Entrepreneurship Skill -II (PART -I)

What is entrepreneurship?

• A type of wage employment where one works for a company.

• A type of self-employment where one runs a business.

• A way of earning money by investing in stocks.

• A hobby that does not generate income.

Which quality means that an entrepreneur does not give up when they face a difficulty?

• Being patient.

• Not giving up.

• Being confident.

• Working hard.

What is a 'quality' as defined in the sources?

• A theoretical concept.

• A way in which a person acts or behaves.

• A financial asset.

• A type of business idea.

Who are 'wage employed people'?

• People who start their own businesses.

• People who work for a person or an organisation and get paid for that work.

• People who volunteer their time without pay.

• People who invest their money in other businesses.

What is the purpose of entrepreneurs creating new methods, ideas, or products?

• To avoid competition.

• To increase income.

• To reduce working hours.

• To limit growth.

When entrepreneurs grow their business, what do they usually gain more of?

• Debt.

• Money.

• Competition.

• Leisure time.

What is the main benefit for society when entrepreneurs make products at a low cost using local materials?

• Products become more expensive.

• Products become more affordable for people.

• It creates more waste.

• It reduces demand.

What is the final stage of an entrepreneurial career process mentioned in the sources?

• Enter.

• Survive.

• Grow.

• Start.

According to the text, what do entrepreneurs contribute to by sharing wealth?

• Only personal savings.

• Building schools and hospitals.

• Increasing inflation.

• Reducing employment.

What is 'wage employment' according to the sources?

• A type of self-employment where one runs a business.

• Working for a person or an organisation and getting paid for that work.

• Starting a business with minimal capital.

• Constantly trying new ideas in one's own business.