Plus Two Business Studies Chapter 13 Entrepreneurial Development Question and Answers PDF Download: Students of Standard 12 can now download Plus Two Business Studies Chapter 13 Entrepreneurial Development question and answers pdf from the links provided below in this article. Plus Two Business Studies Chapter 13 Entrepreneurial Development Question and Answer pdf will help the students prepare thoroughly for the upcoming Plus Two Business Studies Chapter 13 Entrepreneurial Development exams.
Plus Two Business Studies Chapter 13 Entrepreneurial Development Question and Answers
Plus Two Business Studies Chapter 13 Entrepreneurial Development question and answers consists of questions asked in the previous exams along with the solutions for each question. To help them get a grasp of chapters, frequent practice is vital. Practising these questions and answers regularly will help the reading and writing skills of students. Moreover, they will get an idea on how to answer the questions during examinations. So, let them solve Plus Two Business Studies Chapter 13 Entrepreneurial Development questions and answers to help them secure good marks in class tests and exams.
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Board |
Kerala Board |
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Study Materials |
Question and Answers |
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For Year |
2021 |
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Class |
12 |
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Subject |
Business Studies |
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Chapters |
Business Studies Chapter 13 Entrepreneurial Development |
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Format |
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Provider |
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Plus Two Business Studies Chapter 13 Entrepreneurial Development Question and Answers PDF Download
We have provided below the question and answers of Plus Two Business Studies Chapter 13 Entrepreneurial Development study material which can be downloaded by you for free. These Plus Two Business Studies Chapter 13 Entrepreneurial Development Question and answers will contain important questions and answers and have been designed based on the latest Plus Two Business Studies Chapter 13 Entrepreneurial Development, books and syllabus. You can click on the links below to download the Plus Two Business Studies Chapter 13 Entrepreneurial Development Question and Answers PDF.
Question 1.
The factors which affect the success of an enterprise are called …………….
Answer:
Entrepreneurship values and attitudes.
Question 2.
Activities undertaken by an entrepreneur to bring a business unit into existence are known as ………………
Answer:
Entrepreneurship.
Question 3.
……………… is the reward of the entrepreneur for taking risks.
Answer:
Profit
Question 4.
Choose the right answer from the bracket given below.
(a) Employer
(b) Taking the responsibility of risk
(c) Maximise the wealth
(d) All the above
Answer:
(d) All the above
Question 5.
Entrepreneurship must be encouraged due to …………………..
(a) It helps regional development.
(b) Promote export trade.
(c) Create employment opportunities.
(d) All the above
Answer:
(d) All the above
Question 6.
Entrepreneur + Enterprise = ………………………..
Answer:
Entrepreneurship
Question 7.
The owner of a new enterprise is called?
Answer:
Entrepreneur
Question 8.
KASH means
Answer:
Knowledge + Attitude + Skills + Habits
Question 9.
Match the following.
| A | B |
| a) Entrepreneur | a) Selecting the best project from various projects |
| b) Manager | b) Risk taking |
| c) Zero-in process | c) Profit |
| d) Return for taking risks | d) Not taking the risks |
Answer:
| A | B |
| a) Entrepreneur | a) Risk taking |
| b) Manager | b) Not taking the risks |
| c) Zero-in process Zero-in | c) Selecting the best project from various projects |
| d) Return for taking risks | d) Profit |
Question 10.
Pick out the false statement.
(a) Entrepreneurship is a systematic and purposeful activity.
(b) The object of entrepreneurship is lawful business.
(c) Entrepreneurship involves risk.
(d) Entrepreneurship and management are same.
Answer:
(d)Entrepreneurship and management are same
Plus Two Business Studies Entrepreneurial Development Two Mark Questions and Answers
Question 1.
Complete the steps in setting up of a business.
Answer:
Plus Two Business Studies Entrepreneurial Development Three Mark Questions and Answers
Question 1.
