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

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GeneralClass 11CBSE

What is the driving force for an entrepreneur?

Motivation is the driving force for an entrepreneur.

GeneralClass 11CBSE

What do you mean by self-employment?

Self-employment means a full time involvement in one’s own occupation or pursuit of economic advantage.

GeneralClass 11CBSE

What is meant by income generation?

Income generation refers to the activities that produce surplus or profit.

GeneralClass 11CBSE

How will you categorize enterprise on the basis of size?

On the basis of size enterprise are categorized as follows: Large industry Medium industry Small scale industries Micro-enterprises

GeneralClass 11CBSE

How will you categorise enterprise on the basis of size?

On the basis of size, enterprises are categorised as follows: Large industry. Medium industry. Small scale industries. Micro-enterprises.

GeneralClass 11CBSE

Name the three categories of enterprises.

Enterprises are broadly classified as: Industry. Trade and business. Services.

GeneralClass 11CBSE

What is meant by entrepreneurship?

Entrepreneurial career emphasises on innovative and creative activities with a constant endeavour to establish more and better comfortable living conditions. Entrepreneurs are engaged in establishment and management of business enterprises.

GeneralClass 11CBSE

What do you mean by wage-employment?

Wage-employment refers to the occupation of the people who work regularly for others and receive wages and salary in return. They are basically engaged in performing a routine task or repeating the practices as instructed or initiated by others earlier.

GeneralClass 11CBSE

Give the meaning of the term ‘occupation’ as defined in economics.

Occupations are often categorised as ‘businesses, ‘profession’ and ‘employment’. In an occupation, individuals alone or in a group are regularly engaged in a particular type of activity. Occupations are classified as self-occupied and employed.

GeneralClass 11CBSE

Describe the era of village economy.

The era of village economy focused on human activities devoted to innovation, production and distribution of processed goods, tools, implements and other articles of domestic use with private initiatives. Entrepreneurship flourished abundantly under village economy.

GeneralClass 11CBSE

What was the major occupation of the people after the permanent settlement?

After the permanent settlement agriculture was the main occupation. People were engaged in generating surplus through selected agricultural and animal husbandry services, supply of tools and implements, innovative ways and means to process agriculture etc.

GeneralClass 11CBSE

What were the main activities of the tribal people in the past?

Tribal people, settled at one place got involved in the activities like, rearing of animals, gathering and storage of food, protection from natural hazards, wild animals etc.

GeneralClass 11CBSE

What was the nature of human activity at the dawn of civilisation.

At the dawn of civilisation, people used to move in groups. They were primarily focused on animal hunting and food gathering to satisfy elementary needs.

GeneralClass 11CBSE

What is the contribution of service sector enterprise in entrepreneurship?

Service sector enterprise has grown manifold causing rapid and horizontal spread of entrepreneurship.

GeneralClass 11CBSE

What was the main feature of economy in the towns?

Town economy marked the beginning of ‘mercantile era’. All innovations, goods or services found their use well spread outside the local boundaries.

GeneralClass 11CBSE

On what basis enterprises are categorised?

Enterprises are categorised on the basis of the nature of entrepreneurial activities, their size, level of technology used and their location.

GeneralClass 11CBSE

What does the society need to avail the facility of transport?

Society needs production, distribution, maintenance and modifications of the means of transport to suit the changing environment.

GeneralClass 11CBSE

What is the nature of the human activity?

Human activity faces continuous change. It is dependant on new goods and services to adjust with the changing environment.

GeneralClass 11CBSE

What is considered as the prime need of human beings?

Mobility is considered as the prime human need. In order to satisfy this need, there has been a continuous search for means of transport and related services.

GeneralClass 11CBSE

Why people are engaged in economic activities?

People are engaged in performing economic activities to earn their living, to generate wealth and to improve their standard of living.

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