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  Building an Enterprise
                         It has been seen that the entrepreneurs who have worked in a related business usually end up having their
                        own enterprise. Building  an enterprise will  not only be self-development but will  also  contribute to the
                        economic growth of the country.
                       Constant Growth and Development
                         Starting a company forces you to constantly improve your skills from marketing to closing deals. There is
                        always more to learn and apply to your business.
                       A Flexible Schedule
                         As an entrepreneur, you have the opportunity to break out of the 9 to 5 cycle and create your own schedule.
                        Work can be scheduled in the morning, afternoon and evening depending on the convenience.

                   7.  Why is entrepreneurship important?
                 Ans.  Entrepreneurship is very important for the following reasons:
                        It results in the creation of new organisations.
                        It brings creativity into the marketplace.

                        It leads to improved standards of products.
                        It helps develop the economy of a country.
                        It increases employment.
                   8.  Explain the role of an entrepreneur?
                 Ans.  i.  Economic Development: Entrepreneurs create value and circulate money by making available better and
                        cheaper products and services for customers. This helps in economic growth. When entrepreneurs grow and
                        expand their businesses, investors invest their money in their businesses and expect good returns.
                      ii.  Social Development: Business starts from a very low scale but expands and grows. It requires more people
                        to work. Growing business lets people earn accordingly, consequently, the creation of jobs leads to a good
                        living and social development ultimately.
                       iii.  Optimal  Use of Resources:  Entrepreneurs  apply  ways  to  find  the  most  optimal  ways  of  utilizing  both
                        renewable and non-renewable resources to reduce costs of raw materials and services and increase their
                        profits

              B. Application based questions:                                                           L if e Sk il l s  &  V a l ues

                   1. Amit has opened his own stationery shop and in the initial one year, he managed to earn profit. What type of
                      ownership of the business does he possess? Write its name.
                 Ans.  Sole Proprietorship                                                              C ritica l  T hink ing
                   2.  Read the following statement and write “Yes” or “No” as to whether the person is an entrepreneur or not.
                                                                                                       [CBSE Handbook]

                                                                Statement                                    Yes/No
                       i.      Ravi made tea for his friends in the office. Everyone liked the tea very much and told
                               him that he is very good at making tea.

                       ii.     Savita, a housewife, needs extra money for her kids’ tuition. She notices that in the
                               afternoon, the children coming out of a nearby college look tired and hungry. She
                               makes refreshing Neembu Pani and samosas and sells them to the students.






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