Entrepreneurship - UPSC Prelims Level MCQs

UPSC Prelims Level MCQs on Entrepreneurship General Questions on Entrepreneurship What is the primary characteristic of an entrepreneur? a) Risk Aversion b) Dependence on Government Grants c) Innovation and Risk-taking d) Preferring Job Security Answer: c) Innovation and Risk-taking Which of the following best defines entrepreneurship? a) Owning a business without taking risks b) The process of designing, launching, and running a new business c) Working in a corporate job d) None of the above Answer: b) The process of designing, launching, and running a new business Which of the following is NOT a function of an entrepreneur? a) Innovation b) Risk-taking c) Routine administrative tasks d) Resource allocation Answer: c) Routine administrative tasks Which famous economist defined an entrepreneur as a person who shifts economic resources from an area of lower productivity to an area of higher productivity? a) Adam Smith b) Joseph Schumpeter c) David Ricardo d) Jean-Baptiste Say Answer: d) Jean-Ba…