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3. In which of the following business, service cannot be stored in warehouses or boxes?
a. Manufacturer b. Service
c. Merchandise d. Trading
4. Product business is of two types, one is manufacturing and other involves only buying and selling the product at a slightly
higher price. What is the second type?
a. Hybrid b. Service
c. Primary d. Trading
5. The word "entrepreneur" is derived from the .
a. French verb b. Latin verb
c. Sanskrit verb d. Arabic verb
6. What is the output of the innovative process of setting up a business called?
a. Project b. Business
c. Enterprise d. Work
7. What is the process of enhancing knowledge and improving skills of an entrepreneur through structured training and
classroom programmes called?
a. Entrepreneur b. Entrepreneurship
c. Business d. Entrepreneurship Development
8. Which of the following is/are characteristic(s) of an entrepreneur?
a. Risk Taking Ability b. Hard working
c. Good communication skills d. All of these
Ans. 1. d 2. a 3. b 4. d 5. a 6. c 7. d 8. d
B. Fill in the blanks.
1. A is a state of being busy as an individual or as an organisation in a profit earning economic activity.
2. businesses provide service by skilled professionals and experts.
3. Employees receive a regular and predictable income in the form of .
4. It is important to take from the customers in the long run.
5. Planning and finalising a business idea is the step of starting a business.
6. Entrepreneurship should have a strong of running a business in an innovative manner.
7. Doing a business with a new idea is always associated with .
8. Entrepreneurs need to believe in their abilities and trust in others.
9. An entrepreneur should be to all circumstances.
10. Competition for businessman is and entrepreneur is .
Ans. 1. busines 2. Service 3. wages or salaries 4. feedback 5. first
6. perception 7. risk 8. inspire 9. flexible 10. high, low
C. State whether these statements are true or false.
1. Business is a money-making activity by thinking good thoughts.
2. A businessman should work for his own personal incentives.
3. Planning and finalising a business Idea is a very important step.
4. Entrepreneurs bring economic development through optimal use of resources.
5. An entrepreneur should always be disciplined, dedicated and hard working from a very early stage.
6. There is a regular income for an entrepreneur.
7. Entrepreneur is not a master of his own time.
8. Entrepreneurs cannot gain much profits.
Ans. 1. False 2. False 3. True 4. True 5. True 6. False 7. False 8. False
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