CBSE Class 11 Entrepreneurship Concept And Functions Worksheet Set 03

ENTREPRENEURSHIP: CONCEPT AND FUNCTIONS

I. MULTIPLE CHOICE QUESTIONS (1 Mark)

1. The first person who introduced the term entrepreneur is:

(a) Adam Smith               (c) Richard Cantillon
(b) Peter F. Drucker          (d) Joseph Schumpter

2. The activities performed by an entrepreneur starting from identification of business opportunities is known as ----------------.

(a) Entrepreneurship        (c) Enterprise
(b) Staffing                     (d) Marketing

3. Innovation, risk taking and organization building are the -------------------- functions of an entrepreneur.

(a) Commercial               (c) Managerial
(b) Promotional               (d) Entrepreneurial

4. The basic managerial function which is related to deciding in advance of future activities in an organization is :

(a) Directing                      (c) Organizing
(b) Co-ordination               (d) Planning

5. The commercial function of an entrepreneur which is concerned with the movement of goods and services from the producer to the consumer is known as----------

(a) Production                   (c) Finance
(b) Marketing                    (d) Personnel

6. Entrepreneurship is needed for

(a) Innovation                  (c) Employment opportunities
(b) Social benefits             (d) All of these

7. One of the advantage of entrepreneurship is:

(a) Incompetent staff           (c) Long work schedule
(b) Freedom of work            (d) Fewer initial benefits

8. An entrepreneur is a person who

(a) Owns his own enterprise      (c) Risk taker of his business activities
(b) Innovator                           (d) All of these

9. Leadership, communication and motivation are part of ------------- function.

(a) Staffing                            (c) Directing
(b) Organising                        (d) Controlling

10. Discovery of idea, investigation, assembling and financing the requirements are---------------- functions.

(a) Entrepreneurial                 (c) Promotional
(b) Managerial                       (d) Commercial

II Answer each of these questions in about fifty words (2/3 Marks)

1 Vinay lives in a village and had always wanted to start a new business. He believed that starting a new business is very easy but was reluctant to start a new enterprise as he was told by his friends that bank do not provide loans for new business enterprise. Name the two myths that Vinay perceives in his thought?

2 Explain any two disadvantages of being an Entrepreneur.

3 Innovation is the hallmark of Entrepreneurship.” Why is ‘innovation’ referred as the basic function of an entrepreneur

4 Differentiate between entrepreneur and entrepreneurship

5 Explain any two advantages of being an Entrepreneur.

III Answer each of these questions in about one hundred and fifty words (4 Marks)

1 Karan wants to start a textile unit near Gurgaon. Discuss the commercial functions which he will require to plan and perform for the same

2 Explain any four managerial functions of an entrepreneur?

3 Explain any four promotional functions of an entrepreneur

4 Why entrepreneurs are called ‘agents of progresses’ for a nation? What role do they play in the nation’s development?

IV Answer each of these questions in about two hundred and fifty words: (6 Marks)

1 Starting a venture is not an easy task. A series of activities need to be planned and undertaken to create an enterprise. Discuss them briefly.

2 Describe entrepreneurial functions of an entrepreneur.

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