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REVISIT



                      ▶ An entrepreneur is a person who makes his own business in an innovative manner and bears all the risk in the
                     hope of gaining profit and contributing to the economy of the country.
                      ▶ In the market, people buy products and services created by an entrepreneur.
                      ▶ Entrepreneur utilise their creativity to come up with a new business idea that will fulfill the changing demands
                     of the customers.
                      ▶ Entrepreneurs take risks in terms of time and money. They put their dreams into action so they need to be
                     optimistic to see the success of their dreams.
                      ▶ An entrepreneur uses his knowledge, experience, and gather information to convert his dream into an
                     innovative venture.
                      ▶ Entrepreneurs generate employment for both skilled and unskilled labourers by setting up large and small-scale
                     businesses.
                      ▶ An entrepreneur does the maximum utilization of resources for the production and management of his
                     business which plays an important role in the development of any country.
                      ▶ It is not always a new idea that makes you an entrepreneur. You can take an existing idea and make your own
                     business out of it.



                Exercise






                                                                   Solved

                                                   SECTION A (Objective Type Questions)

                 A.  Choose 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 the above

                    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
                  Ans.  1. a  2. a  3. c  4. c  5. a


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