In a classroom discussion Raju stated that “entrepreneur is also a manager. But manager is not an entrepreneur”. Are there any differences between these two?
Answer:
Relationship between Entrepreneurship and Management:
| Entrepreneurship | Management |
| The main motive of an entrepreneur is to start a venture by setting up an enterprise. | The main motive of a manager is to render his services in an enterprise already set up by someone. |
| An entrepreneur is the owner of the enterprise. | A manager is the servant in the enterprise. |
| An entrepreneur assumes all risks and uncertainty. | A manager does not bear any risk involved in the enterprise. |
| An entrepreneur gets profit. | A manager gets salary. |
| An Entrepreneur acts as an innovator. | A manager executes the plans prepared by the entrepreneur. |
| Entrepreneur is self motivated | A manager is motivated by entrepreneur. |
Plus Two Business Studies Entrepreneurial Development Four Mark Questions and Answers
Question 1.
What is entrepreneurial motivation?
Answer:
Entrepreneurial Motivation:
The entrepreneurial motivation may be defined as the process that activates and motivates the entrepreneur to exert higher level of efforts for the achievement of organisational goals.
1. Need for Achievement (N-Ach.):
Need for achievement implies a desire to accomplish something difficult. They are intrinsically motivated. They prefer work that has a moderate chance for success (about 50/50) and tend to avoid situations that are low-risk and those that are high-risk.
2. Need for Power (N-Pow):
Need for Power is the concern for influencing people or the behaviour of others for moving in the chosen direction and attaining the envisioned objectives.
3. Need for Affiliation (N-Aff.):
The need for affiliation is characterised by a desire to belong, and enjoyment of teamwork, a concern about interpersonal relationships, etc.
4. Need for Autonomy (N-Aut.):
The need for autonomy is a desire for independence and being responsible and accountable to oneself rather than some external authority for performance.
Question 14.
The qualities or competencies of an entrepreneur can be written as KASH. What is it?
Answer:
Qualities of an entrepreneur can be summarised as follows:
- K – Knowledge
- A – Attitude
- S – Skills
- H – Habits
Plus Two Business Studies Entrepreneurial Development Five Mark Questions and Answers
Question 1.
Explain the features of Entrepreneurship.
Answer:
Characteristics of Entrepreneurship
- It is a systematic and purposeful activity.
- The object of entrepreneurship is a lawful business.
- Entrepreneurship is a creative response to the environment and the ability to exploit an economic opportunity.
- It is concerned with employing, managing, and developing the factors of production.
- Entrepreneurship involves risk. Profit is the reward of risk-taking.
Question 2.
Distinguish between entrepreneurship and Management.
Answer:
| Entrepreneurship | Management |
| The main motive of an entrepreneur is to start a venture by setting up an enterprise. | The main motive of a manager is to render his services in an enterprise already set up by someone. |
| An entrepreneur is the owner of the enterprise. | A manager is the servant in the enterprise. |
| An entrepreneur assumes all risks and uncertainty. | A manager does not bear any risk involved in the enterprise. |
| An entrepreneur gets profit. | A manager gets salary. |
| An Entrepreneur acts as an innovator. | A manager executes the plans prepared by the entrepreneur. |
| Entrepreneur is self motivated | A manager is motivated by entrepreneur. |
Question 3.
List down the process of setting up of a business.
Answer:
Process of Setting up a Business:
Question 4.
An entrepreneur is a leader, philosopher, planner, etc. He must have several qualities and competencies. List down any five entrepreneurial competencies.
Answer:
Entrepreneurial Competencies:
- He has the ability to take or initiate the first move towards setting up of an enterprise.
- He is always on the look out or searching for opportunity and is ready to exploit it in the best interest of the enterprise.
- Successful entrepreneur finds ways to do things faster with fewer resources at tower costs.
- He belives in systematic planning and its proper execution to reach goals.
- An entrepreneur is never disheartened by failures. He follows try-try again for overcoming the obstacles.
