CMAT PYQs for Business and Economy with Solutions: Practice CMAT Previous Year Questions

Senior Content Strategist | MBA Professional | Updated 3+ months ago

Business and Economy is an important topic in the Innovation & Entrepreneurship section in CMAT exam. Practising this topic will increase your score overall and make your conceptual grip on CMAT exam stronger.

This article gives you a full set of CMAT PYQs for Business and Economy with explanations for effective preparation. Practice of CMAT Innovation & Entrepreneurship PYQs including Business and Economy questions regularly will improve accuracy, speed, and confidence in the CMAT 2026 exam.

CMAT PYQs for Business and Economy with Solutions

1.
Entrepreneurship can be best described as
- Process that requires setting up a business
- Taking a significant risk in a business context
- Having a strong vision
- A process involving innovation and value creation
View Solution
2.
Which one of the following factors is not relevant for judging the adequacy of market?
- Total Present Domestic Market
- Competitors and their market shares
- Export Market
- Labour Market
View Solution
3.
Ru Pay has been launched by
- National Securities Depository Limited
- National Payments Corporation of India
- Central Depository Services Limited
- Reserve Bank of India
View Solution
4.
Which of the following characteristics belong to the low-end disruptive innovation?
- It makes food products into better products
- It delivers products at lower cost
- It targets non consumption
- It improves profit margins
View Solution
5.
Someone legally appointed to sell off the assets of a bankrupt firm is called
- An Auctioneer
- A Liquidator
- A Terminator
- An advocate
View Solution
6.
_________ entrepreneurs suffer losses, as they refuse to make any modifications in the existing production methods.
- Drone
- Passionate
- Imitative
- Possessive
View Solution
7.
Document that projects the income, expenses, and profits of a business over a multi‐year period
- Technical Plan
- Marketing Plan
- Financial Plan
- Management Plan
View Solution
8.
A professional or manager who takes a new initiative for his/her organisation and establish a new distinct business unit for the same organisation can appropriately be referred as:
- Business Leade
- Industrialist
- Entrepreneur
- Intrapreneur
View Solution
9.
Match List I with List II
List I (Profession) List II (Task‐ Outcome)
(A) Entrepreneur (i) Utility Maximization
(B) Manager (ii) Get the work done
(C) Retailer (iii) Calculated Risk taking
(D) Customer (iv) Value Addition
Choose the correct answer from the options given below:
- (A)‐(iii), (B)‐(ii), (C)‐(iv), (D)‐(i)
- (A)‐(ii), (B)‐(iii), (C)‐(iv), (D)‐(i)
- (A)‐(iv), (B)‐(ii), (C)‐(i), (D)‐(iii)
- (A)‐(iii), (B)‐(ii), (C)‐(i), (D)‐(iv)
View Solution
10.
Given below are two statements:
Statement I : Ideas should not be examined for their real‐life use and application.
Statement II : Business opportunity can be described as an economic idea that can be implemented to create business enterprises and earn profits. In light of the above statements, choose the correct answer from the options given below
- Both Statement I and Statement II are true
- Both Statement I and Statement II are false
- Statement I is true but Statement II is false
- Statement I is false but Statement II is true
View Solution
11.
As business grows, time management continues to be an issue, but the entrepreneur's major concern usually becomes :
- Setting goals
- Finding, retaining, and motivating qualified employees
- Measuring performance
- All of these
View Solution
12.
Founders translate company ideas into business model hypotheses, test assumptions about customers’ needs, and then create a ______________to try out their proposed solution on customers.
- Beta version
- Brand
- Minimum viable
- Service
View Solution
13.
Given below are two statements:
Statement I: Urbanization around the world is an, opportunity to innovate.
Statement II: Urbanization around the world is an issue because of overpopulation.
In the light of the above statements, choose the most appropriate answer from the options given below
- Both Statement I and Statement II are correct
- Both Statement I and Statement II are incorrect
- Statement I is correct but Statement II is incorrect
- Statement I is incorrect but Statement n is correct
View Solution
14.
Given below are two statements :
Statement I : Venture capital firms are usually organized as limited partnerships.
Statement II : Venture capitalist is a money manager who is involved in making risk investments from equity capital with the objective of gaining better returns.
In the light of the above statements, choose the most appropriate answer from the options given below
- Both Statement I and Statement II are correct
- Both Statement I and Statement II are incorrect
- Statement I is correct but Statement II is incorrect
- Statement I is incorrect but Statement II is correct
View Solution
15.
Which type of innovation seeks to make a better product to target the high-end of the market?
- Sustaining innovation
- Low-end disruptive innovation
- New market disruptive innovation
- Quantity based innovation
View Solution

