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C. Match the following:
1. Social entrepreneurship a. Risk taking capability
2. Entrepreneur b. Quality of an entrepreneur
3. Welfare of the society c. Myth of an entrepreneurship
4. Innovation d. Work done by an entrepreneur
5. Capital needs to be big e. Bring social development
Ans. 1. e 2. a 3. d 4. b 5. c
D. State whether these statements are true or false:
1. An entrepreneur without a good idea can succeed in business.
2. Entrepreneur is a skill and nobody is born with this as a trait.
3. An entrepreneur is always learning from his experiences.
4. An entrepreneur takes calculated risks.
5. An entrepreneur needs a lot of investment in terms of money.
Ans. 1. False 2. True 3. True 4. True 5. False
SECTION B (Subjective Type Questions)
A. Short answer type questions:
1. What is the difference between wage-employed and self-employed people?
Ans. Wage-employed people are people who work for a person or an organization and get paid for that work. Self-employed
people are those who start their businesses and sell their product or services to the customers.
2. Write four qualities of a successful entrepreneur.
Ans. Following are the qualities of a successful entrepreneur:
● They are confident.
● They keep trying new ideas in their business.
● They take responsibility for their actions.
● They do not give up when they face difficulty.
3. Write four misconceptions about entrepreneurship.
Ans. Following are the qualities of a successful entrepreneur:
● Every business idea needs to be unique or special.
● A person needs a lot of money to start a business.
● A person having a big business is an entrepreneur.
● Entrepreneurs are born, not made.
4. Give few disadvantages of entrepreneurship as a career.
Ans. Some of the disadvantages of entrepreneurship are:
● Risk factors are high.
● Uncertainty of income.
● Long hours of working.
● No guarantee for success.
5. List three important roles played by the society to boost up entrepreneurship.
Ans. Following are the important roles played by the society to boost up entrepreneurship:
● Helps in providing the raw material for the business.
● Provides financial support through loans, shares, debentures etc.
● Provides policies and laws in favour of promoting entrepreneurship.
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