Entrepreneurial Skills Class 9

Questions and Answers

Q1. What is Business?

Ans. Business is an economic activity which is related with continuous and regular
production and distribution of goods and services for satisfying human wants.

Q2. What do you mean by term Entrepreneur?

Ans. An entrepreneur is a person who is self-employed, is willing to take a calculated

risk and brings in a new idea to start a business.

Q3. Does all self-employed persons are entrepreneurs?

Ans. No

Q4. What is Entrepreneurship?

Ans. The process of developing a business plan, launching and running a business using
innovation to meet customer needs and to make a profit is entrepreneurship.

Q5. What do you mean by Enterprise?

Ans. An enterprise is a project or undertaking that is bold and fulfills a need of the
society which no one has ever addressed.
Q6. Business is a (an) _________ activity.
(a) Social
(b) Economic
(c) Hazardous
(d) Selling
Ans. Economic

Q7. What is the aim of entrepreneurship?

(a) Earn a profit

(b) Solve customers’ need innovatively
(c) Both of the above
(d) None of the above
Ans. Both of the above

Q8. Read the following statement and write “Yes” or “No” as to whether the person is an
entrepreneur or not.

S.
Statement Yes/No
No.

1 Ravi made tea for his friends in the office. Everyone liked the tea very No
 much and told him that he is very good at making tea.

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
2 Yes
tired and hungry. She makes refreshing Neembu Pani and samosas and
sells them to the students.

Rahul loves dogs. He plays with dogs of his friends’ family. One day
when they were going out-of-station, they asked Rahul to take care of
their dog. Rahul thought that this was a good idea, “taking care of dogs
3 when the owner is traveling”. He started his own company which is like Yes
a “hotel for dogs”. When the dog-owners travel, they leave their dogs at
this hotel and pay the company money for each day they take care of the
dog. Is Rahul an entrepreneur?

Monica noticed that her neighbours used to face a problem. They had to
leave their young baby behind when they went for work. Monica started
4 going to this house in the evening to take care of the baby for them. Her No
neighbours were very happy and used to give her chocolates for doing
that.

Q9. What are the roles of an Entrepreneur?

Ans. The various roles of an entrepreneur are :

1. Allocating the duties of all employees.
2. Creating Jobes.
3. Creating and sharing wealth.
4. Helping people to improve their standard of living.
5. Giving more benefits at lower prices and services at competitive prices.

Q10. Gulab lives in a small village in Rajasthan. She noticed that all the women in her village
were good at making paintings and handicraft product. She collected money and started a
business. Gulab would help the women to get material from cities and support them in
making latest designs. She would then arrange for these paintings and handicraft products to
be sold in big cities. How do you think Gulab, is helping her society as an entrepreneur?

Ans. Gulab is helping her society as an entrepreneur in the following ways :

1. She is helping in the economic growth of the villagers.
2. She is improving their standard of living.
3. She is also creating jobs in the society.

Q11. Kaka is chai wala selling tea near a busy bus stop. He earns a lot and makes a good
profit. Madhav is also running a tea stall on the road side. She decided to sell different
flavours of tea, just like expensive tea parlours in the mall, at a reasonable price. Her clients
vary from daily wage earners to actors and politicians because of her unique idea. Identify the
entrepreneur and traditional business man out of Kaka and Madhav.
Ans. Kaka is a traditional business man and Madhav is an entrepreneur.
Q12. Write any four qualities of an Entrepreneur?

Ans. Four qualities of an entrepreneur are :

1. Have Patience.
2. Positive attitude.
3. Hardworking.
4. Should be confident.

Q13. Identify qualities of the following entrepreneurs. Also write why you think this person
has this quality or the qualities.

(a) Anil wanted to do something very different and something no one has thought of before.
He decided to start a special travel services for old people/ senior citizens.

Ans. Anil shows the following properties :

1. He is open to Trial and Error.
2. He is very creative and innovative.
Anil started a business which no one had done earlier.

(b) Rakesh loves playing outdoors. He used to spend his evenings with his friends, playing
games. But, he had seen that many of his friends didn’t like playing outdoors because they
didn’t feel safe. He decided to open a playground for children of all ages, with proper
security. He found an unused playground, got permission to use it and asked his friends to
help him clean it. He hired a security guard for the playground. He charged a small fee for
people who wanted to play. Both parents and children liked his idea, and started
playing there regularly. His business helped children who would not play outdoor before.

Ans. Rakesh shows the following properties :

1. He was hardworking.
2. He was helpful.
3. He was very creative.
Rakesh had done hardwork in searching an unused playground and also hired a
security guard. He also started earning money for maintenance of the play ground.

(c) Radhika was a cook in a small restaurant in her area. She made enough money to support
her husband and children. She decided to start her own food stall to sell Punjabi food. She
would make special parathas. A few days after starting her business, the police came and told
her that she was not allowed to run her stall in the area. Radhika did not give up. She started a
Tiffin service through which she would deliver fresh food to people.

Ans. Radhika shows the following properties:

1. She was hard working.
2. She is not giving up.
3. She has a positive attitude.
Radhika did not gave up, even when police removed her stall and she came up with a
new idea of tiffin service.
Q14. Write any five characteristics of Entrepreneurship.

Ans. Five characteristics of Entrepreneurship are :

1. Ability to take up risks.
2. Believe in hard work and discipline.
3. Knowledge of the product and services and their need or demand in the
market.
4. Financial literacy and money management skills.
5. Effective planning and execution.

Q15. What do you mean by wage employment?

