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They also transport the product from the factory to warehouses. Examples of these businesses include wholesalers,
distributors and retail shops.
8. Explain any three benefits of entrepreneurship.
Ans. The various benefits of entrepreneurship include the following:
• Do what you are interested in: Entrepreneurship helps the entrepreneurs to pursue their passions and interests,
allowing for greater creativity and innovation in their work.
• Work for yourself, and not for others: Entrepreneurship provides the freedom to design work hours, select projects,
and work from any place. Entrepreneurs can decide the kind of work you like to do and how you want to do it.
• Make profits for yourself: As an entrepreneur, one can decide how much money they want to earn and how much
they want to invest in the business. They decide on the salary, wages and incentives of the employees.
C. Competency-based/Application-based questions: #Creativity & Innovativeness
1. Mayank is planning to start his own business of selling readymade garments. Guide him what proper steps he should
follow to start his own business.
HINT: Write all points of "Steps of Starting a Business"
2. Vedika is interested in having her own start-up but she has no funds. She is totally confused between taking up a fixed salary
job or live her dreams of starting her own company. She is your good friend how will you help her in taking a fair decision?
HINT: Benefits of entrepreneurship.
Unsolved Questions
SECTION A (Objective Type Questions)
uiz
A. Tick ( ) the correct option.
1. Which of the following terms describes a type of employment where an employee receives fixed compensation in the
form of wages or salary from an employer?
a. Wage employment b. Entrepreneur
c. Manufacture d. None of these
2. What type of a business is a restaurant that offers services in the form of a dining experience and food served as the product?
a. Hybrid b. Manufacturing
c. Service d. Both b. and c.
3. A Toy Shop is a type of ……….……................ business.
a. Merchandise b. Manufacturing
c. Service d. Hybrid
4. An entrepreneur stays focused on to the solutions rather than problems even when he/she takes a big risk. What
quality is highlighted here?
a. Patience b. Positivity
c. Confidence d. Hardworking
B. Fill in the blanks.
1. Entrepreneur follows ……….……................ procedures.
2. Selling an ice cream is a ……….……................ business.
3. ……….……................ Solutions provides eco-friendly cleaning services to residential and commercial clients.
4. The ……….……................ and ……….……................ of a service can be different at different times.
5. ……….……................ helps you to bring your business straight to potential customers.
Entrepreneurial Skills-I 135

