CBSE Class 11 Entrepreneurship Worksheet Set 05 Solved

1. Explain the term “Business” 

2. Name the auxiliaries to trade which removes the hindrances of time and place. 

3. Differentiate between processing and assembling industry with examples. 

4. Explain any three tools of promotion mix. 

5. Explain different market development strategy of intensive expansion. 

6. Mention and explain any four ways of entering foreign market. 

7. Explain the different external environmental forces.

VALUE POINTS 

1. Business is an economic activity which involves production or purchase of goods and services or sale or exchange of goods with an intention to earn profits.

2. Warehouse and transportation.

3. In processing industry the product of one process becomes the raw material of another process until it produces the finished goods.
Eg : Textile industry,
In assembly industry the final product is the outcome of assembling various parts or components together.
Eg : Automobile, Television etc..,

4. Tools of promotion mix are :
1. Personal selling
2. Advertising
3. Publicity
4. Sales promotion
5. Exhibitions
6. Public relations
( Any three points with explanation)

5. Market development strategies are :
1. New demographic market
2. New product use
3. New geographical market
( Above points with explanation)

6. Ways of entering foreign markets are :
1. Indirect Export
2. Direct Export
3. Licensing
4. Contract Manufacturing
5. Joint ventures
6. Direct Investment
( Any four points with explanation)

7. External environmental factors are :
1. Demographic forces
2. Economic factors
3. Technological forces
4. Political forces
5. Natural factors
6. Cultural forces

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