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Solved Exercise


                                                              Section A
                                                      (Objective Type Questions)

              A.  Multiple choice questions:

                  1.   An individual who is determined to be self-employed and starts his/her own venture with a sense of
                     ownership is called a/an ................................... .
                     i.  entrepreneur                                       ii.  businessman

                     iii.  tycoon                                           iv.  None of these
                  2.  Business is a (an) ................................... activity.
                     i.  social                                             ii.  economic
                     iii.  hazardous                                        iv.  selling
                  3.  What is the aim of entrepreneurship?
                       i.  Earn a profit                                    ii.  Solve customers  needs innovatively
                     iii.  Both i and ii                                    iv.  None of these
                  4.  Based on the types of work, a business cannot be classified as:
                     i.  hybrid                                             ii.  service

                     iii.  manufacturing                                    iv.  cooperative
                  5.  Which of the following is a characteristic of an entrepreneur?
                     i.  Clarity                                            ii.  Hardworking
                     iii  Courageous                                        iv.  All of these
                  6.  Which of the following businesses is a member-owned business structure and usually allows a limited
                     distribution of profits to members
                       i.  Partnership                                      ii.  Cooperative
                       iii.  Sole Proprietorship                            iv.   imited  iability Partnership
                  7.  Which of the following is not a limitation of an Entrepreneur?
                     i.  Risks of failure                                   ii.  Competitive threat
                     iii.  Flexible Schedule                                iv.  Multiple jobs

                  Ans.  1. i.              2. ii.              3. iii.             4. iv.             5. iv.
                        6. ii.             7. ii.


              B.  Fill in the blanks.
                  1.  ................................... is working for your own job individually or collectively.
                  2.  The aim of an entrepreneur is to create an ................................... .
                  3.  ................................... is the mix of two or more types of businesses.
                  4.    P stands for ................................... .
                  5.  In companies, the ownership of an entrepreneur is maintained by holding ................................... .

                  Ans.  1 Self-employment                     2. enterprise              3. Hybrid business
                        4.  imited  iability Partnership      5. shares




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