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Subjects

Home Science

Entrepreneurship: definition and characteristics

This Class 11 Home Science topic introduces entrepreneurship as the process of identifying opportunities, organising resources and creating value through a product, service or enterprise. Students explore the meaning of an entrepreneur and key characteristics such as initiative, creativity, innovation, calculated risk-taking, decision-making, leadership and perseverance. Linked to Work, Livelihood and Career, it helps learners understand how entrepreneurial thinking can support self-employment, livelihoods and career choices, including opportunities related to home science.

Easy · Level 2 · 25 questions

Practice questions

01Why is leadership necessary in entrepreneurship?

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02Continuing efforts consistently is an example of which entrepreneurial quality?

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03Why should an entrepreneur keep records of profit and expenses?

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04How can entrepreneurship make a person independent?

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05Understanding customer need before making a new product shows what?

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06Which quality helps an entrepreneur try again after failure?

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07Setting the right price in business is related to what?

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08What is communication skill used for by an entrepreneur?

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09Listening to a customer's complaint in business shows which quality?

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10Why is goal setting necessary in entrepreneurship?

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11Why should an entrepreneur know about competition?

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12What is an important personal quality of a successful entrepreneur?

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13Why should an entrepreneur take decisions quickly but carefully?

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14When is teamwork necessary for an entrepreneur?

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15Reinvesting small profit into the business shows which thinking?

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16Why is building good relationships beneficial in business?

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17When should an entrepreneur improve a product or service?

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18Why is patience necessary for an entrepreneur?

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19What effect can entrepreneurship have on the country's economy?

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20Why should an entrepreneur follow legal rules?

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21Which is one identity of an entrepreneur?

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22Innovation in entrepreneurship is related to what?

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23What should an entrepreneur learn from failure?

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24What should an entrepreneur do when resources are limited in business?

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25Which is the most correct identity of entrepreneurship?

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