myclass24
myclass24your class. your pace.
Q&A BANK

every question.
answered.

5,777 answers across CBSE, ICSE, and State boards - Class 1 to 12, every subject.

CBSEICSEState
SUBJECT
CLASS

Latest answers

5,777 TOTAL
GeneralClass 10CBSE

Entrepreneurship helps in social transformation. Explain

The main objective of setting up an enterprise is the social development and hence entrepreneurship provides an opportunity to an entrepreneur to bring a positive social change.

GeneralClass 10CBSE

Why an entrepreneur is called a change agent?

An entrepreneur is called a change agent as he with his innovation and skill brings a positive change in the environment.

GeneralClass 10CBSE

How Peter Drucker has defined the term entrepreneur?

According to Peter Drucker, entrepreneur is a one who is involved in gathering and using resources to opportunities to produce results.

GeneralClass 10CBSE

When does a source become a resource?

A source becomes a resource when it acquires a utilitarian dimension along with an economic value.

GeneralClass 10CBSE

List any two characteristics of entrepreneur.

Characteristics of Entrepreneur: Innovator Problem solver

GeneralClass 10CBSE

Explain Joseph Schumpeter’s concept of entrepreneurship.

Joseph Schumpeter defines entrepreneurship as a process of creative destruction.

GeneralClass 10CBSE

How does the spirit of entrepreneurship help an entrepreneur?

The spirit of entrepreneurship helps an individual to take up challenges and grow in future.

GeneralClass 10CBSE

Why any individual need an enterprise?

An individual need an enterprise for happiness, joy, comfort and peace so that he can have a life worth living.

GeneralClass 10CBSE

What do you mean by entrepreneurship?

It is the process through which entrepreneurs create and grow enterprises.

GeneralClass 11CBSE

Why an entrepreneur is referred as a change agent?

The word entrepreneurship is derived from a French word ‘entreprendre’ commonly used in the 17th century. It refers to the individuals who were basically undertakers, who took the risk of a new enterprise. In French, British and Australian literature in economics, the word was used in the context of change agents.

GeneralClass 11CBSE

Is the concept of entrepreneurship confined to big business enterprises and economic institutions only?

No, the concept of entrepreneurship is equally or much more important to small scale industries and for small enterprises.

GeneralClass 11CBSE

Mention three qualities of an entrepreneur as stated by Peter Drucker.

Peter Drucker says that an entrepreneur: a) searches for a change b) responds to change c) exploits the change as an opportunity

GeneralClass 11CBSE

How Adam Smith defined an entrepreneur?

According to Adam Smith, an entrepreneur is an individual who undertakes the formation of an organisation for commercial purposes by organising the potential demand for goods and services. He acts as an economic agent and transforms demand into supply.

GeneralClass 11CBSE

Name the economist known for the various theories on the principles of economics.

Prof. Adam Smith is a well known economist known for the various theories on the principles of economics.

GeneralClass 11CBSE

How entrepreneurship helps in harnessing youth vigour?

Unemployment is growing all over the world. In India out of its 58 percent work force, 43 percent is unemployed. This accounts for nearly 25 million educated youth who are unemployed. In the absence of unemployment opportunities, youth often get engaged in anti social activities and at the same time the nation also don’t get to utilise the most productive source creatively. Excessive dependence on wage or salary cannot be relied as a solution to tap this productive resource. Entrepreneu

GeneralClass 11CBSE

Mention the importance of entrepreneurs in the following context. 6 Marks - Commercialising new ventures and products. - Offering challenging career options. - Reducing concentration of economic power.

20. Commercialising new ventures and products: Entrepreneurs shoulder the responsibility of the government by bearing the cost and risk of launching new venture, developing new products, commercialising technical inventions, adapting new technology and developing a new market. Offering challenging career options As compared to wage or salaried employment, entrepreneurship offers a challenging career option through its nature of being innovative. Entrepreneurs

GeneralClass 11CBSE

Differentiate between employment and entrepreneurship as career options.

The following table will illustrate the difference between employment and entrepreneurship: | Basis | Employment | Entrepreneurship | | --- | --- | --- | | | | | | 1. Nature | Self saturating | Unstable and self generating | | | | | | 2. Scope | Limited | Unlimited | | | | | | 3. Contribution to wealth generation | Indirect | Direct | | | | | | 4. Income | Fixed | Growing, Generating surplus | | | | | | 5. Status | Employee | Employer | | | | |

GeneralClass 11CBSE

Making society enterprising is one of the important tasks of entrepreneurship. Explain.

Entrepreneurship develops the traits of problem solving, innovation and optimum use of resources to meet challenges present in the society. In this manner it contributes to economic development, prosperity of the nation apart from making the society enterprising. Entrepreneurs engage in locating, mobilising and using resources in the best possible manner to meet challenges. In this way they make society vibrant, dynamic and enterprising. It develops a sense of self confidence among the

GeneralClass 11CBSE

How can entrepreneurship make market more competitive?

The markets in which entrepreneurs operate has a little tolerance for miscalculations about business opportunities, lack of commitment and incompetence. So entrepreneurs become very sensitive towards discipline of the market. They try to remain competitive through their innovative ideas and strategies. They try to keep cost under control through optimum utilisation of resources. Not only in the domestic market but also in international market they create competitive environment. They facilita

GeneralClass 11CBSE

How can entrepreneurship contribute to Balanced Area Development?

Tertiary sector also develops along with the manufacturing sector. A large number of welfare activities like roads, transportation, banking, communication, health, education, entertainment etc. develop side by side when industrial production takes place. Emergence of entrepreneurship in local areas facilitates balanced regional development. Otherwise, if industrial and economic activities remain concentrated in the hands of a few people, development will be lop sided. All those areas wi

STILL STUCK?

Get a tutor for just your question.

One-on-one help, verified tutors. Matched within 24 hours.

Get Started →