PracticeVideosBlogFlashcardsEspañol
All Practice Exams

Free Practice Questions for CHSE Odisha Fundamentals of Entrepreneurship

Exam-style questions and explanations by OpenExamPrep.

✓ No registration✓ No credit card
100+ Questions
100% Free

Loading practice questions...

Same family resources

Explore More Odisha CHSE Higher Secondary Elective Subjects

Continue into nearby exams from the same family. Each card keeps practice questions, study guides, flashcards, videos, and articles in one place.

Odisha CHSE Higher Secondary Accountancy — Elective

Practice Questions

Odisha CHSE Higher Secondary Anthropology — Elective

Practice Questions

Odisha CHSE Higher Secondary Banking and Insurance — Elective

Practice Questions

Odisha CHSE Higher Secondary Biology — Elective

Practice Questions

Odisha CHSE Higher Secondary Biotechnology — Elective

Practice Questions

Odisha CHSE Higher Secondary Business Economics — Elective

Practice Questions
Exam Review

Key Facts: CHSE Odisha Fundamentals of Entrepreneurship Exam

Group-II Y1

Fundamentals of Entrepreneurship is Year-1 elective paired with Management Accountancy Year 2

CHSE Odisha Commerce Courses of Studies scheme of studies

100 marks

Year-1 Fundamentals of Entrepreneurship theory paper (elective line 200 across two years)

CHSE Odisha Commerce Courses of Studies

4 units

Entrepreneur; Selection of Enterprise; Institutional Support; Competencies & EDP

CHSE Odisha Commerce Courses of Studies — Fundamentals of Entrepreneurship Paper-1

College Y1

Year-1 written assessment typically at college level under CHSE scheme

CHSE Odisha scheme of studies (first-year college / second-year Council pattern)

In session fee

No separate elective marketplace fee; included in notified higher secondary exam fees

CHSE Odisha fee structure via colleges

CHSE Odisha Fundamentals of Entrepreneurship is the +2 Commerce Group-II Year-1 elective (100 marks; Management Accountancy Y2 pair). College Year-1 assessment applies. This free 2026 bank is an English MCQ study adaptation of traits, MSME, project, finance, institutions, and schemes—not a full official-format simulation.

Sample CHSE Odisha Fundamentals of Entrepreneurship Practice Questions

Try these sample questions to review concepts for the CHSE Odisha Fundamentals of Entrepreneurship exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1In CHSE +2 Fundamentals of Entrepreneurship, an entrepreneur is best described as a person who:
A.Only buys government bonds and never starts a firm
B.Identifies a business opportunity, organises resources, takes calculated risk, and starts or runs an enterprise for profit and growth
C.Only follows fixed instructions as a junior clerk with no risk
D.Only collects taxes for the government
Explanation: An entrepreneur initiates and manages a venture by combining opportunity, resources, and risk-bearing to create value and earn rewards.
2Which set best lists essential qualities (traits) of a successful entrepreneur?
A.Only skill at destroying team morale
B.Initiative, risk-taking ability, innovativeness, leadership, persistence, and self-confidence
C.Only fear of every decision and refusal to learn
D.Only ability to avoid all customers forever
Explanation: Standard +2 entrepreneurship texts emphasise initiative, calculated risk-taking, innovation, leadership, persistence, and confidence as core entrepreneurial traits.
3The 'charms of being an entrepreneur' mainly refer to:
A.Guaranteed zero work and unlimited free government salary forever
B.Freedom from all legal and tax obligations by default
C.A promise that failure is impossible
D.Independence, opportunity for creativity, potential for higher income, social recognition, and self-actualisation
Explanation: Syllabus language on 'charms' of entrepreneurship points to autonomy, creative challenge, economic reward, status, and personal fulfilment—not guaranteed ease or immunity from rules.
4Which of the following is an economic factor affecting entrepreneurial growth?
A.Availability of capital, raw materials, market demand, and infrastructure
B.Only the entrepreneur's personal hobbies with no market link
C.Only the colour of the factory gate paint
D.Only the number of holidays in a personal diary
Explanation: Economic growth factors include capital supply, inputs, demand, and physical infrastructure that enable enterprise formation and expansion.
5A non-economic factor affecting entrepreneurial growth is:
A.Only the bank interest rate with no social context
B.Only international oil futures with no local society
C.Social attitudes toward business risk, education and training levels, and cultural support for enterprise
D.Only the wholesale price of steel in isolation from people and culture
Explanation: Non-economic factors include social norms, education, culture, and values that encourage or discourage people from becoming entrepreneurs.
6Government policy affects entrepreneurial growth primarily by:
A.Replacing all entrepreneurs with robots by law in every sector automatically
B.Making raw materials free for only foreign tourists
C.Shaping incentives, regulation, industrial policy, taxation, and ease of doing business that encourage or constrain new enterprises
D.Eliminating the need for any market demand
Explanation: Unit-I lists government policy among growth factors: subsidies, licensing/regulatory climate, tax treatment, and support schemes influence start-up rates and survival.
7Compared with a pure manager in a large firm, an entrepreneur typically:
A.Bears personal ownership risk and residual profit/loss, while a hired manager mainly executes within given ownership and salary incentives
B.Never makes decisions of any kind
C.Always refuses innovation by definition
D.Is legally barred from using any resources
Explanation: Entrepreneurs combine ownership (or founding) risk with initiative; managers primarily coordinate resources for owners under employment contracts.
8Intrapreneurship refers to:
A.Only government tax collection procedures
B.Only agricultural land surveying methods
C.Entrepreneurial initiative, innovation, and opportunity pursuit by employees inside an existing organisation
D.Only starting a brand-new independent company outside any firm
Explanation: Intrapreneurs act entrepreneurially within corporations—new products, processes, or ventures—while remaining employees of the parent organisation.
9Joseph Schumpeter’s view links entrepreneurship most strongly to:
A.Innovation—introducing new products, methods, markets, sources, or organisational forms that disrupt routine economic life
B.Only mechanical bookkeeping without change
C.Only avoiding all new ideas forever
D.Only copying failed products with no improvement
Explanation: Schumpeterian entrepreneurship centres on creative destruction through innovation that recombines resources and transforms markets.
10According to common Danhof-style classifications used in Indian entrepreneurship texts, a Fabian entrepreneur is one who:
A.Always invents radical products before anyone else
B.Never runs any business activity of any kind
C.Only works as a central bank governor
D.Is cautious and imitative, changing only when survival is threatened, unlike highly innovative pioneers
Explanation: Fabian entrepreneurs are conservative followers who adopt change slowly; innovating entrepreneurs lead change, while drone types resist change even at risk of loss.

