1. A small business run by a single person is called as ____.

• A) Multinational Unit
• B) Partnership
• C) Sole Proprietorship ✅
• D) Private Limited

2. Bindu has started a small auto repair shop. She is the only person managing the business. Which kind of business is it?

• A) Partnership
• B) Private Limited
• C) Multinational Unit
• D) Sole Proprietorship ✅

3. _____ is the ministry in the Govt. of India that forms and implements the rules and regulations for enterprises in India.

41. A ______ is a short and effective presentation to describe the business.

    • A) Customer Analysis
    • B) Communication
    • C) Return on Investment
    • D) Business Pitch

    Answer: D

42. A business pitch is presented to investors who help us with _____, _____, and _____.

    • A) Customer and Quality
    • B) Money, Resources, and Mentoring Support
    • C) Plan and Marketing
    • D) Profit and Loss

    Answer: B

1. A ______ is a document with complete strategy for the business.
   A) Strategy Report
   B) Action Plan
   C) Business Plan
   D) Stakeholder Report
   Answer: C
2. _____ is not a part of a good business plan.
   A) Weather Report
   B) Marketing Strategy
   C) Customer Analysis
   D) Budget
   Answer: A
3. _____ is about the competition in the online or offline market.
   A) People Analysis
   B) Competitor Analysis
   C) Customer Analysis
   D) Budget Plan
   Answer: B
4. How can we understand what customers want?
   A) By doing research on customer needs

31. A business idea should ________________.
    • A) Satisfy only my needs
    • B) Fulfill customer needs or solve their problems ✅
    • C) Save the world
    • D) None of these
32. A good business idea for a young or new entrepreneur should be sustainable. This means __________.
    • A) It is easy to use
    • B) It has many details
    • C) It has budget
    • D) It is planned for the present and future business growth ✅
33. A good business idea should be ________.
    • A) Very common

1. Product and service are two things that can be sold. Product is what can be seen, touched and used. Service is what we _______.
   A) Buy from vegetable shop
   B) Feel, Experience and Enjoy
   C) Pay with Gpay
   D) Do not enjoy
   Answer: B
2. Product is an object that can be __________.
   A) Seen
   B) Touched
   C) Seen, Touched and Used
   D) Used
   Answer: C
3. Sharvan serves as a delivery agent delivering tomatoes from a farmer to a company that makes tomato sauce. What is Sharvan’s job?
   A) Seller
   B) Service Provider

21: Customers’ needs can be understood through __________.
A) Customer Survey
B) Selling
C) Talking to our family
D) Customer service
Answer: A

22: An Entrepreneur needs to maintain good ________ with his customers.
A) Communication
B) Relationship
C) Behavior
D) Friendship
Answer: B

23: Why do customers like a product or service?
A) Good Price
B) Good Quality
C) Feel of the product or service
D) All of these
Answer: D

Q.16: How does Market Scan help with running a business?
A) Gives an idea about the customers
B) Helps understand about other similar business
C) Helps in making the business plan
D) All of these ✅
 

Q.17: You want to sell toys. What should you do before starting your business?
A) Design the toys
B) Find out what children like ✅
C) Build a factory
D) Hire salespeople
 

Q11. Self-Employment means _____.
A) Working for an employer at a fixed monthly income
B) Freelancing or running a business rather than working for an employer ✅
C) Selling food items
D) Only focusing on earning profits
 

Q12. A person who hires other people for their business is an __________.
A) Self-Employed
B) Employee
C) Entrepreneur ✅
D) Employer
 

6. What is the most important skill needed to be a successful entrepreneur?
   • A. Earning money
   • B. Giving up on failure
   • C. Having an Entrepreneurial Mindset
   • D. Expanding markets
   • Answer: C
7. An Entrepreneur can help the society by __________.
   • A. Seeking new opportunities
   • B. Marketing the product
   • C. Working with a team
   • D. Creating job opportunities
   • Answer: D
8. What are some of the qualities of a strong entrepreneur?
   • A. Learning from failures

1. Entrepreneurship means ______.
   • A. Starting a new career
   • B. Managing career
   • C. Running your own business
   • D. Supporting a business person
   • Answer: C
2. What are the duties of an entrepreneur?
   • A. Talking to customers
   • B. Managing finances and budgets
   • C. Managing the business
   • D. All of these
   • Answer: D
3. Which of the following is the BEST definition of profit?
   • A. The total amount of money a business makes from selling goods or services.