Session 1: What is Entrepreneurship?
Unit 4: Entrepreneurship Skills
Textual Question-Answers
Check Your Progress
A. Multiple choice questions
Read the questions carefully and circle the letter (a), (b), (c) or (d) that best answers the question.
1. Business is a (an) ………………….. activity.
(a) social
(b) economic
(c) hazardous
(d) selling
Ans: (b) economic
2. 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: (c) Both of the above
B. Short answer question
1. List three businesses seen around you. Share details of what thebusiness does, and how they run it?
Ans: A grocery shop sells daily household items like rice, pulses, andvegetables and runs the business by buying goods from wholesalers and sellingthem to customers.
A tailoring shop stitches and alters clothes and runs the business by takingorders from customers and charging for stitching.
A mobile repair shop repairs mobile phones and accessories and runs thebusiness by providing repair services and selling small mobile parts.