Ans. In wage employment, there are always two parties, one is known as the employer
and the other is the employee. In wage employment, the employee (generally an
individual) agrees to work for the employer.
Q16. Which of the following is wage employed?

1. A cook in the restaurant.

2. A food stall vendor.

Ans. A cook in the restaurent as he is working for a restaurant and getting a fixed
amount for his work.

Q17. Write any two benifits of entrepreneurship.

Ans. Two benifits of entrepreneurship are : (Write any two)

1. Entrepreneurship allows you to do something you like using your hobbies
and skills.
2. Entrepreneurship allows you to work for yourself and not for someone
else.
3. Entrepreneurship allows you to decide how much risk you want to take.

Q18. Fill in the blanks

State whether the person engaged in the activity mentioned below is an Entrepreneur or an
Employee

(a) Rahul starts a shop to sell Chaat and special Paani Puri. He is an Entrepreneur
(b) Shahid becomes the manager of a dealership selling food products. He is an Employee.
(c) Ritu leaves the company she worked for and starts
catering food for marriage programmes. She is an Entrepreneur.

Q19. List any four characteristics of entrepreneurship.

Ans. Four characteristics of entrepreneurship are :

 1. Ability to take up risks.
2. Believe in hard work and discipline.
3. Knowledge of the product and services and their need or demand in the
market.
4. Financial literacy and money management skills
5. Effective planning and execution.
6.
Q20. List any two characteristics of wage employment.

Ans. Two characteristics of wage employment are :

1. There are always two parties in wage employment.
2. The wage employment does not involve too much risk in comparison to
entrepreneurship.
3.
Q21. Differentiate between wage employment and entrepreneurship.

Ans. Differences are :

Wage Employment Entrepreneurship

1. Follow Instructions. 1. Create their own plans.

2. Have fixed income. 2. Don’t have fixed income.

3. Have limited growth. 3. Have unlimited growth.

Q22. Name any one factor that is common to both entrepreneurship and wage employment on
contract basis.

Ans. Both entrepreneurship and wage employment allows a person to make money.

Q23. Name any three types of business activities.

Ans. Three types of business activities are :

1. Product business
2. Service business
3. Hybrid business

Q24. What is Product business?

Ans. A business where a seller and buyer exchange an item, which can be seen and
touched, is called a product based business. For example, a Sports Shop.

Q25. What is Service business?

Ans. A business where a seller helps the buyer to finish some work. For example, a
cricket coaching center.
Q26. What is Hybrid Business?

Ans. A hybrid is the one where the business is doing both selling product and selling
services. For example, Rahul starting a sports academy for coaching and selling sports
equipment.

Q27. Fill in the blanks

State the type of business—product, service or hybrid

1. Arun bakery, which makes and sells bread to people.

Ans. Product Business

2. Ram’s repair shop, which repairs motorcycle.

Ans. Service Business

3. Hari’s hair-salon, where he cuts hair for women and men.

Ans. Service Business

Q28. What is the difference between Product based business and Service based business?

Ans.
Product Business Service Business

Product can be seen and touched. Service cannot be seen or touched.

Customer pays for physical exchange

Customer here pays for an experience.
of things.

A service, for example, cutting hair,

A product can be made and stored in
cannot be
a shop.
stored.

A service can be made, stored and

A service cannot be made or transported.
transported.

The quality and quantity of a service can

The quality and quantity of the
be
product will be the same every time.
different at different times.

Q29. Classify the following entrepreneur, based on the kind of business (product based or
service based) they do.
 1. Aman – a delivery boy.
2. Akash – a barber.
3. Kamal – a vegetable vendor.
4. Subhash – a cricket coach.
5. Sumitra – selling jewellery.
6. Amit – selling sports equipment
Ans.
1. Aman – Service based business
2. Akash – Service based business
3. Kamal – Product based business.
4. Subhash – Service based business
5. Sumitra – Product based business.
6. Amit – Product based business
Q30. Name two types of Product based businesses.

Ans. Two types of Product based businesses are :

1. Manufacturing businesses
2. Trade businesses

Q31. Write P- Product, S- Service and H- Hybrid for the following businesses.

(a) Ice-cream seller

(b) Restaurant/Cafeteria Owner
(c) Car-driving School owner

Ans.

(a) Ice-cream seller —————————P

(b) Restaurant/Cafeteria Owner ————-H
(c) Car-driving School owner —————-S
Q32. What is the meaning of manufacturing and trading based business?

Ans. Manufacturing businesses : These are the businesses that make a product and sell
it. Products are usually made in factories.
Trade businesses : These businesses buy and sell a product. They also transport the
product from the factory to warehouses and then finally to shops near the customers.
Examples of these business include wholesalers, distributors.
Q33. What is Entrepreneurship development?

Ans. Entrepreneurship development is the process of improving the skills and

knowledge of entrepreneurs.
It can take place through formal and informal learning system.
Q34. Name an Indian Entrepreneur who is the owner of the famous food chain ‘Dosa Plaza’.

Ans. Prem Ganapathy

Q35. Write the steps of starting a business.

Ans. Steps of starting a business :

 [Link] first step is to come up with a business idea.
[Link] money and material.
[Link] customer needs.
[Link] Product/ service.
Entrepreneurial Skills Class 9 Questions and Answers
Q36. Match the following :

Column A Column B

1. Business idea A. Arun goes to the bank to get loan for the shop

2. Get money B. Arun and Shyam are thinking about selling tea in front of their school

3. Customer needs C. Arun and Shyam decide to sell tea along with free biscuits

D. Shyam takes his tea samples to customers to understand their

4. Attract customers
taste preferences