Chapter 4: Entrepreneurial Skills II — Online MCQ Test
INFORMATION TECHNOLOGY · Grade 10 · CBSE(NCERT)
Practice Chapter 4: Entrepreneurial Skills II with a free chapter-wise online MCQ test.
This chapter covers: Entrepreneur Entrepreneurship Self Employment Wage Employment Business Ethics Innovation Risk Taking Opportunity Business Planning Customer Satisfaction.
AI-generated questions from basic to board-exam level, with instant results and explanations.
Chapter 4: Entrepreneurial Skills II — Important Questions & Answers
Who is an entrepreneur?
- A. A person who starts and runs a business by taking risk
- B. A person who only works for a fixed monthly salary
- C. A person who avoids all business decisions
- D. A person who only buys goods for personal use
Answer: A. A person who starts and runs a business by taking risk
An entrepreneur identifies an opportunity, starts an enterprise and takes risks to earn profit.
An entrepreneur identifies an opportunity, starts an enterprise and takes risks to earn profit.
Entrepreneurship is best described as the process of:
- A. memorising business terms
- B. creating and running a business enterprise
- C. working only under a supervisor
- D. spending money without planning
Answer: B. creating and running a business enterprise
Entrepreneurship is the process of setting up and managing a business to provide goods or services.
Entrepreneurship is the process of setting up and managing a business to provide goods or services.
Which of the following is an example of self-employment?
- A. A teacher working in a government school
- B. A bank employee receiving salary
- C. A tailor running his own shop
- D. A clerk working in an office
Answer: C. A tailor running his own shop
Self-employment means working for oneself instead of working for an employer. A tailor running his own shop is self-employed.
Self-employment means working for oneself instead of working for an employer. A tailor running his own shop is self-employed.
Which of the following is an example of wage employment?
- A. A shopkeeper running her own store
- B. A software engineer working for a company
- C. A farmer selling crops from his own farm
- D. A person selling handmade products online independently
Answer: B. A software engineer working for a company
Wage employment means working for someone else and receiving wages or salary in return.
Wage employment means working for someone else and receiving wages or salary in return.
Riya notices that students in her area need affordable printed notes. She starts a small printing service. Which entrepreneurial step is shown here?
- A. Ignoring competition
- B. Identifying an opportunity
- C. Avoiding customers
- D. Closing a business
Answer: B. Identifying an opportunity
Riya identified a market need and converted it into a business opportunity.
Riya identified a market need and converted it into a business opportunity.
Which of the following is NOT a characteristic of a successful entrepreneur?
- A. Hard work
- B. Creativity
- C. Lack of confidence
- D. Decision-making ability
Answer: C. Lack of confidence
A successful entrepreneur needs confidence, creativity and decision-making skills. Lack of confidence is not a desirable trait.
A successful entrepreneur needs confidence, creativity and decision-making skills. Lack of confidence is not a desirable trait.
Amit wants to start a mobile repair shop. Which action should he take first to reduce the chance of failure?
- A. Rent the biggest shop immediately without research
- B. Study customer demand, competitors and costs
- C. Buy expensive furniture before deciding services
- D. Ignore the skills needed for repairs
Answer: B. Study customer demand, competitors and costs
Before starting a business, an entrepreneur should study demand, competition, resources and costs to plan properly.
Before starting a business, an entrepreneur should study demand, competition, resources and costs to plan properly.
Which comparison between self-employment and wage employment is correct?
- A. Self-employment has no risk, while wage employment always has high risk
- B. Self-employed people work for themselves, while wage-employed people work for an employer
- C. Wage employment always means owning a business
- D. Self-employment always gives a fixed monthly salary
Answer: B. Self-employed people work for themselves, while wage-employed people work for an employer
In self-employment, people run their own work or business. In wage employment, people work for others and receive wages or salary.
In self-employment, people run their own work or business. In wage employment, people work for others and receive wages or salary.
A new entrepreneur says, 'I will start production first and think about customers later.' What is the most accurate evaluation of this approach?
- A. It is ideal because customers are not important in business
- B. It is risky because customer needs should be studied before production
- C. It guarantees profit because production is the only business activity
- D. It is ethical because planning is unnecessary for small businesses
Answer: B. It is risky because customer needs should be studied before production
A business should understand customer needs and market demand before producing goods or services to reduce risk.
A business should understand customer needs and market demand before producing goods or services to reduce risk.
Which option is the most complete sequence for starting a small business?
- A. Spend money, select customers, think of idea, ignore feedback
- B. Identify opportunity, prepare plan, arrange resources, start and take feedback
- C. Start selling, hide costs, avoid planning, stop improvement
- D. Copy competitor, avoid risk, ignore customers, expect profit
Answer: B. Identify opportunity, prepare plan, arrange resources, start and take feedback
A systematic approach includes identifying an opportunity, planning, arranging resources, starting the business and improving through feedback.
A systematic approach includes identifying an opportunity, planning, arranging resources, starting the business and improving through feedback.