Class 10 Employability Skills
Unit 4 Entrepreneurial Skills II NCERT Book Solution
Session 1: Entrepreneurship and Society
Check Your Progress
A. State whether the following statements are True or False
1. Entrepreneurs can create jobs in the market.
Answer: True
2. When many entrepreneurs sell mobile phones in a market, the prices of phones increase.
Answer: False
3. Entrepreneurs identify a need in the market and build a product or service for it.
Answer: True
B. Subjective question
1. List the ways in which an entrepreneur affects society.
Answer: The ways in which entrepreneur affects society are –
- Fulfill customers’ needs.
- Help Society -Entrepreneurs make profits through activities that benefit society.
- Create Jobs
- Sharing of Wealth
- The lower price of products.
Session 2: Qualities and Functions of an Entrepreneur
Check Your Progress
A. Here are some stories of some entrepreneurs. Tick the option for the quality they are showing.
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
Answer: (c) Patient
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
Answer: (a) takes responsibility for your mistakes.
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
Answer: (b) Manages the business
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
Answer: (a) Makes decisions
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
Answer: (c) Manages the business
B. Subjective questions
1. What do you think is the most important function of an entrepreneur? Write your answer giving suitable examples.
Answer: Most important function 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 to many groups. He/she spends money to buy material, pays rent of the building and salaries to people.
- 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.
Session 3: Myths about Entrepreneurship
Check Your Progress
A. Subjective questions
1. What is the difference between a misconception and reality? Give an example.
Answer: A myth, or a misconception, is a false belief or opinion about something, while a Reality is the true facts 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.
B. Match each story below with the misconception about entrepreneurship.
| Story | Misconception |
| (i) Ramu owns a large clothes shop. Shamu has a small store selling handmade sarees. Shamu does not call himself an entrepreneur. | (a) Every business idea needs to be unique or special |
| (ii) Anna has a great idea for a website. She has `5,000. She is waiting for `20,000 more, so that she can start it. | (b) Entrepreneurs are born, not made |
| (iii) In a city of thousands of tailoring shops, Gauri is a tailor who stitches good quality clothes and has a very successful business. | (c) A person needs to have a big business to be called an entrepreneur. |
Answer: (i) – c ; (ii) – (b) ; (iii) – (a)
Session 4: Entrepreneurship as a Career Option
Check Your Progress
A. Multiple-choice questions
A. Write against the option, if the business idea is of self-employment or wage employment.
(a) Cooking in a restaurant
(b) Owning a clothing business
(c) Having a dosa-selling stall
Answer:
(a) Cooking in a restaurant – wage employment
(b) Owning a clothing business – self employment
(c) Having a dosa selling stall – self employment
B. Match the columns
| Story | Misconception |
| 1. Surabhi opens 5 painting stores across India. | (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. | (b) Survive |
| 3. Salma has started her clothing line on the Internet. | (c) Grow |
Answer:
1. – (c) Grow
2. – (b) Survive
3. – (a) Enter
