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3.  What is a Corporation? Name a few.
            4.  Give two advantages of Limited Liability Company.
            5.  Define an Asset. Give examples.

            6.   Differentiate between an entrepreneurship and an enterprise.
            7.  What do you mean by perception?
            8.  Why are “Visionary and Leadership qualities” important?
            9.  What do you think is the biggest challenge of an entrepreneur?
          10.  What is the market status of an entrepreneur?
          11.   Susan is an MBA graduate in Sales and Marketing and now wants to start her own business. Her father is a cab driver and
              she neither has money to invest in her business nor wants to take any loan. She wants to go into a service business. Can
              you suggest some service businesses where with less investment she can start her own business?
          12.  What are the key differences between product and service-based businesses?                 [NCERT]
          13.  Amit has opened his own stationery shop and in the initial one year he managed to earn profit.
               a. What type of ownership of the business he possesses? Write its name.
               b. Give its important features.
               c.  What are the social objectives of his business?
          14.   Your cousin is planning to be an entrepreneur but he is in a dilemma whether to take risk or not. How can you help him
              convince to go ahead in living his dream of a successful entrepreneur?
          15.  What is the meaning of manufacturing and trading based business?                           [NCERT]

        B.   Long answer type questions:

            1.   Differentiate between a Partnership and a Corporation.
            2.  Give advantages and disadvantages of Sole Proprietorship.
            3.  Give three important features of a business.
            4.  Write the steps of starting a business.
            5.  What are the National objectives of any business?
            6.   Explain in detail the process of entrepreneurship development.

            7.  What are the core skills of a successful entrepreneur?
            8.  Explain the four elements of entrepreneurship.
            9.  Differentiate between an entrepreneur and a businessman.
          10.  What is the role of entrepreneur in social development?

        C.   Competency-based/Application-based questions:

            1.   State whether the person engaged in the activity mentioned below is an Entrepreneur or an Employee.   [NCERT]
               a. Rahul starts a shop to sell Chaat and special Paani Puri. He is an    .
               b. Shahid becomes the manager of a dealership selling food products. He is an
               c. Ritu leaves the company she worked for and starts catering food for marriage programmes. She is an    .
            2.  State the type of business–product, service or hybrid.                                    [NCERT]
               a. Arun bakery, which makes and sells bread to people.
               b. Ram’s repair shop, which repairs motorcycle.
               c. Hari’s hair-salon, where he cuts hair for women and men.






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