- An entrepreneur is always in search of new ideas from various sources.
- He has the ability to understand and solve business problems.
- He must be optimistic
Plus Two Business Studies Entrepreneurial Development Eight Mark Questions and Answers
Question 1.
An entrepreneur is responsible for doing several functions. What are the functions of an entrepreneur?
Answer:
Role of Entrepreneurs in Relation to their Enterprise
- Perceiving market opportunities
- Gaining command over scarce resources.
- Marketing of the products.
- Face the competition
- Dealing with public bureaucracy (concession, licenses and taxes)
- Managing the human relation within the firm.
- Managing customer and supplier relations.
- Managing finance.
- Acquiring and overseeing assembly of the factory.
- Improve the quality of the products
Question 2.
Write an essay on the role of entrepreneurs in economic development.
Answer:
Functions (Role) of Entrepreneurs in Relation to Economic Development:
1. Contribution to GDP:
Entrepreneurs explore and exploit opportunities, encourage effective resource mobilisation of capital and skill, bring in new products and services and develops markets for growth of the economy. In this way, they help increasing gross national product (GDP) as well as per capita income of the people in a country.
2. Capital Formation:
Entrepreneurs promote capital formation by mobilising the idle savings of public. They employ these resources for setting up an enterprise.
3. Generation of Employment:
With the setting up of more and more business units by entrepreneurs, a large number of employment opportunities are created.
4. Promotes Balanced Regional Development:
Entrepreneurs help to remove regional disparities through setting up of industries in less developed and backward areas.
5. Reduces Concentration of Economic Power:
A large number of entrepreneurs needs to be developed, which will help reduce the concentration of economic power amongst the population.
6. Improvement in the Standard of Living:
Entrepreneurs enables the people to avail better quality goods at lower prices which results in the improvement of their standard of living.
7. Promotes Export Trade:
Entrepreneurs help in promoting a country’s export-trade, which is an important ingredient of economic development.
8. Facilitates Overall Development:
The entrepreneurs multiply their entrepreneurial activities, thus creating an environment of enthusiasm and invite others for overall development of the area.
Plus Two Business Studies All Chapters Question and Answers
- Plus Two Business Studies Chapter Wise Question and Answers PDF
- Plus Two Business Studies Chapter 1 Nature and Significance of Management Chapter Wise Question and Answers PDF
- Plus Two Business Studies Chapter 2 Principles of Management Chapter Wise Question and Answers PDF
- Plus Two Business Studies Chapter 3 Business Environment Chapter Wise Question and Answers PDF
- Plus Two Business Studies Chapter 4 Planning Chapter Wise Question and Answers PDF
- Plus Two Business Studies Chapter 5 Organising Chapter Wise Question and Answers PDF
- Plus Two Business Studies Chapter 6 Staffing Chapter Wise Question and Answers PDF
- Plus Two Business Studies Chapter 7 Directing Chapter Wise Question and Answers PDF
- Plus Two Business Studies Chapter 8 Controlling Chapter Wise Question and Answers PDF
- Plus Two Business Studies Chapter 9 Financial Management Chapter Wise Question and Answers PDF
- Plus Two Business Studies Chapter 10 Financial Markets Chapter Wise Question and Answers PDF
- Plus Two Business Studies Chapter 11 Marketing Management Chapter Wise Question and Answers PDF
- Plus Two Business Studies Chapter 12 Consumer Protection Chapter Wise Question and Answers PDF
- Plus Two Business Studies Chapter 13 Entrepreneurial Development Chapter Wise Question and Answers PDF
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The Plus Two Business Studies Chapter 13 Entrepreneurial Development Question and Answers PDF that has been provided above is extremely helpful for all students because of the way it has been drafted. It is designed by teachers who have over 10 years of experience in the field of education. These teachers use the help of all the past years’ question papers to create the perfect Plus Two Business Studies Chapter 13 Entrepreneurial Development Question and Answers PDF.
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