cbse class 10 IT Unit-4 Entrepreneur Skills study notes
Unit-4
Entrepreneur Skills
Multiple Choice Questions:
Q1. ______________ is the type of self-employment where one is running a business to satisfy the needs of people and looking for ways to make the business better.
a. Entrepreneurship
b. Entrepreneur
c. Business Idea
d. Entrepreneurist
Ans. a. Entrepreneurship
Q2. Which of the following are the qualities of successful entrepreneurs?
a. They are confident.
b. They take responsibility for their actions.
c. They work hard
d. All of the above
Ans. d. All of the above
Q3. ____________ are people who work for a person or an organization and get paid for that work.
a. Self employed
b. Wage employed
c. Both of the above
d. None of the above
Ans. b. Wage employed
Q4. __________ people are those who start businesses to satisfy the needs of people.
a. Self-employed
b. Wage-employed
c. Both of the above
d. None of the above
Ans. a. Self-employed
Q5. A self employed person who is always trying to make his/her business better by taking risks and trying new ideas is called ______
a. Skilled man
b. Business man
c. Entrepreneur
d. None of the above
Ans. c. Entrepreneur
Q6. Ramya and Ramu both own plant shops. Ramu sits at his shop every day. When customers come, he sells to them. Ramya walks around and gets customers to her shop. She also sells seeds and flowers. Who is Entrepreneur out of Ramya and Ramu.
a. Ramya
b. Ramu
c. Both of the above
d. None of the above
Ans. a. Ramya
Q7. What do entrepreneurs do when they run their business?
a. They help in increasing jobs in their area.
b. Helping the people in the society to earn money.
c. Both of the above
d. None of the above
Ans. c. Both of the above
Q8. Qualities of successful entrepreneurs are.
a. They keep trying new ideas.
b. They are confident.
c. They are creative
d. All of the above
Ans. d. All of the above
Q9. Ravi’s customer comes to his store and starts shouting at him. He does not get angry. He listens to what his customer is saying. He is _____________________
a. Hardworking
b. Confident
c. Patient
d. Trying new ideas
Ans. c. Patient
Q10. Susheela decides to sell her company tyres in Sri Lanka. It does not sell and she has a loss. She apologizes to the people who work for her. She says she will plan better next time. She _______________
a. takes responsibility for your mistakes
b. thinks before making a decision
c. does not give up
d. is creative
Ans. c. does not give up
Q11. Entrepreneurs can create jobs in the market.(T/F)
a. True
b. False
Ans. a. True
Q12. When many entrepreneurs sell mobile phones in a market, the prices of phones increase.(T/F)
a. True
b. False
Ans. b. False
Q13. Entrepreneurs identify a need in the market and build a product or service for it.(T/F)
a. True
b. False
Ans. a. True
Q14. As an entrepreneur, you should be _____
a. Creative
b. Hard Working
c. Decision Maker
d. All of the above
Ans. d. All of the above
Q15. An entrepreneur do the things as ___________
a. others are doing
b. different from others.
c. a lazy person
d. None of the above
Ans. b. different from others.
Q16. The money used to start a business is called _______________
a. Capital
b. Business Money
c. Start ups
d. None of the above
Ans. a. Capital
Q17. Success of entrepreneur depends on ______
a. Hard Work
b. Good Idea
c. Both of the above
d. None of the above
Ans. c. Both of the above
Q18. Which of the following are misconception about Entrepreneur?
a. Entrepreneurs are born, not made.
b. A person having a big business is an entrepreneur.
c. A person needs a lot of money to start a business.
d. All of the above
Ans. d. All of the above
Q19. A doctor who works for a hospital is a _______________ person.
a. Wage employed
b. Self employed
c. Both of the above
d. None of the above
Ans. a. Wage employed
Q20. Dr. Ravi has his own clinic so he is a _________ Person.
a. Self-employed
b. Wage-employed
c. Both of the above
d. None of the above
Ans. a. Self-employed
Q21. Positive impact of entrepreneurship on society is _________.
a. Accentuates economic Growth
b. Encourages welfare of the society
c. Solves the problems of the society
d. All of the above
Ans. d. All of the above
Q22. Society plays a role in boosting entrepreneurship by __________
a. Providing raw materials
b. Creating needs and demands
c. Both of the above
d. None of the above
Ans. c. Both of the above
Q23. Adverse impact of entrepreneurship on society is ________________
a. Environmental degradation
b. Trade imbalance
c. Labour exploitation
d. All of the above
Ans. d. All of the above
Q24. Which of the following social problems are tackled by social entrepreneurs?
a. Low reach of quality education
b. Unemployment
c. Child labour
d. All of the above
Ans. d. All of the above
Q25. Agricultural Entrepreneurship helps farmers in ____
a. finding low-cost innovations in farming processes.
b. giving loans to farmers
c. giving jobs to the family members of farmers.
d. All of the above
Ans. a. finding low-cost innovations in farming processes.