About the CHSE Odisha Fundamentals of Entrepreneurship Exam

Odisha CHSE Higher Secondary Fundamentals of Entrepreneurship is the Year-1 elective in Commerce Group-II (paired with Fundamentals of Management Accountancy in Year 2). Official course inputs cover entrepreneur meaning, qualities, and growth factors; micro/small/medium/large enterprises and opportunity/selection/setup; institutional support from national and Odisha bodies; and entrepreneurial competencies with EDPs. This free 2026 practice bank is an English MCQ study adaptation of those units plus project, financing, and commonly taught government-scheme concepts—not an official pure-MCQ paper replica.

Exam sponsor: Council of Higher Secondary Education, Odisha (CHSE Odisha). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

CHSE Odisha Commerce Group-II pairs Fundamentals of Entrepreneurship (Year 1, 100 marks, college-level) with Fundamentals of Management Accountancy (Year 2, 100 marks, Council AHSE). Electives carry 200 marks across two years (100+100). Official Unit-I–IV course inputs cover entrepreneur concepts/traits and growth factors; enterprise types (MSME) and selection/opportunity/setup steps; institutional support (SIDBI, SIDO, SISI, NSIC, FIEO, SFCs, IPICOL, APICOL, IDCO, DIC); and entrepreneurial competencies/EDPs. This bank also drills project-report, financing, and widely taught central scheme concepts (PMEGP, MUDRA, Stand-Up India, Startup India) used with the syllabus. It is not a full simulation of official long-answer papers.

Time Limit

3 hours (per 100-mark Year-1 paper)

Passing Score

~30% minimum in theory (confirm current circular)

Exam / Certification Fees

Included in the CHSE Odisha higher secondary examination fee for the session (collected through the affiliated college/H.S. school; AHSE 2026 form-fill-up package commonly cited around ₹600 total sub-heads for Council year; Year-1 college exam fees follow circulars; no separate public per-elective marketplace fee).

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

~25% of this local bank

Entrepreneur Concepts & Traits

Meaning, charms, essential qualities, growth factors (economic, non-economic, policy), types, motivation, ethics.

~20% of this local bank

MSME & Enterprise Selection

Micro/small/medium/large criteria, benefits/problems, opportunity ID, feasibility, ownership forms.

~15% of this local bank

Project & Setting Up

Setup steps, project report, cost/means of finance, BEP, location, trial production, legal checks.

~20% of this local bank

Financing & Institutions

Own/borrowed funds, WC, SIDBI/NSIC/SFC/FIEO, IPICOL/APICOL/IDCO, DIC.

