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Exercise




                                                       Solved Questions


                                                SECTION A (Objective Type Questions)
                     uiz

              A.  Tick ( ) the correct option.
                 1.  Which of the following is the reason of success of an entrepreneur?
                    a.  Hard work                                      b.  Good money
                    c.  Good degree                                    d.  Use expensive material
                 2.  Which of the following is a place where the production of a product is controlled by the demand and supply of a
                    product?
                    a.  Free market                                    b.  Efficient market
                    c.  New market                                     d.  None of these
                 3.  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.  All of these

                 4.  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 ……….…….................                                                    [NCERT]
                    a.  hardworking                                    b.  confident
                    c.  patient                                        d.  prying new ideas

                 5.  Susheela decides to sell her company tyres in Sri Lanka. It does not sell and she has a loss. She apologises to the people
                    who work for her. She says she will plan better next time. She ……….…….................      [NCERT]
                    a.  takes responsibility for your mistakes         b.  thinks before making a decision
                    c.  does not give up                               d.  is creative
              B.  Fill in the blanks.
                 1.  ……….……................ 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.
                 2.  Entrepreneurs are……….……................, always coming up with new ideas to grow and develop.
                 3.  A doctor who works for a hospital is a  ……….……................ person.
                 4.  Entrepreneurs take risks in terms of ……….……................and ……….…….................

                 5.  Entrepreneurship helps in the ……….……................ growth of the country.
                                                SECTION B (Subjective Type Questions)
              A.  Short answer type questions.
                 1.  What is the difference between wage-employed and self-employed people?
                Ans.   Wage-employed people are people who work for a person or an organisation and get paid for that work. Self-employed
                    people are those who start their businesses and sell their product or services to the customers.
                 2.  Write four qualities of a successful entrepreneur.
                Ans.  Following are the qualities of a successful entrepreneur:
                    ●  They are confident.                             ● They keep trying new ideas in their business.
                    ●  They take responsibility for their actions.         ● They do not give up when they face difficulty.
                 3.  Write four misconceptions about entrepreneurship.
                Ans.  Following are the misconceptions about entrepreneurship:

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