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.     plain  hy the follo ing qualities are necessary for an entrepreneur
                i.    illingness to take risks.
                ii.  Ability to make decisions.
            Ans.  i.     Willingness to take risks:  here is an element of risk in any business. It means that it is not required for every firm
                  to make a profit.  his discourages people from taking risks and starting their o n businesses. An entrepreneur, on
                  the other hand, al ays offers to take risks in order to manage a successful firm.
                 ii.  Ability to make decisions:  hile running a business, an entrepreneur must make a variety of decisions. As a
                  result, the individual must be capable of making appropriate and timely decisions.  hings move at a breakneck
                  pace in the modern  orld. If an entrepreneur lacks the ability to make appropriate and timely  udgments, he or she
                  may miss out on an opportunity and incur damages.
           Compet
        C    Competency based Application based  uestions:
                                                 uestions:

                         ased Application b
                                           ased
                   ency b
             hruti runs an online business of selling ladies purses and bags. Initially, she faced a lot of challenges.  he had fe
            resources   only one machine to stitch the bags.  er packaging  ould also get damaged during transportation due to
             hich she suffered losses.  o ever,  hruti did not give up.  he paid e tra attention to packaging so that it  ould not get
            damaged during delivery.  he also started selling various types of bags   handbags, potli bags, sling bags etc.  lo ly she
            turned her company to a big successful venture.   ist ho   hruti built her perseverance.
        Ans.  erseverance can be built in the follo ing  ays
             •  ever giving up  hen faced  ith a difficult situation
             • Working hard to achieve your goal
             •  earning from failures


                                               Unsolved Questions



                                          SECTION A (Objective Type Questions)
              uiz
        A.  Tick ( ) the correct option.
             .                entrepreneurs are those  ho focus on generating solutions that benefit the society.
                a.   ocial                                       b.    omen
                c.  I                                            d.   rofessional

             .    tartups rely on           provided by angel investors or venture capital firms.
                a.  furniture                                    b.  funding
                c.   support                                     d.  capital

             .    o become an entrepreneur, one must have vision,       , and innovativeness.
                a.  originality                                  b.  resourcefulness
                c.  ingenuity                                    d.  creativity
             .    rashant  orks for  urabhi,  ho is a business oman.  rashant is an    .
                a.  entrepreneur                                 b.   age employed person
                c.  skilled  orker                               d.  businessman

             .    he ability to act in a situation before others do is    .
                a.  interpersonal skills                         b.  initiative
                c.  perseverance                                 d.  none of these

        B.  Fill in the blanks.
             .    o establish a successful business, an entrepreneur requires a variety of   .

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