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X AI ES CH4 NOTES

The document consists of multiple-choice questions, true/false statements, and subjective questions related to entrepreneurial skills for Class 10 students. It covers topics such as the responsibilities of entrepreneurs, misconceptions about entrepreneurship, and the impact of entrepreneurs on society. Additionally, it emphasizes the importance of decision-making, managing a business, and the role of entrepreneurs in job creation and wealth distribution.

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Laksin VJ
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4 views

X AI ES CH4 NOTES

The document consists of multiple-choice questions, true/false statements, and subjective questions related to entrepreneurial skills for Class 10 students. It covers topics such as the responsibilities of entrepreneurs, misconceptions about entrepreneurship, and the impact of entrepreneurs on society. Additionally, it emphasizes the importance of decision-making, managing a business, and the role of entrepreneurs in job creation and wealth distribution.

Uploaded by

Laksin VJ
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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CLASS 10

ARTIFICIAL INTELLIGENCE
Employability Skills – Unit IV
Entrepreneurial Skills
Multiple Choice Questions and Answers

1. 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) prying new ideas

2. Susheela decides to sell her company tyres in Sri Lanka. It does not sell and she has a
loss. She apologises 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

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B. Tick the correct option for the function that the entrepreneur is doing.

1. Ali has a diamond factory. He pays his employees on the 1st of every month.

(a) Creates a new product


(b) Manages the business
(c) Takes risk

2. Mary buys bulbs for her business from Noida. She learns that bulbs are cheaper in
Faridabad. So, she decides to start buying bulbs from there.

(a) Makes decisions


(b) Divides income
(c) Takes risk

3. Rehnuma has two people who work for her. Every day, she spends one hour with
them to learn about what they’ve done that day.

(a) Creates a new product


(b) Divides income
(c) Manages the business

C. Write against the option, if the business idea is of self-employment or wage


employment.

(a) Cooking in a restaurant Ans. Wage Employment

(b) Owning a clothing business Ans. Self Employment

(c) Having a dosa selling stall Ans. Self Employment

D. WriteTrue or False

1. Entrepreneurs can create jobs in the market. True

2. When many entrepreneurs sell mobile phones in a market, the prices of phones

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increase.
False

3. Entrepreneurs identify a need in the market and build a product or service for
it. True

E. Match each story below with the misconception about


entrepreneurship.

Story Misconception

Ramu owns a large clothes shop. Shamu has a


small store selling handmade sarees. Shamu a) Every business idea needs to
does not call himself an entrepreneur. Ans. (c) be unique or special.

Anna has a great idea for a website. She has


5,000. She is waiting for ` 20,000 more, so that (b) Entrepreneurs are born, not
she can start it. Ans. (d) made.

In a city of thousands of tailoring shops, Gauri is (c) A person needs to have a


a tailor who stitches good quality clothes and has big business to be called an
a very successful business. Ans. (a) entrepreneur.

F. Match the columns

1. Surabhi opens 5 painting stores across India. Ans. (c)


a. Enter
2. There are many coaching classes in Mumbai. Jacob owns one of them.
He is starting morning batches to attract more students to his
classes. Ans. (b)
b. Survive
3. Salma has started her clothing line on the Internet. Ans. (a)
c. Grow

G. Subjective question of Entrepreneurial Skills

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1. 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.

2. What do you think are the important functions of an entrepreneur? Write your answer
giving suitable examples.

Ans. The functions of an entrepreneur are:

Making Decisions: An entrepreneur makes decisions everyday. This includes what to


produce or sell, how much and where to sell.

Managing the Business: An entrepreneur plans the future of his or her business. He/she
arranges for raw material, hires people for work and tells everyone what to do. They also
check if the plan is being followed.

Divide Income: The entrepreneur divides the business money into many groups. He/she
spends money to buy material, pays rent of the building and salaries to people.

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Taking Risk: Risk is the chance of something going wrong. An entrepreneur takes risks
against fires, lost items and theft.

Create a new Method, Idea or Product: An entrepreneur is always trying new things.
He/she does this to increase their importance and income.

3. 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.

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