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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
Entrepreneurship 121

