Entrepreneur Skills Class 10

Entrepreneur Skills Class 10
Q1. ______________ is the type of self-employment where one is running a

business to satisfy the needs of people and looking for ways to make the
business better.
a. Entrepreneurship
b. Entrepreneur
c. Business Idea
d. Entrepreneurist
Ans. a. Entrepreneurship
Q2. Which of the following are the qualities of successful entrepreneurs?
a. They are confident.

b. They take responsibility for their actions.
c. They work hard
d. All of the above
Ans. d. All of the above

Q3. ____________ are people who work for a person or an organization and get
paid for that work.
a. Self employed
b. Wage employed
c. Both of the above
d. None of the above
Ans. b. Wage employed

Q4. __________ people are those who start businesses to satisfy the needs of
people.
a. Self-employed
b. Wage-employed
Ans. a. Self-employed
Q5. A self employed person who is always trying to make his/her business
better by taking risks and trying new ideas is called ______
a. Skilled man
b. Business man
c. Entrepreneur
Ans. c. Entrepreneur
Q6. Ramya and Ramu both own plant shops. Ramu sits at his shop every day.
When customers come, he sells to them. Ramya walks around and gets
customers to her shop. She also sells seeds and flowers. Who is Entrepreneur
out of Ramya and Ramu.
a. Ramya
b. Ramu
Ans. a. Ramya
Q7. What do entrepreneurs do when they run their business?
a. They help in increasing jobs in their area.

b. Helping the people in the society to earn money.
Ans. c. Both of the above

Q8. Qualities of successful entrepreneurs are.
a. They keep trying new ideas.

b. They are confident.
c. They are creative
d. All of the above

Q9. Ravi’s customer comes to his store and starts shouting at him. He does not
get angry. He listens to what his customer is saying. He
is _____________________
a. Hardworking
b. Confident
c. Patient
d. Trying new ideas
Ans. c. Patient
Q10. Susheela decides to sell her company tyres in Sri Lanka. It does not sell
and she has a loss. She apologizes to the people who work for her. She says she
will plan better next time. She _______________
a. takes responsibility for your mistakes
b. thinks before making a decision
c. does not give up
d. is creative
Ans. c. does not give up
Q11. Entrepreneurs can create jobs in the market.(T/F)
a. True
b. False
Ans. a. True
Q12. When many entrepreneurs sell mobile phones in a market, the prices of
phones increase.(T/F)
a. True
b. False
Ans. b. False
Q13. Entrepreneurs identify a need in the market and build a product or service
for it.(T/F)
a. True
b. False
Ans. a. True
Q14. As an entrepreneur, you should be _____
a. Creative
b. Hard Working
c. Decision Maker
d. All of the above

Q15. An entrepreneur do the things as ___________
a. others are doing
b. different from others.
c. a lazy person
Ans. b. different from others.

Q16. The money used to start a business is called _______________
a. Capital
b. Business Money
c. Start ups
Ans. a. Capital
Q17. Success of entrepreneur depends on ______
a. Hard Work
b. Good Idea

Q18. Which of the following are misconception about Entrepreneur?
a. Entrepreneurs are born, not made.

b. A person having a big business is an entrepreneur.
c. A person needs a lot of money to start a business.
d. All of the above

Q19. A doctor who works for a hospital is a _______________ person.
a. Wage employed
b. Self employed
Ans. a. Wage employed

Q20. Dr. Ravi has his own clinic so he is a _________ Person.
a. Self-employed
b. Wage-employed
Ans. a. Self-employed
Q21. Positive impact of entrepreneurship on society is _________
a. Accentuates economic Growth
b. Encourages welfare of the society
c. Solves the problems of the society
d. All of the above

Q22. Society plays a role in boosting entrepreneurship by __________
a. Providing raw materials
b. Creating needs and demands

Q23. Adverse impact of entrepreneurship on society is ________________
a. Environmental degradation
b. Trade imbalance
c. Labour exploitation
d. All of the above

Q24. Which of the following social problems are tackled by social
entrepreneurs?
a. Low reach of quality education

b. Unemployment
c. Child labour
d. All of the above

Q25. Agricultural Entrepreneurship helps farmers in ____
a. finding low-cost innovations in farming processes.
b. giving loans to farmers
c. giving jobs to the family members of farmers.
d. All of the above
Ans. a. finding low-cost innovations in farming processes.

