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3.  In which of the following business, service cannot be stored in warehouses or boxes?
                  a. Manufacturer                                     b. Service
                  c. Merchandise                                      d. Trading
               4.  Earning maximum profits with minimum investment is necessary for     of a business.
                  a. Economic Objective                               b. Social Objective
                  c. Sincerity                                        d. Government plan
               5.  In which type of business, owner is liable for business debts and failure?
                  a. Sole proprietorship                              b. Limited Liability Companies
                  c. Company                                          d. Organisation
               6.   The word “entrepreneur” is derived from the ................................ .
                  a. French verb                                      b. Latin verb
                  c. Sanskrit verb                                    d. Arabic verb
               7.  What is the output of the innovative process of setting up a business called?
                  a. Project                                          b. Business
                  c. Enterprise                                       d. Work
               8.  What are the main elements of entrepreneurship?
                  a. Innovation                                       b. Organisation
                  c. Risk Bearing                                     d. All of the above
               9.  What is the process of enhancing knowledge and improving skills of an entrepreneur through structured training and
                  classroom programmes called?
                  a. Entrepreneur                                     b. Entrepreneurship
                  c. Business                                         d. Entrepreneurship Development
              10.  Which of the following is/are characteristic(s) of an entrepreneur?
                  a. Risk Taking Ability                              b. Hard working
                  c. Good communication skills                        d. All of the above
              Ans.  1. d  2. a  3. b  4. a  5. a  6. a  7. c  8. d  9. d  10. d

            B.  Fill in the blanks.

               1.  A              is a state of being busy as an individual or as an organization in a profit earning economic activity.
               2.                businesses provide service by skilled professionals and experts.
               3.                of a business aims at helping in adding to the foreign exchange reserves of the country.
               4.  A  simplest form  of a business  organisation  which  does not require  any  legal formalities  for registration  is called
                                 .
               5.  Planning and finalising a business idea is the    step of starting a business.
               6.  Entrepreneurship should have a strong        of running a business in an innovative manner.
               7.  Doing a business with a new idea is always associated with    .
               8.  Generating a business idea is the        of developing an enterprise.
               9.  An entrepreneur should be           to all circumstances.
              10.  Mobilising the revenue of the country is a/an      development.

              Ans.  1. busines    2. Service    3. National Objective   4. Sole Proprietorship    5. first
                  6. perception   7. risk       8. first step        9. flexible           10. economic







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