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2. Riya’s handmade jewellery gained attention for its craftsmanship and originality, leading to her first order. She
expanded her product line to include customised jewellery for special occasions. What stage of entrepreneurship
is Riya in now?
i. Recognising opportunity ii. Start of a business
iii. Growing the business iv. Market research
3. Which of the following is NOT a common challenge for entrepreneurs?
i. Finding money to start the business ii. Competing with other companies
iii. Sticking to the same old ideas iv. Using resources wisely
4. During a business meeting, Ananya presents her new product idea with great enthusiasm and confidence, even
though it’s a risky venture. Which quality is she demonstrating?
i. Positivity ii. Openness to trial and error
iii. Hard work iv. Confidence
5. Ankur’s business consistently receives negative reviews due to long wait times, poor communication, and
unhelpful staff. What is most likely contributing to the failure of the business?
i. Poor Financial Management ii. Legal and Compliance Issues
iii. Poor Customer Service iv. Inadequate Planning
6. Meera is employed as a full-time teacher in a public school. She works fixed hours, gets a steady paycheck, and
has job security with retirement benefits. Which benefit of wage employment is Meera enjoying?
i. Autonomy and Control ii. Guaranteed financial rewards from high risk
iii. Job Security and Stability iv. Freedom to make business decisions
7. What is the minimum number of members required to make a public company?
i. Seven ii. Eight iii. Five iv. Six
8. What type of firm has a limited life span and must be dissolved when any one of the partners dies or claims
bankruptcy?
i. Limited Liability Partnership ii. Cooperative Business
iii. Partnership iv. Limited Company
9. Jyoti wants to start a bakery but doesn’t know where to begin. After researching successful bakers, she learns
about the importance of having a clear plan and how to market her products effectively. What is Jyoti learning
from studying successful entrepreneurs?
i. How to avoid risks? ii. The importance of planning and marketing
iii. How to start a business without investing any money? iv. How to avoid failure at all costs?
10. How can customer feedback improve your business?
i. By allowing you to expand quickly ii. By identifying areas for product refinement
iii. By reducing the need for investment iv. By focusing solely on profits
B. State whether the following statements are true or false:
1. An enterprise is an organised effort to create or provide something valuable. ...................
2. Successful entrepreneurship is just about profits. ...................
3. Entrepreneurs are open to trying new ideas and learning from mistakes. ...................
4. Entrepreneurs avoid creativity and stick only to traditional methods. ...................
5. Profit is the money left after all costs and expenses are covered. ...................
6. Entrepreneurs manage finances well to keep their business run smoothly. ...................
7. Entrepreneurs are responsible for finding clients. ...................
8. The company employee has a steady job with fixed responsibilities and income. ...................
9. Services generally can be returned or refunded once they are delivered. ...................
10. The quality and quantity of products are generally consistent each time they are produced. ...................
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