Q26. Which of the following entrepreneurship refers to starting industries in
which manufacturing, trading, providing services, productions are done on a
micro scale?
a. Women Entrepreneurship
b. Agricultural Entrepreneurship
c. Small Scale Entrepreneurship
Ans. c. Small Scale Entrepreneurship

Q27. Entrepreneurship skills helps ______
a. to develop ability to handle failure.
b. in making difference to the society.
c. to develop critical thinking
d. All of the above

Q28. All businesses are either skyrocket or fail.(T/F)
a. True
b. False
Ans. b. False
Q29. Which of the following are commercial functions of Entrepreneur?
a. Innovation
b. Finance and Accounting
c. Leadership
d. All of the above
Ans. b. Finance and Accounting

Q30. An enterprise owned and controlled by a woman and giving at least 51 per
cent of the employment generated in the enterprise to women is _________
a. Agricultural Entrepreneurship
b. Small Scale Entrepreneurship
c. Social Entrepreneurship
d. Women Entrepreneurship
Ans. d. Women Entrepreneurship
Answer the following Questions

1. Describe Entrepreneurship
Entrepreneurship has a fairly wide meaning; it is simply described as starting a
business using the resources available to a person. An entrepreneur combines
factors in a creative manner in order to generate value for customers and create
wealth
2.What are the qualities of an entrepreneur?
Hard work: Without working hard, no entrepreneur can be successful.
Optimism: Positivity and belief in what they do is what takes entrepreneurs far
in their journey. Independence: Entrepreneurs are confident and like the freedom
to take decisions.
Energetic: Drive and energy is always high in successful entrepreneurs which
makes them extremely proactive.
Self-confident: Belief in one’s own vision and abilities and passion for the goal
makes successful entrepreneurs confident.
Perseverant: A way of thinking that helps to accept failure, learn from mistakes,
not give up, continuously experiment etc. is crucial for an entrepreneur
3. Explain the Functions of an Entrepreneur?
Organisation Building and Management: Organisation building is about
bringing together different factors of production and allocating these resources to
bring down costs and losses.
Risk taking: Risk taking is about taking responsibility and planning for a loss or
mishap that may occur in the future due to unforeseen contingencies.
Innovation: Entrepreneurs innovate by introducing new concepts, products,
services, designs, ideas etc.
4. What is the difference between a misconception and reality? Give an
example.
Ans. The difference between misconception and reality are: Misconception: A
myth, or a misconception, is a false belief or opinion about something. For
example, if we think tall people run faster than short people, we have a
misconception. It is not true. The truth is that short people can also run fast.
Reality: Reality means the things which actually exist. It may happen that it
appears or nor. You may have unnoticed it but in actual it exists. In other words,
the reality is all the things which has real existence irrespective of appearance or
not.
5. List the ways in which an entrepreneur affects a society.
Ans. The ways in which an entrepreneur affects a society are:
Fulfil Customer Needs: Entrepreneurs find out what people want. Then, they
use their creativity to come up with a business idea that will meet that demand.
Use Local Materials: Entrepreneurs use the material and people available around
them, to make products at low cost.
Help Society: They make profits through activities that benefit society. Some
entrepreneurs work towards saving the environment, some give money to build
schools and hospitals. This way, the people and area around them becomes better.
Create Jobs: With the growth of a business, entrepreneurs look for more people
to help them. They buy more material, and from more people. The also hire more
people to work for them.
Sharing of Wealth: As entrepreneurs grow their business, the people working
for them and in related businesses also grow.
Lower Price of Products: As more entrepreneurs sell the same product, the price
of the product goes down. For example, when more mobile phones were getting
sold in India, the cost of the phone became lesser.

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Entrepreneur Skills Class 10

Q1. ______________ is the type of self-employment where one is running a

a. They are confident.

Ans. d. All of the above

Ans. b. Wage employed

a. They help in increasing jobs in their area.

Ans. c. Both of the above

a. They keep trying new ideas.

Ans. d. All of the above

Ans. d. All of the above

Ans. b. different from others.

Ans. c. Both of the above

a. Entrepreneurs are born, not made.

Ans. d. All of the above

Ans. a. Wage employed

Ans. d. All of the above

Ans. c. Both of the above

Ans. d. All of the above

a. Low reach of quality education

Ans. d. All of the above

Ans. a. finding low-cost innovations in farming processes.

Ans. c. Small Scale Entrepreneurship

Ans. d. All of the above

Ans. b. Finance and Accounting

Ans. d. Women Entrepreneurship

Answer the following Questions

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