Entrepreneurial Skills Class 10 Questions and Answers

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Entrepreneurial Skills Class 10 Important Questions

Class 10 AI Entrepreneurial Skills Important Questions

Important Questions of Entrepreneurial Skills Class 10 – Class 10 Entrepreneurial Skills Important Questions

State whether the following statements are True or False

Question 1.
Entrepreneurs can create jobs in the market.
True

Question 2.
When many entrepreneurs sell mobile phones in a market, the prices of phones increase.
False

Question 3.
Entrepreneurs identify a need in the market and build a product or service for it.
True

Entrepreneurial Skills Class 10 Subjective Questions

Question 1.
List the ways in which an entrepreneur affects a society.
Answer:
Here are various ways in which an entrepreneur affects society in short

1. Job Creation Entrepreneurs create job opportunities, reducing unemployment and stimulating economic growth.
2. Innovation Entrepreneurs drive innovation by developing new products, services, and technologies that improve quality of life.
3. Wealth Creation Entrepreneurs generate wealth through business ventures, contributing to economic prosperity.
4. Social Impact Entrepreneurs address societal challenges by offering solutions to pressing issues and promoting social change.
5. Community Development Entrepreneurs invest in local communities, supporting infrastructure, education, and public services.
6. Inspiration Entrepreneurs inspire others to pursue their dreams, fostering a culture of ambition and creativity.

Question 2.
What is the difference between a misconception and reality? Give an example.
Answer:
A misconception is a belief or idea that is incorrect or based on false information, while reality refers to the actual state of things as they exist.
For example:
Misconception “Cracking your knuckles causes arthritis.”
Reality Scientific research has shown that cracking knuckles does not increase the risk of arthritis.

Entrepreneurial Skills Class 10 Very Short Answer Type Questions

Question 1.
Define an entrepreneur.
Answer:
An entrepreneur is someone who perceives opportunity, organises resources needed for exploiting that opportunity and exploits it.

Question 2.
Give any one quality of a successful entrepreneur.
Answer:
Leadership is one quality of an entrepreneur. An entrepreneur is essentially a leader. They have to lead a team for achievement of goals.

Question 3.
Name the term used for a false belief or opinion about something.
Answer:
Myth is the term used for a false belief or opinion about something.

Question 4.
How decision-making is an important function of an entrepreneur?
Answer:
Decision-making is an important function because it includes stabilising organisation’s aims and objectives and changes them according to the changing conditions.

Question 5.
How an entrepreneur acts as a visionary leader? Competency Based Ques.
Answer:
Entrepreneur acts as a visionary leader as he is able to recognise profitable opportunities and successfully conceptualise strategies according to it.

Question 6.
What is the contribution of the entrepreneurs in the execution of Government policies?
Answer:
The entrepreneurs provide an important contribution in implementing government policies and achieving the national goals.

Question 7.
Write any two qualities for being a good entrepreneur.
Answer:

• They are confident. They believe in themselves and their abilities.
• They keep trying new ideas in their business.

Question 8.
Entrepreneurship has a positive impact on society. Write down any two.
Answer:

1. Some of them work towards saving the environment.
2. Some of them give money to build schools and hospitals.

Question 9.
“To get success, every business idea needs to be unique or special”.
Is the above statement a myth or fact?
Answer:
Myth

Entrepreneurial Skills Class 10 Short Answer Type Questions

Question 1.
How is society helping entrepreneurs in their business?
Answer:
Society is helping entrepreneurs by

• Creating needs
• Providing raw material
• Buying/selling of items
• Making money

Question 2.
What do entrepreneurs do when they run their business? Mention any two points.
Answer:
Entrepreneurs perform a variety of tasks to run their business. Two key activities include:
(i) Strategic Planning and Decision-Making Entrepreneurs set goals, define business strategies, and make crucial decisions that affect the direction and success of the business. This includes market research, financial planning, and risk assessment.

(ii) Operational Management Entrepreneurs oversee daily operations, ensuring that the business runs smoothly. This involves managing employees, handling supply chain logistics and maintaining product or service quality.

Question 3.
Raj has a small convenience store in his locality. There are many other convenience stores in the area. Yet, Raj’s store survives the competition and does well. Which stage of an entrepreneur’s career process can you relate this to? Explain. Competency Based Ques.
Answer:
This stage is the Survive stage of an entrepreneur’s ‘ career process. In this stage, even if there are many entrepreneurs in the market, the new entrepreneur has to remain in a competitive market.