List I (Profession)	List II (Task‐ Outcome)
(A) Entrepreneur	(i) Utility Maximization
(B) Manager	(ii) Get the work done
(C) Retailer	(iii) Calculated Risk taking
(D) Customer	(iv) Value Addition

View more CMAT Questions

SHARE ON FACEBOOK SHARE ON TWITTER

Comments

No Comments To Show

SUBSCRIBE TO OUR NEWS LETTER

COLLEGE NOTIFICATIONS

EXAM NOTIFICATIONS

NEWS UPDATES

Download the Collegedunia app on

CMAT PYQs for Business and Economy with Solutions

1.Entrepreneurship can be best described as

2.Which one of the following factors is not relevant for judging the adequacy of market?

3.Ru Pay has been launched by

4.Which of the following characteristics belong to the low-end disruptive innovation?

5.Someone legally appointed to sell off the assets of a bankrupt firm is called

6. _________ entrepreneurs suffer losses, as they refuse to make any modifications in the existing production methods.

7.Document that projects the income, expenses, and profits of a business over a multi‐year period

8.A professional or manager who takes a new initiative for his/her organisation and establish a new distinct business unit for the same organisation can appropriately be referred as:

9.Match List I with List IIList I (Profession)List II (Task‐ Outcome)(A) Entrepreneur(i) Utility Maximization(B) Manager(ii) Get the work done(C) Retailer(iii) Calculated Risk taking(D) Customer(iv) Value AdditionChoose the correct answer from the options given below:

11.As business grows, time management continues to be an issue, but the entrepreneur's major concern usually becomes :

12.Founders translate company ideas into business model hypotheses, test assumptions about customers’ needs, and then create a ______________to try out their proposed solution on customers.

13.Given below are two statements:Statement I: Urbanization around the world is an, opportunity to innovate.Statement II: Urbanization around the world is an issue because of overpopulation.In the light of the above statements, choose the most appropriate answer from the options given below

15.Which type of innovation seeks to make a better product to target the high-end of the market?

Comments

SUBSCRIBE TO OUR NEWS LETTER

1.
Entrepreneurship can be best described as

2.
Which one of the following factors is not relevant for judging the adequacy of market?

3.
Ru Pay has been launched by

4.
Which of the following characteristics belong to the low-end disruptive innovation?

5.
Someone legally appointed to sell off the assets of a bankrupt firm is called

6.
_________ entrepreneurs suffer losses, as they refuse to make any modifications in the existing production methods.

7.
Document that projects the income, expenses, and profits of a business over a multi‐year period

8.
A professional or manager who takes a new initiative for his/her organisation and establish a new distinct business unit for the same organisation can appropriately be referred as:

9.
Match List I with List II
List I (Profession) List II (Task‐ Outcome)
(A) Entrepreneur (i) Utility Maximization
(B) Manager (ii) Get the work done
(C) Retailer (iii) Calculated Risk taking
(D) Customer (iv) Value Addition
Choose the correct answer from the options given below:

11.
As business grows, time management continues to be an issue, but the entrepreneur's major concern usually becomes :

12.
Founders translate company ideas into business model hypotheses, test assumptions about customers’ needs, and then create a ______________to try out their proposed solution on customers.

13.
Given below are two statements:
Statement I: Urbanization around the world is an, opportunity to innovate.
Statement II: Urbanization around the world is an issue because of overpopulation.
In the light of the above statements, choose the most appropriate answer from the options given below

15.
Which type of innovation seeks to make a better product to target the high-end of the market?