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.
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.
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.
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.