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•  He should be innovative at all stages to meet the dynamic needs of the customers and to increase market potential
                of his business.
              •  He should be very calculative while taking risks to avoid any negative impact on his enterprise.
            8.  Explain the important rewards of entrepreneurship.
          Ans.  •   Master of his own time: An entrepreneur decides for himself his hours of work. It is totally his own decision to
                give either maximum hours or only a few hours to his business. He is not stuck trying to manage 9 hours of office
                schedule. He can work for long hours and then can go on a vacation.
              •  Lives his passion: An entrepreneur lives his own dreams. He can pursue what he is passionate about in his life.
              •  His own boss: An entrepreneur creates his own empire, so he is his own boss. He is the leader of his troop and
                master of others who work under him.
              •  Makes profits for himself: An entrepreneur works for himself and his own business, so if he is gaining more profits,
                then he is earning for himself.
                It will be totally his decision where to put the money earned through profit . He can invest more and expand his
              business or save it for his rainy days.


        C.  Competency-based/Application-based questions:
            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: Rewards of entrepreneurship.



                                               Unsolved Questions

                                          SECTION A (Objective Type Questions)
              uiz

        A.  Tick ( ) the correct option.
            1.  What is the minimum number of members required to make a Public company?

              a.  Eight                                          b.  Seven
              c.  Ten                                            d.  Five
            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.  What type of firm has a limited life span and must be dissolved when any one of the partners dies or claims bankruptcy?
              a.  Limited Liability Partnership                  b.  Partnership
              c.  Sole Proprietorship                            d.  Cooperative

            4.  A Toy Shop is a type of ……….……................ business.
              a.  Product                                        b.  Manufacturing
              c.  Both a. and b.                                 d.  Hybrid




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