Kerala Plus Two Business Studies Chapter Wise Previous Questions Chapter 13 Entrepreneurial Development
Plus Two Business Studies Business Entrepreneurial Development 3 Marks Important Questions
Question 1.
List out the important characteristics of entrepreneurship. [March – 2016]
Answer:
Characteristics of Entrepreneurship
- It is a systematic and purposeful activity.
- The object of entrepreneurship is a lawful business.
- Entrepreneurship is a creative and innovative response to the environment and an ability to recognize, initiate and exploit an economic opportunity.
Question 2.
“An entrepreneur is not only the composer of the musical score and the conductor of the orchestra but also a one-man band.” In light of the above statement, explain the role of entrepreneurs in relation to an enterprise. [May – 2016]
Answer:
Role of Entrepreneurs in Relation to their Enterprise
- Perceiving market opportunities
- Gaining command over scarce resources.
- Marketing of the products and responding to competition.
Question 3.
State the important characteristics of entrepreneurship. [March – 2017]
Answer:
Characteristics of Entrepreneurship
- It is a systematic and purposeful activity.
- The object of entrepreneurship is a lawful business.
- Entrepreneurship is a creative and innovative response to the environment and an ability to recognize, initiate and exploit an economic opportunity.
Question 4.
Naveen wants to establish a business enterprise of his own. Appraise him about the various steps he needs to go through in the process of setting the business. [May – 2017]
Answer:
Process of Setting up a Business Resource mobilization
