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Class 09 - Information Technology (402)

Entrepreneurship Skills - I - 01

1. A method for accepting credit card payments is:

a) CIRCLE
b) TRIANGLE
c) None of these
d) SQUARE
2. How an entrepreneur affects economy?
a) All of these
b) Adds new values
c) Efficiency improvements
d) Makes new market
3. Which of the following are commercial functions of Entrepreneur?
a) Leadership
b) All of these
c) Innovation
d) Finance and Accounting
4. ________ are the entrepreneurs who offer a piece of advice and help to customers.
a) Advisors
b) Builders
c) Administrators
d) Communicators
5. A business set up by the communities facing challenges together in developing the business. For example, shops, call
centers, farms, etc. is called:
a) Industrial unit
b) Community business
c) Entrepreneur
d) Business
6. Assertion (A): an entrepreneur has to co-ordinate various factors for the production of goods and services.
Reason (R): innovation means. Doing something new or something different which is a necessary condition to be called
as an entrepreneur.
a) Both A and R are true and R is the correct explanation of A.
b) Both A and R are true but R is not the correct explanation of A.
c) A is true but R is false.
d) A is false but R is true.
7. Assertion (A): A Fabian Entrepreneur is the Entrepreneur who imitates the methods and technologies innovated by
others to begin his own business.
Reason (R): An innovative Entrepreneur is an entrepreneur who regularly intends to bring in new products in the
market, new technologies, etc.
a) Both A and R are true and R is the correct explanation of A.
b) Both A and R are true but R is not the correct explanation of A.
c) A is true but R is false.
d) A is false but R is true.
8. State True or False:

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1. An entrepreneur has to work hard for long hours.
a) True
b) False
2. A successful entrepreneur is always pessimistic and can affected by small day to day problems.
a) True
b) False
3. Entrepreneur can imagine the changes that are likely to take place in the market or technological development.
a) True
b) False
4. Entrepreneur creates organizations.
a) True
b) False
9. Fill in the blanks:
1. There is a ________ relationship between the Entrepreneur and entrepreneurship.
2. New ________ and _______ must be encouraged and introduced in production.
3. ________ describes entrepreneurs as innovators.
4. ________ is a type of business that deals with intangible products, such as accounting, banking, consulting, cleaning,
etc
10. Who is a minor innovator?
11. Write against the option if the business idea is self-employment or wage employment.
i. Cooking in a restaurant
ii. Owning a clothing business
iii. Having a dosa selling stall
12. Why are entrepreneurs considered visionaries and risk-takers?
13. What types of incentives are provided by the Indian govt for entrepreneurs?
14. Who initiated the company MakeMyTrip?
15. Discuss the main disadvantages of entrepreneurship.
16. Which is the most important function of an entrepreneur? Write your answer giving suitable examples.

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Class 09 - Information Technology (402)

Entrepreneurship Skills - I - 01

Solution

1. (d) SQUARE
Explanation: SQUARE
2. (a) All of these
Explanation: All of these
3. (d) Finance and Accounting
Explanation: Finance and Accounting
4. (a) Advisors
Explanation: Advisors
5. (b) Community business
Explanation: Community business
6. (a) Both A and R are true and R is the correct explanation of A.
Explanation: Both A and R are true and R is the correct explanation of A.
7. (d) A is false but R is true.
Explanation: A is false but R is true.
8. State True or False:
1. (a) True
Explanation: True
2. (b) False
Explanation: False
3. (a) True
Explanation: True
4. (a) True
Explanation: True
9. Fill in the blanks:
1. 1. Direct
2. 1. invention, innovation
2. innovation, invention
3. 1. Joseph Schumpter
4. 1. Service business
10. Minor innovator is the entrepreneur who participates in economic growth by efficiently utilizing the existing resources.
11. i. wage employment
ii. self-employment
iii. self-employment
12. Entrepreneurs are considered visionaries and risk-takers because entrepreneurs play an important role in increasing the
quality of living in a community by bringing improvised products and services.
13. The Indian Government has started offering various incentives and concessions, which comprise capital subsidy,
marketing facilities, technical know-how, industrial facilities, etc.
14. Mr. Deep Kalra
15. Following are the main disadvantages of entrepreneurship:
i. No regular salary: Being an entrepreneur means giving up the security of a regular paycheque. If business slows
down, one’s personal income can be at risk.

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ii. No Set Work schedule: The work schedule of an entrepreneur may be unpredictable. A major disadvantage for an
entrepreneur is that it requires more work and longer hours than being an employee.
iii. Administration: While making all the decisions that can be taken as a benefit, it may also be taken as a burden.
Becoming an entrepreneur involves a lot of paperwork that can take up time and energy.
iv. Loneliness: He/she will be lonely and scared to be completely responsible for the success or failure of his/her
business.
v. Competition: Staying competitive in the market is critical as a small business owner. One needs to differentiate their
business from others in order to build a solid customer base and be profitable.
16. The most important functions performed by an entrepreneur are as follows:
i. Managing new venture/the Business: An entrepreneur plans the future of his/her business. He/she make
arrangements for raw material, hires people for work, and tells everyone in the team what to do. He/she also check if
the plan is being followed.
ii. Making Decisions: An entrepreneur makes decisions every day. This includes decisions like what to produce or sell,
how much, and where to sell.
iii. Create a new product/idea/method: An entrepreneur is always trying new things. He/ she does this to increase the
importance of it and income.
iv. Divide Income: The entrepreneur divides the business profit money into various groups. He/she spends money to
buy raw material, pays rent of the building, salaries to people, etc.
v. Taking Risk: Risk is defined as the chance of something going wrong during the process. An entrepreneur takes
risks against theft, fires, lost items, etc.

To practice more questions & prepare well for exams, download myCBSEguide App. It provides complete study material for
CBSE, NCERT, JEE (main), NEET-UG and NDA exams. Teachers can use Examin8 App to create similar papers with their
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