Question 4.
“Entrepreneurs are born, not made.” Do you agree with this statement? Justify your answer.
Answer:
No, this is a myth/misconception about entrepreneurship. Being an entrepreneur starts with a way of thinking. One must believe that anything is possible and it shall be achieved. It starts with thinking of an idea that you want to work on, making it different.

Question 5.
List any two common misconceptions about entrepreneurship.
Answer:
Refer to text on page No. 53 (Myths/Misconception about Entrepreneurship).

Question 6.
Give any two key roles performed by an entrepreneur.
Answer:
Refer to text on page No. 52 (Role and Significance of Entrepreneurs).

Question 7.
Define the term agricultural entrepreneurship. How are farmers benefitted from it?
Answer:
Agricultural entrepreneurship involves applying innovative approaches to farming and related activities to create value and generate income. Farmers benefit from it through increased profitability, diversification of income, access to new markets, adoption of technology, and empowerment for rural development.

Entrepreneurial Skills Class 10 Activities

Activity 1

Entrepreneurs I know: Individual Practice

Procedure:

In this activity, we will think of the entrepreneurs we know.

Instructions:

1. Think of 4 entrepreneurs whom you know or have seen.
2. Draw circles and in each circle write the name of that entrepreneur, what business they run, and one thing that you really like about their business.
3. After writing, share the details of the entrepreneurs with your class.

Activity 2

Field Work: Let’s be an Entrepreneur

Procedure

In this activity, students will find problems on their school campus that can be turned into business opportunities.

Instructions:

1. Form groups of 3 each.
2. Take 30 minutes to go around your school.
3. Note down 2-3 problems you see on your school campus.
4. Write down some business ideas to solve these problems in the table given below.
5. Also think about how your business ideas will help

Problem	Business ideas	How will this help the school?
For example, plastic cola bottles from the canteen are harming the environment	1. Make plant pots out of bottles and sell to students and parents.	1. The school will look green and beautiful. The air will be fresh.
	2. Sell cola in glass bottles.	2. The canteen owner will spend less money on buying glass bottles because they can be used again.

Activity 3

Let us Solve a Problem!

Procedure:

In this activity, students will try and solve a problem in their vicinity.

Instructions:

1. Similar to Activity 1.2, select a problem in the area near your home. This could be a problem that really bothers you.
2. Make a 5-step plan for how you will solve the problem.
3. Implement step 1 of your solution!
4. After that, try implementing all the steps. Try your solution for a week.

Activity 4

Interview an entrepreneur

Procedure:
In this activity, students will observe entrepreneurs at work, and speak to them and their employees about their work.

Instructions:

1. Identify an entrepreneur in your area that you like or know.
2. On a weekend, spend some time in their shop and note everything that they do.
3. After that, speak to the entrepreneur and ask them in detail what activities they do in a day.
4. Also speak to somebody who works for them. Ask them what activities they see the entrepreneur do in a day. Write all your notes in figure.

5. After you are back in class, make a list of all the actions you listed with your teacher. Compare your list with the list of your friends. Notice how many actions get repeated.

Activity 5

Identifying Everyday Heroes

Procedure:

In this activity, the teacher will make chits about different professions and the students will act them out. There will be a discussion after that. The professions are

1. a vegetable seller not using plastic bags
2. a businesswoman running a delivery system
3. a chai wala selling fruit flavoured tea
4. a gold seller selling gold teeth

Instructions:

1. There will be professions of different people written on each chit of paper. The student reads the profession and acts it out for the class.
2. Identify what each person is doing differently in their business.

Activity 6

Make and sell

Procedure:

In this activity, students make an item in class and step out to sell it to someone.

Instructions:

1. Form groups of 5 people each. The group should have a mix of boys and girls.
2. Look into your bags and desks and find any three items. Put them on your desk.
3. With the materials you’ve collected, make an object. Take 15 minutes to do this.
4. Now, take 30 minutes to sell it for money, to someone in school.

Actlvity 7

Presenting about the Power of Entrepreneurship

Procedure:

In this activity, students shall prepare and present why they think entrepreneurship is a good life option for a person and for the society

Instructions:

1. Get into groups of 5 each.
2. Imagine you believe that people should become entrepreneurs. You are speaking at your school assembly. You have to talk to the audience about the power of entrepreneurship. Prepare a presentation for the same.
3. You can use any way to present – talk, draw, act, sing, or dance.
4. You have 15 minutes to prepare. You will have 5 minutes to present.

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