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WorksheetsEntrepreneurship Skill -II (PART -I)
Total questions: 30
Worksheet time: 15mins
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.
What is the definition of a 'career' as provided in the sources?
A temporary job someone takes for a short period.
A line of work that a person takes for life.
Any activity that generates income.
A hobby that turns into a business.
Which quality implies that an entrepreneur 'believes in themselves and their abilities'?
Patience.
Creativity.
Confidence.
Hard work.
According to the sources, what do entrepreneurs use to make products at a low cost?
Only imported materials.
Expensive, high-tech machinery.
Material and people available around them.
Government subsidies exclusively.
When more entrepreneurs sell the same product, like mobile phones, what happens to the price of the product according to the sources?
The price goes up due to higher demand.
The price remains the same.
The price goes down due to competition.
The price is set by the government.
Entrepreneurship is being discussed globally, and especially in which specific country according to the introduction?
United States.
China.
India.
United Kingdom.
What is the main objective of the unit, as stated in its introduction?
To teach students how to become millionaires.
To encourage students to learn about entrepreneurship and its functions.
To explain the history of global businesses.
To provide advanced financial management skills.
Which quality is described as thinking differently about business ideas?
Hard work.
Responsibility.
Patience.
Creativity.
What is the primary aim for an entrepreneur who is constantly trying new ideas to make their business better?
To avoid any form of competition.
To increase income.
To reduce their working hours.
To limit the growth of their business.
Which quality involves thinking differently about business ideas?
Patience.
Hard work.
Creativity.
Confidence.
Ramya and Ramu, who run plant shops, are examples of what type of employment?
Wage employment.
Self-employment.
Government employment.
Part-time employment.
If an entrepreneur believes in themselves and their abilities, which quality are they demonstrating?
Patience.
Confidence.
Creativity.
Hard work.
Why is it helpful for everyone when entrepreneurs buy and sell from each other?
It creates monopolies.
It reduces market diversity.
Because everyone involved makes money.
It centralises wealth.
What is the main characteristic of the 'Enter' stage in an entrepreneurial career?
The business is expanding to new cities.
The business is facing high competition.
An entrepreneur is just starting to do business.
The entrepreneur is retiring.
Which function of an entrepreneur includes taking steps to reduce the possibility of loss or damage?
Making Decisions.
Managing Business.
Taking Risk.
Dividing Income.
How does Aditi's store, which sells different types of shampoos and has many customers, help society?
By decreasing local demand.
By helping people in her area to make money and increasing jobs.
By making products more expensive.
By reducing the need for services.
What does 'demand' mean in the context of customer needs?
The amount of product available.
A product or service that people want.
The cost of production.
The profit margin.
What kind of resources do entrepreneurs use to make products at a low cost?
Only financial resources.
Only human resources.
Material and people available around them.
Only technological resources.
Which misconception about entrepreneurship is challenged by the fact that businesses can start small and grow using their profits?
Every business idea needs to be unique.
A person needs a lot of money (capital) to start a business.
Only a person having a big business is an entrepreneur.
Entrepreneurs are born, not made.
What is the role of an entrepreneur in 'Managing Business'?
Only making new products.
Only handling customer complaints.
Arranging financial, material, and human resources and ensuring the business plan is followed.
Only taking all the risks.
In the entrepreneurial career process, what does the 'Enter' stage primarily signify?
The business is stable and expanding to new cities.
The entrepreneur is just starting and entering the market.
The business is facing high competition and struggling to survive.
The entrepreneur is retiring from their business.