~20% of this local bank

Competencies, EDP & Schemes

Competencies, EDP aims, PMEGP, MUDRA tiers, Stand-Up India, Startup India, guarantees, incubators.

Preparing for the CHSE Odisha Fundamentals of Entrepreneurship Exam

What You Need to Know

  • Passing score: ~30% minimum in theory (confirm current circular)
  • Assessment: CHSE Odisha Commerce Group-II pairs Fundamentals of Entrepreneurship (Year 1, 100 marks, college-level) with Fundamentals of Management Accountancy (Year 2, 100 marks, Council AHSE). Electives carry 200 marks across two years (100+100). Official Unit-I–IV course inputs cover entrepreneur concepts/traits and growth factors; enterprise types (MSME) and selection/opportunity/setup steps; institutional support (SIDBI, SIDO, SISI, NSIC, FIEO, SFCs, IPICOL, APICOL, IDCO, DIC); and entrepreneurial competencies/EDPs. This bank also drills project-report, financing, and widely taught central scheme concepts (PMEGP, MUDRA, Stand-Up India, Startup India) used with the syllabus. It is not a full simulation of official long-answer papers.
  • Time limit: 3 hours (per 100-mark Year-1 paper)
  • Exam / certification fees: Included in the CHSE Odisha higher secondary examination fee for the session (collected through the affiliated college/H.S. school; AHSE 2026 form-fill-up package commonly cited around ₹600 total sub-heads for Council year; Year-1 college exam fees follow circulars; no separate public per-elective marketplace fee). Official sources

Using Our Practice Resources

  • Work through all 100 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

CHSE Odisha Fundamentals of Entrepreneurship: Suggested Study Strategy

1Memorise essential entrepreneurial traits and the economic vs non-economic vs policy growth factors.
2Drill 2020 composite MSME ceilings: Micro ₹1 Cr/₹5 Cr; Small ₹10 Cr/₹50 Cr; Medium ₹50 Cr/₹250 Cr.
3Practise project-report heads: market, technical plan, cost of project, means of finance, profitability, risks.
4Know BEP units = Fixed Cost ÷ Contribution per unit; separate fixed capital from working capital.
5Map institutions: SIDBI (MSME apex finance), NSIC (marketing/support), SFCs (state term finance), DIC (district facilitation), IPICOL/APICOL/IDCO (Odisha).
6Learn MUDRA tiers (Shishu/Kishor/Tarun), PMEGP’s self-employment thrust, and Stand-Up India / Startup India aims.
7Use the Commerce Courses of Studies PDF and current circulars on chseodisha.nic.in.

Frequently Asked Questions

How is CHSE Odisha Fundamentals of Entrepreneurship examined?

It is the Year-1 paper in Commerce Group-II (100 marks), paired with Fundamentals of Management Accountancy in Year 2 (100 marks). Year-1 written assessment is typically conducted at college level under the CHSE scheme; Year-2 Council AHSE covers the group’s second paper. Papers are usually about 3 hours and mix objective and written items—not a pure MCQ board paper.

What does the official commerce syllabus cover?

Unit-I Entrepreneur (meaning, charms, qualities, growth factors, types); Unit-II Selection of Enterprise (MSME/large types, benefits/problems, opportunity identification, setup steps); Unit-III Institutional Support (SIDBI, SIDO, SISI, NSIC, FIEO, SFCs, IPICOL, APICOL, IDCO, DIC); Unit-IV Developing Entrepreneurial Competencies and EDPs.

What topics does this practice bank emphasise?

Entrepreneur traits and growth factors; MSME classification and enterprise selection; project report and setup; financing and Odisha/national institutions; competencies, EDPs, and widely taught schemes such as PMEGP, MUDRA, Stand-Up India, and Startup India—framed as an English MCQ study aid.

Is this practice bank the same format as the official CHSE/college paper?

No. Official papers mix objective and constructed-response entrepreneurship analysis. This bank is an English-language multiple-choice study adaptation for concept revision—not an official blueprint replica or full long-answer simulation.

What is the pass mark?

CHSE Odisha practice commonly requires about 30% as the minimum pass floor in theory (for example, 24 out of 80 where theory is 80 with internal assessment). Confirm the current Year-1 college and AHSE notifications on chseodisha.nic.in.

What does the exam cost?

Examination charges are included in the higher secondary fee structure notified for the session and collected through the affiliated college/H.S. school. For AHSE 2026, Council form-fill-up fees are commonly cited around ₹600 per candidate for all sub-heads together; Year-1 college exam fees follow circulars—no separate public per-elective marketplace fee.