Session 4: Distinguishing Characteristics of Entrepreneurship and Wage Employment
Unit 4: Entrepreneurship Skills
Textual Question-Answers
Check Your Progress
A. Fill in the blanks
1. State whether the person engaged in the activity mentioned belowis an Entrepreneur or an Employee
(a) Rahul starts a shop to sell Chaat and special Paani Puri. He isan ……………….
Ans: He is an ………. Entrepreneur ……….
(b) Shahid becomes the manager of a dealership selling food products. He is an ……………..
Ans: He is an ………. Employee ……….
(c) Ritu leaves the company she worked for and starts catering foodfor marriage programmes. She is an ………………
Ans: She is an ………. Entrepreneur ……….
B. Short answer questions
1. List any four characteristics of entrepreneurship.
Ans:
Risk-taking
Creativity and innovation
Self-confidence
Decision-making ability
2. List any two characteristics of wage employment.
Ans: Fixed salary or wages, Work under an employer
3. Name any one factor that is common to both entrepreneurshipand wage employment on contract basis.
Ans: Both involve earning income through work.
