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iii.    Rahul loves dogs. He plays with the dogs of his friends’ family. One day when they
                                  were going out of station, they asked Rahul to take care of their dog. Rahul thought
                                  that this was a good idea, “taking care of dogs when the owner is traveling”. He
                                  started his own company which is like a “hotel for dogs”. When the dog-owners
                                  travel, they leave their dogs at this hotel and pay the company money for each day
                                  they take care of the dog. Is Rahul an entrepreneur?
                          iv.     Monica noticed that her neighbours used to face a problem. They had to leave their
                                  young baby behind when they went to work. Monica started going to their house in
                                  the evening to take care of the baby for them. Her neighbours were very happy and
                                  used to give her chocolates for doing that.

                     Ans.  i. No             ii. Yes             iii. Yes            iv. No



                 Unsolved Exercise



                                                                Section A
                                                        (Objective Type Questions)

                 A.  Multiple choice questions:

                     1.  In business, which of the following along with the profits is equally important
                       i.  Family trips                                       ii.  Child education
                       iii.  Old parents’ medicine                            iv.  Customer satisfaction
                     2.  What is the output of the innovative process of setting up a business called?
                       i.  Project                                            ii.  Business
                       iii.  Enterprise                                       iv.  Work

                     3.  What is the minimum number of members required to make a public company?
                       i.  Eight                                              ii.  Seven
                       iii.  Ten                                              iv.  Five
                     4.  What type of a business is a restaurant that offers services in the form of a dining experience and food served
                       as the product?
                       i.  Hybrid                                             ii.  Manufacturing
                       iii.  Service                                          iv.  Both ii and iii
                     5.  What type of firm has a limited life span and must be dissolved when any one of the partners dies or claims
                       bankruptcy?
                       i.   imited  iability Partnership                      ii.  Partnership
                       iii.  Sole Proprietorship                              iv.  Cooperative
                     6.  A Toy Shop is a type of .................................. business.
                       i.  Product                                            ii.  Manufacturing
                       iii.  Both i and ii                                    iv.  Hybrid

                     7.  Which of the following is/are the main element/elements of entrepreneurship?
                       i.  Innovation                                         ii.  Organisation
                       iii.  Risk Bearing                                     iv.  All of these



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