Adjusting easily to change reflects ___.

70. Everett Hagen viewed an entrepreneur as a _____.

71. Learning from past mistakes strengthens ___.

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

73. State the full meaning of the acronym NLBD:

74. Critical, reflective, and creative thinking together enhance ___.

75. Creative thinking involves ___ from conventional patterns.

76. Adding details to refine business ideas demonstrates ___.

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

78. Making sound business decisions relies heavily on ___.

79. Willingness to pursue uncertain opportunities demonstrates ___.

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