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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
118 Touchpad Information Technology-IX

