Entrepreneurial Skills- Class 9

.................................. can be defined as the creation of a new business venture

• Business

• Entrepreneurship

• Both

• None of the above

......................................................................... source product s that can be used as raw materials, with the intention of converting these materials to make an end product

• Manufacturing businesses

• Merchandising Business

• Trade Business

• Service Business

Most businesses performs economic activities such as production, distribution, exchange, expansion etc. with the objective of earning a profit. However some businesses have the sole motive of social welfare.

There are no other businesses which have both the motives – social and economic

• True

• False

There is no guarantee that the amount invested will come with return or the business will earn a specific amount of profit.

• True

• False

......................................... offer value using skills, consultancy, expertise, efficiency etc

• Manufacturing Business

• Merchandising Business

• Trade Business

• Services businesses

......................................................... involves transfer of ownership or tangible products. Most of the times, in these type of businesses, products are bought at a wholesale price and sold at retail price.

• Service Business

• Merchandising businesses

• Both

• None of the above

Challenges of Entrepreneurship Development

• Lack of continued motivation

• Lack of formal education

• Absence of managerial skills

• Lack of finance availability

• All of the above

An ................................. is a person who undertakes risk to start a business of his/her own.

• Wage Employee

• Entrepreneur

• Both

• None of the above

Read the following statement and write “Yes” or “No” as to whether the person is an entrepreneur or not.

Savita, a house wife, needs extra money for her

kids’ tuition. She notices that in the afternoon,

the children coming out of a nearby college

look tired and hungry. She makes refreshing

Neembu Pani and samosas and sells them to

the students.

• Yes

• No

Role of Entrepreneurship involves

• Capital Formation

• Employment Generation

• Value Creation

• Wealth Distribution

• All of the above