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9.   Which among the following businesses is involved in developing the raw materials into finished
                       products to meet the needs of its customers?
                        a.  entrepreneurship                           b.  trading
                        c.  manufacturing                              d.  service

                   10.  Independence means the ability to           and the self-confidence to make decisions.
                        a.  work alone                                 b.  work in a team
                        c.  not work at all                            d.  work with a partner

              B.   Fill in the blanks.
                   1.                 helps business owners take the first step to start a new business, and then try new things to grow
                       their business.
                   2.   Another way to grow your business is to provide some        to your customers.

                   3.  In               surveys, you go directly to your customers and talk to them
                   4.                  needs  are  needs  that  people  have  but  are  not  aware  of  or  expect  to  be  addressed  by  a
                       business.

                   5.   A business activity that you can't see, but that benefits the buyer, is called a    .
              C.   State whether the following statement is True or False.
                   1.   Another important reason for having a plan is to set ambitious, yet realistic goals.
                       These goals demotivate the entrepreneur.
                   2.   Every entrepreneur has certain unique qualities that make him successful.

                   3.   Perseverance is a thought process through which an entrepreneur can come up with multiple
                       solutions to improve his business.

                   4.   Open-mindedness means coming up with ideas that others have not thought of before.
                   5.   Knowing your interests and aptitude is certainly important for entrepreneurs.

              D.   Match the following.
                   1.   Scale-up                          a.     Trading Business
                   2.   Business idea                     b.   not giving up
                   3.   Local chemist                     c.    attracting more customers
                   4.   Competitive surveys               d.   solution
                   5.   Perseverance                      e.   observe & ask others


                                                SECTION B (Subjective Type Questions)
              A.   Short answer type questions.
                     1.  What is the importance of business planning?
                   Ans.  Business planning is important to entrepreneurs. The reasons for making a business plan are as follows:
                        a.     Estimate of required funds: Once you know the products and sales destinations, the next steps are to estimate
                             the amount it will take to start a business. Without an estimate of the amount of money, an entrepreneur
                             could make a large investment or start a business without enough money to run the business.
                        b.     Goal  Setting:  Another  important  reason  for  the  plan  is to  set ambitious yet  realistic goals. These  goals
                             motivate entrepreneurs to work hard.





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