CBSE-SOLUTIONS
CLASS-9
PART-A
UNIT-IV ENTREPRENEURIAL SKILL-I
A. Multiple Choice Questions (MCQs)
1. Business is a (an) __________ activity.
(a) Social
(b) Economic
(c) Political
(d) All of the above
Answer: (b) Economic
2. Generally, entrepreneurs fall under:
(a) First category: those who make things happen.
(b) Second category: those who watch things happen.
(c) Third category: those who are left to ask what did happen.
(d) All of the above
Answer: (a) First category: those who make things happen.
3. Innovation involves:
(a) Application of new method of production
(b) Using new sources of raw materials
(c) Exploiting new market
(d) All of the above
Answer: (d) All of the above
4. Which of the following is a function of the entrepreneur?
(a) Innovation
(b) Risk bearing
(c) Organizing and managing functions
(d) All of the above
Answer: (d) All of the above
B. State 'T' for True or 'F' for False
1. Innovation is important function performed by entrepreneur.
Answer: True (T)
2. Identifying and generating the idea/opportunity is an important stage of starting a business.
Answer: True (T)
3. An entrepreneur does not take risk of putting new idea into reality.
Answer: False (F)
4. Success of business depends on decision-making of the entrepreneur.
Answer: True (T)
C. Short Answer Type Questions
1. Define Entrepreneurship.
Answer:
Entrepreneurship is the process of identifying a business opportunity, organizing resources, taking risks, and managing the business to earn profit. A person who undertakes this process is called an entrepreneur.
2. What is Risk Bearing?
Answer:
Risk bearing is the ability of an entrepreneur to face uncertainties and possible losses in business. An entrepreneur takes responsibility for business decisions and accepts the risks involved in starting and running a business.
3. Define Innovation.
Answer:
Innovation means introducing new ideas, products, services, or methods of production. It helps a business improve efficiency, satisfy customers, and gain a competitive advantage in the market.
4. Who are Intrapreneurs?
Answer:
Intrapreneurs are employees within an organization who think and act like entrepreneurs. They develop new ideas, products, or processes to help the organization grow and become more successful.
5. Write two characteristics of an entrepreneur.
Answer:
(i) Risk-taking Ability: An entrepreneur is willing to take calculated risks to start and grow a business.
(ii) Creativity and Innovation: An entrepreneur introduces new ideas and finds innovative solutions to business problems.
6. What is Manpower Planning?
Answer:
Manpower planning is the process of determining the number and type of employees needed in an organization. It ensures that the right people are available at the right time to achieve business goals.
7. Write two entrepreneurial functions of an entrepreneur.
Answer:
(i) Innovation: An entrepreneur introduces new products, services, or production methods to improve business performance.
(ii) Risk Bearing: An entrepreneur assumes responsibility for business risks and uncertainties while making decisions.
8. Write two qualities of a good entrepreneur.
Answer:
(i) Leadership:
A good entrepreneur guides, motivates, and manages employees to achieve organizational objectives.
(ii) Decision-Making Ability:
A good entrepreneur makes timely and effective decisions that contribute to the success of the business.
9. Name three elements of entrepreneurship.
Answer:
(i) Innovation:
Creating and implementing new ideas, products, or methods.
(ii) Risk-Taking:
Accepting uncertainties and challenges involved in business activities.
(iii) Organization and Management:
Planning, coordinating, and managing resources efficiently to achieve business objectives.
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