Students can Download Business Studies Chapter 2 Entrepreneurship Questions and Answers, Notes Pdf, KSEEB Solutions for Class 10 Social Science helps you to revise the complete Karnataka State Board Syllabus and to clear all their doubts, score well in final exams.
Karnataka State Syllabus Class 10 Social Science Business Studies Chapter 2 Entrepreneurship
Class 10 Social Science Entrepreneurship Textbook Exercise Questions and Answers
I. Fill In The Blanks With Suitable Answers
Question 1.
The word entrepreneur has come from the french word
Answer:
Entrepreneur
Question 2.
The process of action and entrepreneur undertakes to establish an enterprise is called
Answer:
Entrepreneurship
Question 3.
The person who developed Apollo group of hospitals was
Answer:
Dr. Pratap Reddy
Question 4.
The chair person of Wipro is
Answer:
Ajim Premji
II. Discuss The Following Questions In Group And Then Answer.
Question 1.
Who is an entrepreneur?
Answer:
The entrepreneur is an innovator of new ideas and business processes. He possesses management skills and strong team-building abilities and essential leadership qualities to manage the business.
Question 2.
“Entrepreneurship is a creative activity”. How?
Answer:
Entrepreneurship is a creative activity. It is a process of action of an entrepreneur who undertakes to establish his enterprise. It is a creative activity because it has the ability to create and build something.
Question 3.
What are the characteristics of Entrepreneurship?
Answer:
- Creativity
- Dynamism
- Team building
- Problem Solving
- Risk-taking
- Commitment
- Innovation
- Leadership
- Achievement motivation
- Goal orientation
- Decision making
- Self-confidence
Question 4.
Explain the importance of an Entrepreneur.
Answer:
The role of an entrepreneur is considered very important. The importance of entrepreneurs are:
- Entrepreneurs occupy a central position in the market economy.
- They serve as the ‘spark plug’ in the economy’s engine.
- They work for the economic progress of a nation and spread its activities worldwide.
- They employ their own and borrowed resources for setting up their enterprises.
- Entrepreneur’s energy, creativity, and innovation trigger the production and also of new products and services.
- It is the only entrepreneurs who take, the risk in search of profit and seek opportunities to earn profit and strive hard to satisfy the needs.
Class 10 Social Science Entrepreneurship Additional Questions and Answers
Multiple Choice Questions
Question 1.
It is a very powerful factor in changing the business environment of a country
a) Land
b) Labour
c) Capital
d) Organization
Answer:
d) Organization
Question 2.
Entrepreneurship is a philosophy because
a) It is the way one thinks it can exist in many situations.
b) take calculated risks
c) numerous activities involved in it
d) All the above points
Answer:
a) It is the way on thinks it can exist in many situations.
Question 3.
Entrepreneurs occupy a central position in a
a) Company
b) Economy
c) Market
d) None of these
Answer:
c) Market
Question 4.
Entrepreneur serve as the “Spark plug” in the economy because
a) Activating and stimulating all activities
b) Central position in economy
c) Encourages the entrepreneurial activities
d) None of these
Answer:
a) activating and stimulating all activities
Question 5.
The founder of “Jet Airways” is
a) Dr. Pratap Reddy
b) Naresh Goyal
c) Dhirubhai Ambani
d) Azim Premji
Answer:
b) Naresh Goyal
Question 6.
Entrepreneurship is a creative activity because
a) It is the ability to create and build something
b) Achievement motivation
c) Good orientation
d) Decision making
Answer:
It is the ability to create and build something
Question 7.
As the majority of new business entities are launched with
a) Labour and maximum capital
b) Self – employed
c) Minimum capital
d) Small and medium enterprises
Answer:
Minimum capital
Question 8.
Entrepreneurs is supported by this promotional organization
a) Technical consultancy organization (TCO)
b) Industrial estates
c) Small Scale Industries Board (SSIB)
d) All ‘the above
Answer:
All the above
Three Marks Questions
Question 1.
Write the functions of entrepreneurs.
Answer:
The main functions of an entrepreneur are:
- An entrepreneur starts business activity by preparing various plans relating to business.
- He organizes factors of production
- He takes decisions about product, technology, marketing, employment etc
- He co-ordinates things effectively.
- He introduces new methods into practice.
- He handles the budget of his concern
- He bears risk and uncertainty
- He gives directions to the business firm and ensures its effective operations.
Question 2.
Which are the important financial institutions?
Answer:
- Industrial Development Bank of India
- National Bank for Agriculture and Rural Development
- Export and Import Bank (EXIM BANK)
- Small Industries Development Bank of India
- Industrial Finance Corporation of India ‘
- Industrial Credit and investment corporation of India
- Industrial Reconstruction Bank of India.
- Commercial and other Banks
- State Finance Corporations
- Life Insurance Corporation of India.
- Unit Trust of India.
Question 3.
Which are the Self-Employment opportunities for Entrepreneur?
Answer:
- Advertising agencies
- Marketing consultancy
- Industrial consultancy
- Equipment Rental and Leasing
- Photocopying centres
- Industrial Research and Development
- Industrial Testing Labs
- Internet Browsing
- Installation and operation of cable and T.V. Network
- Creche and Beauty parlors.
Question 4.
Why promotional organisations established? Which are they?
Answer:
Institutions support entrepreneurs in respect of training, financing, and marketing.
- District Industrial centres
- Small Industrial Development Corporation Ltd
- National Small Industries Corporation
- Small Scale Industries Board
- Small Industries Service Institutions
- Industrial Estates
- Khadi and Village Industries Corporation
- Technical Consultancy Organisations.
Question 5.
Mention some successful entrepreneurs?
Answer:
