Entrepreneurship MCQ Question with Answer

Entrepreneurship MCQ with detailed explanation for interview, entrance and competitive exams. Explanation are given for understanding.

Question No : 1
What is the term for a group of individuals who work together to develop and launch a business venture?

Syndicate

Cooperative

Consortium

Team

Question No : 2
What is the term for a legal document that outlines the rights and responsibilities of partners in a business venture?

Business plan

Partnership agreement

Memorandum of understanding (MOU)

Articles of incorporation

Question No : 3
What is the term for a person who provides financial backing for a startup in exchange for ownership equity or debt?

Mentor

Investor

Co-founder

Partner

Question No : 4
What is a unique selling proposition (USP) in marketing?

A strategy for selling products at a higher price

A distinctive feature or benefit that sets a product apart from competitors

The process of selling products to unique customer segments

A pricing strategy for premium products

Question No : 5
What type of innovation involves creating entirely new products or processes that disrupt existing markets?

Incremental

Disruptive

Breakthrough

Radical

Question No : 6
What is the term for the process of seeking and obtaining financial backing for a business venture?

Funding procurement

Capital acquisition

Financing

Fundraising

Question No : 7
What is the term for the process of bringing together people, capital, and resources to start and run a business?

Incubation

Formation

Entrepreneurship

Aggregation