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GeneralClass 11CBSE

What do you understand by sweat equity?

Entrepreneurs create equity as a direct result of their hard work. They bear the cost and risk of launching a new venture, undertake responsibilities for developing a new product, commercialising an invention, putting it to social use, adapting a technology and developing a new market. While managing all these activities they create assets for an enterprise which is known as sweat equity.

GeneralClass 11CBSE

Why do you think youth fall in anti social activities? How can their energies be channalised in the right direction?

14.Youth is always full of vigour. In the absence of opportunities which can occupy them in productive activities, their energy and strength often gets diverted towards anti social activities and violence. By diverting their creative urge towards entrepreneurship, a nation can prosper and overcome the problems of unemployment, foreign exchange and anti social activities.

GeneralClass 11CBSE

How is entrepreneurship related to overall development of a nation?

13.Entrepreneurship contributes to various factors for development of a nation. It encourages people to think out of the box, provides goods and services at competitive prices, ensures optimum utilisation of scarce resources, taps in most productive human resource by creating employment opportunities. It also solves the problem of foreign exchange by targeting on production for exports.

GeneralClass 11CBSE

What do you understand by leech effect? What is its impact on society?

When the surpluses generated by an enterprise are not reinvested in the area where business unit is located but are reinvested at the place of entrepreneur’s origin, then it is compared to the blood sucking process of leeches and is known as leech effect. Leech effect causes draining of wealth from the place of its origin to entrepreneur’s place of origin. In this way profits earned are not reinvested in the same area for the welfare of those people who have generated them

GeneralClass 11CBSE

Do you find entrepreneurship a better option as compared to employment?

Entrepreneurship is certainly a better option as compared to employment as– It generates employment opportunities rather than consuming them as in case of employment. In entrepreneurship, returns grow over a period of time whereas in case of employment salary or wages remain fixed. The scope of entrepreneurship is wide and unlimited. It means there is no limit for an entrepreneur to grow whereas the scope of employment is limited.

GeneralClass 11CBSE

How can entrepreneurship contribute to increase in National Production?

Entrepreneurs facilitate increase in national production in the following manner: They produce goods and services to meet increasing demand of the consumers. They facilitate earning foreign exchange through production of export goods. They bear cost and risk of launching a new venture, developing a new product, commercialising an invention and developing a new market.

GeneralClass 11CBSE

What is the major reason of unemployment?

Excessive dependence on wage/salary employment is the major cause of unemployment.

GeneralClass 11CBSE

Name the two categories in which employed people can be divided.

White Collar (a salaried and educated professional) and Blue Collar (manual labour)

GeneralClass 11CBSE

Which career option can make a person self employed?

Entrepreneurship can not only make one person self employed but also generates opportunities for others.

GeneralClass 11CBSE

Name the major source which can help in earning foreign exchange.

Through production of export goods, entrepreneurship can help in earning foreign exchange.

GeneralClass 11CBSE

Who was considered as the spark of the human civilisation?

Entrepreneurship was considered as the spark of human civilisation because of its remarkable contribution in the domain of art, science, culture and wealth.

GeneralClass 11CBSE

Which resource can contribute the most to expedite the rate of development?

Entrepreneurship is the most significant resource which can bring speedy changes in the rate of development.

GeneralClass 11CBSE

What was the contribution of entrepreneurs in the golden era of Indian History?

It was the era of entrepreneurial excellence. The country excelled in the arena of art, culture, science and wealth.

GeneralClass 11CBSE

Name the type of power which is presently dominating the world affairs.

Economic Power is the type of power dominating the world affairs presently.

GeneralClass 11CBSE

Name the type of power which has dominated the world’s affairs in the beginning.

The type of power which dominated the world affairs in the beginning is the muscle power.

GeneralClass 11CBSE

What is the need for developing entrepreneurial abilities among the educated population?

Over the period from 1991-1997, the population of India has increased from 8,560 to 9,590 lakhs and the capable workforce (in the age group of 15 to 60 years) has increased from 4,965 to 5,562 lakhs. Despite such increase in the capable workforce, the employment opportunities increased only by 3 lakhs in public sector and 10 lakhs in the private sector. This shows that the organised sector is not able to provide employment to such huge population. Further, during the period from 1991-1997, th

GeneralClass 11CBSE

How does entrepreneur education helps in a career?

Entrepreneur education aims at building the capacity to generate ideas, innovative products, processes and service. General education does not emphasise much on building entrepreneurial abilities among individuals. It focuses on providing subject knowledge only. College education partially builds such knowledge by focusing on laboratory experimentation, project work, training operations related to production etc. Professional and vocational education bestows detailed knowledge to an individua

GeneralClass 11CBSE

Explain the three stages of education that help in human resource development.

Education involves the following three levels of human resource development:

GeneralClass 11CBSE

How does entrepreneurship develops social vision and application?

Education for entrepreneurship develops the ability of individuals to generate ideas, objects, products, processes and services. However, mere creation of ideas, products and services out of the acquired resources is not going to be used by the society, unless these products are put to social application. Therefore, it is necessary that the society recognises these products and services to ensure sustainable return over investment.

GeneralClass 11CBSE

“Education begets confidence”. Explain.

Educated individuals have more information at their disposal. They are aware of the need for systematising things and can organise things in a better way in comparison to others, they have good communication skills and they can handle complex issues by their analytical thinking. All these inputs build their sense of self-confidence which is a prime necessity for being a good entrepreneur.

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