Advanced level 2025 South West mock entrepreneurship 1
Advanced level 2025 South West mock entrepreneurship 1
| An entrepreneur who starts a business without external funding is utilizing a technique referred to as: A . Networking |
reats 4n<j |
B. Bootstrapping
C. Prospecting
D. Capitalizing
2. The following are the three types of patents:
A. Copyright; intellectual property; plant
B. ISO; descriptive; generic
C. Arbitrary; suggestive; plant
D. Utility; design; plant
a
er t0
3. Innovation can best be defined as:
A. The generation of new ideas
B. The evolution of new ideas
C. The opposite of creativity
D. The successful exploitation of new ideas
4. Which of these actions by entrepreneurs will most
likely result in creative destruction?
A. Developing a new product
B. Taking competitor’s business
C. Issuing shares to individuals and institutions
D. Lowering prices of your product
12. One of the following cannot be protected by
copyright:
A. Music
B. Books
C. Works of Art
D. Ideas or Concepts
13 According to Peter Drucker, it is an opportunity that
occurs when there is a difference between the
perceived expectation of the product and customers
expectation:
A. The unexpected
B. The Incongruities
C. New Knowledge
D. Process needs
5. The primary purpose of a Business Model Canvas is:
A. To create a detailed financial forecast
B. To develop a comprehensive marketing plan
C. To visualize and analyze a business idea
D. To secure funding from investors
14. It is a market where the seller provides goods and
services to people with particular needs:
A. Vertical market
B. Horizontal market
C. Market niche
D. Marketing niche
6. He specializes in funding risky investments from
equity capital with the objective of gaining better
returns:
A. Entrepreneur
B. Businessperson
C. Intrapreneur
D. Venture capitalist 15. Market penetration is:
A. Entering a new market with existing products
B. Developing new products for an existing market
C. Selling existing products to existing customers
D. Acquiring a competitor
7. It is also known as corporate venturing:
A. Intrapreneurship
B. Mergers
C. Entrepreneurship
D. Acquisition 16. What is the main reason for carrying out selfassessment for an aspiring entrepreneur?
A. To determine financial viability
B. To develop a business plan
C. To secure funding
D. To identify strengths and weaknesses
8. What is the purpose of a feasibility study for starting
a new venture?
A. Exploring potential customers
B. Estimating sales
C. To understand if there are any barriers to
D. To know if it is legally feasible
9. He owns more than one business at a time:
A. Portfolio Entrepreneur
B. Serial entrepreneur
C. Corporate Entrepreneur
D. Innovative Entrepreneur
success
17. What is the primary goal of market research?
A. To increase sales
B. To identify and understand customer needs and
wants
C. To develop new products
D. To identify and understand competitors’ strengths
and weaknesses