Q26. Which of the following entrepreneurship refers to starting industries in which manufacturing, trading, providing services, productions are done on a micro scale?
a. Women Entrepreneurship
b. Agricultural Entrepreneurship
c. Small Scale Entrepreneurship
d. None of the above
Ans. c. Small Scale Entrepreneurship
Q27. Entrepreneurship skills helps ______
a. to develop ability to handle failure.
b. in making difference to the society.
c. to develop critical thinking
d. All of the above
Ans. d. All of the above
Q28. All businesses are either skyrocket or fail.(T/F)
a. True
b. False
Ans. b. False
Q29. Which of the following are commercial functions of Entrepreneur?
a. Innovation
b. Finance and Accounting
c. Leadership
d. All of the above
Ans. b. Finance and Accounting
Q30. An enterprise owned and controlled by a woman and giving at least 51 per cent of the employment generated in the enterprise to women is _________
a. Agricultural Entrepreneurship
b. Small Scale Entrepreneurship
c. Social Entrepreneurship
d. Women Entrepreneurship
Ans. d. Women Entrepreneurship
Questions and Answers:
Q1. What do you mean by Entrepreneurship?
Ans. Entrepreneurship is the type of self-employment where one is running a business and looking for ways to make the business better to make profits.
Q2. Write four qualities of successful Entrepreneur?
Ans. Four qualities of successful Entrepreneur are :
a) They are confident.
b) They keep trying new ideas in their business.
c) They take responsibility for their actions.
d) They do not give up when they face a difficulty.
Q3. What is the difference between Wage employed and Self employed people?
Ans. Wage employed people are people who work for a person or an organization and get paid for that work. Self-employed people are those who start businesses to satisfy the needs of people.
Q4. What do you mean by Entrepreneur?
Ans. A self employed person who is always trying to make his/her business better by taking risks and trying new ideas is an entrepreneur.
Q5. Ramya and Ramu both own plant shops. Ramu sits at his shop every day. When customers come, he sells to them. Ramya walks around and gets customers to her shop. She also sells seeds and flowers with her plants. Who is Entrepreneur out of Ramya and Ramu and why?
Ans. Ramya is entrepreneur as she is working to grow her business. She has also added a different idea to her business.
Q6. Bharti is a young woman from Bihar. Many girls in her area like to wear earrings. She buys jute from a farmer and makes earrings from that. Her business is called Manavi Natural Handicrafts. She sees that most women in her village do not work. So, she hires two women to help them.
Read the above paragraph and answer the following questions.
1) What demand did Bharti identify in her village?
(a) People in her village wanted Jute
(b) Girls in her area liked to wear earrings
(c) The villagers wanted more water
Ans. (b) Girls in her area liked to wear earrings
2) What is the local resource that Bharti used?
(a) Jute
(b) Water
(c) Sand
Ans. (a) Jute
3) How is Bharti helping her village grow?
(a) By buying jute from the local farmer who can now earn more money
(b) By providing jobs to local women
(c) Both (a) and (b
Ans. (c) Both (a) and (b)
4) How was she creating more jobs?
(a) By selling earrings to women without a job
(b) By buying jute from the local farmer
(c) By providing jobs to local women
Ans. (c) By providing jobs to local women
Q7. Write four functions of an Entrepreneur.
Ans. Four functions of an Entrepreneur are:
1 Making Decisions.
2. Managing the Business.
3. Taking Risk.
4. Create new method, Idea or Product
Q8. Write four Misconceptions about Entrepreneurship.
Ans. Four Misconceptions about Entrepreneurship are :
a) Every business idea needs to be unique or special.
b) A person needs a lot of money to start a business.
c) A person having a big business is an entrepreneur.
d) Entrepreneurs are born, not made.
Q9. Match each story below with the misconception about entrepreneurship.
NOTE : Answers are matched in same color
Story | Misconception |
Ramu owns a large clothes shop. Shamu has a small | (a) Every business idea needs |
Anna has a great idea for a website. She has 5,000. She is | (b) Entrepreneurs are born, |
In a city of thousands of tailoring shops, Gauri is a tailor who | (c) A person needs to have a |
Q10. Write against the option, if the business idea is of self-employment or wage employment.
(a) Cooking in a restaurant | Wage employment |
(b) Owning a clothing business | Self-employment |
(c) Having a dosa selling stall | Self-employment |
(d) Doctor working in Hospital | Wage employment |
(e) Doctor has his/her own clinic | Self-employment |
Q11. Match the condition with entrepreneur Career Process Phase (Enter, Survive, Grow)
NOTE : Answers are matched in same color
1. Surabhi opens 5 painting stores across India | Enter |
2. There are many coaching classes in Mumbai. Jacob owns one of them. | Survive |
3. Salma has started her clothing line on the Internet. | Grow |
Q12. Match the condition with entrepreneur Career Process Phase (Enter, Survive, Grow)
NOTE : Answers are matched in same color
1. After five years, Sanjana has opened a chain of four | Enter |
2. Sanjana is starting a small grocery store in a locality. | Survive |
3. There are many other grocery stores in the area. | Grow |
Q13. Here are some stories of some entrepreneurs. Tick the option for the quality they are showing.
(1) Ravi’s customer comes to his store and starts shouting at him. He does not get angry. He listens to what his customer is saying. He is ______________.
(a) hardworking
(b) confident
(c) patient
(d) trying new ideas
Ans. (c) Patient
(2) Susheela decides to sell her company’s product in Sri Lanka. It does not sell and she has a loss. She apologizes to the people who work for her. She says she will plan better next time. She ___________.
(a) takes responsibility for your mistakes
(b) thinks before making a decision
(c) does not give up
(d) is creative
Ans. (c) does not give up
Q14. Tick the correct option for the function that the entrepreneur is doing.
(1) Ali has a diamond factory. He pays his employees on the 1st of every month.
(a) Creates a new product
(b) Manages the business
(c) Takes risk
Ans. (b) Manages the business
(2) Mary buys bulbs for her business from Noida. She learns that bulbs are cheaper in Faridabad. So, she decides to start buying bulbs from there.
(a) Makes decisions
(b) Divides income
(c) Takes risk
Ans. (a) Makes decisions
(3) Rehnuma has two people who work for her. Every day, she spends one hour with them to learn about what
they’ve done that day.
(a) Creates a new product
(b) Divides income
(c) Manages the business
Ans. (c) Manages the business
Q15. State whether the following statements are True or False
1 Entrepreneurs can create jobs in the market.
Ans. True
2. When many entrepreneurs sell mobile phones in a market, the prices of phones increase.
Ans. False
3. Entrepreneurs identify a need in the market and build a product or service for it.
Ans. True
4. Entrepreneurs who do not have an innovative idea cannot succeed.
Ans. True
5. Entrepreneurs exhibit high risk-taking ability, but they take calculative risks.
Ans. True
6. Nothing matters more than the business idea.
Ans. False
7. Any one can acquire and develop entrepreneurial skills.
Ans. True
8. Entrepreneurship is a process of constant learning.
Ans. True
Ans. True
Q16. Write four positive impact of Entrepreneurship on society.
Ans. Four positive impact of Entrepreneurship on society. (Write any four )
Accentuates economic Growth
Stimulates Innovation and Efficiency
Creates Jobs and Employment Opportunities
Solves the problems of the society
Encourages welfare of the society
Q17. Entrepreneur plays an important role in ____________ of Society
a. making
b. evolving
c. growing
d. None of the above.
Ans. c. growing
Q18. Entrepreneur is/are _________________
a. Risk taker
b. Hard Working
c. Innovative
d. All of the above
Ans. d. All of the above
Q19. Write any two disadvantages of Entrepreneurship as a career.
Ans. Two disadvantages of Entrepreneurship as a career are :
No Fixed income
Problem of generating finance in the beginning of career.
Q20. Entrepreneur is a _________ of growing society.
a. builder
b. destroyer
c. citizen
d. None of the above
Ans. a. builder
Q21. ____________ is not the characteristics of entrepreneur.
a. Hard Work
b. Lazy
c. Decision Maker
d. None of the above
Ans. b. Lazy
Q22. How entrepreneurs help in growing the area and society?
Ans. Entrepreneurs run their businesses in a market. The market has people who buy products and services
and people who sell them also. When people are buying and selling from each other, it is helpful for everyone
because everyone involved makes money. This is how entrepreneurs help in growing the area and society.
Q23. Entrepreneurs also ___________ (increasing / decreasing) jobs in the society.
Ans. increasing
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