Class 10 Employability Skills Chapter 4 Entrepreneurial Skills

Class 10 Employability Skills Chapter 4 Entrepreneurial Skills Solutions English Medium to each chapter is provided in the list so that you can easily browse through different chapters Class 10 Employability Skills Chapter 4 Entrepreneurial Skills Question Answer and select need one. Class 10 Employability Skills Chapter 4 Entrepreneurial Skills Question Answer in English Download PDF. SEBA 10 Elective Employability Skills Solutions English Medium.

Class 10 Employability Skills Chapter 4 Entrepreneurial Skills

Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. SEBA Class 10 Elective Employability Skills Textbook Solutions are part of All Subject Solutions. Here we have given SEBA Class 10 Elective Employability Textual Question Answer in English for All Chapters, You can practice these here.

Entrepreneurial Skills

Chapter: 4

SESSION 1: ENTREPRENEURSHIP AND SOCIETY

Check Your Progress

A. State whether the following statements are True or False:

1. Entrepreneurs can create jobs in the market.

Ans: True.

2. When many entrepreneurs sell mobile phones in a market, the prices of phones increase.

Ans: False.

3. Entrepreneurs identify a need in the market and build a product or service for it.

Ans: True.

B. Subjective question:

1. List the ways in which an entrepreneur affects a society.

Ans: (a) Fulfil Customer Needs: Demand means a product or service that people want. Entrepreneurs find out what people want. Then, they use their creativity to come up with a business idea that will meet that demand.

(b) Use Local Materials: Entrepreneurs use the material and people available around them, to make products at low cost.

(c) Help Society: Entrepreneurs have a positive relationship with society. They make profits through activities that benefit society. Some entrepreneurs work towards saving the environment, some give money to build schools and hospitals. This way, the people and area around them becomes better.

(d) Create Jobs: With the growth of a business, entrepreneurs look for more people to help them. They buy more material, and from more people. They also hire more people to work for them. In this way, more people have jobs.

(e) Sharing of Wealth: Wealth means having enough money to live a comfortable life. As entrepreneurs grow their business, the people working for them and in related businesses also grow. They have more money to live a better quality life.

(f) Lower Price of Products: As more entrepreneurs sell the same product, the price of the product goes down. For example, when more mobile phones were getting sold in India, the cost of the phone became lesser.

SESSION 2: QUALITIES AND FUNCTIONS OF AN ENTREPRENEUR

Check Your Progress

A. Here are some stories of some entrepreneurs. Tick the option for the quality they are showing.

1. Ravi’s customer comes to his store and starts shouting at him. He does not get angry. He listens to what his customer is saying. He is ____________.

(a) Hardworking.

(b) Confident.

(c) Patient.

(d) Prying new ideas.

Ans: (c) Patient.

2. Susheela decides to sell her company tyres in Sri Lanka. It does not sell and she has a loss. She apologises to the people who work for her. She says she will plan better next time. She _____________.

(a) Takes responsibility for your mistakes.

(b) Thinks before making a decision.

(c) Does not give up.

(d) Is creative.

Ans: (a) Takes responsibility for your mistakes.

B. Tick the correct option for the function that the entrepreneur is doing.

1. Ali has a diamond factory. He pays his employees on the 1st of every month.

(a) Creates a new product.

(b) Manages the business.

(c) Takes risk.

Ans: (b) Manages the business.

2. Mary buys bulbs for her business from Noida. She learns that bulbs are cheaper in Faridabad. So, she decides to start buying bulbs from there.

(a) Makes decisions.

(b) Divides income.

(c) Takes risk.

Ans: (a) Makes decisions.

3. Rehnuma has two people who work for her. Every day, she spends one hour with them to learn about what they’ve done that day.

(a) Creates a new product.

(b) Divides income.

(c) Manages the business.

Ans: (c) Manages the business.

C. Subjective question:

1. What do you think is the most important function of an entrepreneur? Write your answer giving suitable examples.

Ans: (i) Making Decisions: An entrepreneur makes decisions every day. This includes what to produce or sell, how much and where to sell.

Example: Aditi decides what types of shampoos to stock and at what price to sell them.

(ii) Managing the Business: An entrepreneur plans the future of his or her business. He/she arranges for raw material, hires people for work and tells everyone what to do. They also check if the plan is being followed.

Example: Bharti arranges jute, hires local women, and supervises their jewellery work.

(iii) Divide Income: The entrepreneur divides the business money to many groups. He/she spends money to buy material, pays rent of the building and salaries to people.

Example: Ravi divides his bakery income between buying flour, paying rent, and giving salaries.

(iv) Taking Risk: Risk is the chance of something going wrong.

Example: Ramya risks her savings by opening a new flower outlet in another town.

(v) Create a New Method, Idea or Product: An entrepreneur is always trying new things. He/she does this to increase their importance and income.

Example: Zafar introduces eco-friendly packaging for his store to attract more customers.

SESSION 3: MYTHS ABOUT ENTREPRENEURSHIP

Check Your Progress

A. Subjective questions:

1. What is the difference between a misconception and reality? Give an example.

Ans:

Misconception	Reality	Example
(i) A wrong or false belief based on incomplete knowledge or misunderstanding.	(i) The actual truth or fact supported by evidence and observation.	(i) People often think “the Sun moves around the Earth”, but in reality, the Earth revolves around the Sun.
(ii) Based on assumptions, myths, or lack of information.	(ii) Based on scientific facts, logic, and evidence.	(ii) Believing “cold weather causes cold” is a misconception; the reality is that viruses cause cold.
(iii) Arises from rumors, traditions, or unverified sources.	(iii) Comes from research, experience, and verified data.	(iii) Misconception: Eating fat makes you fat. Reality: Excess calories and poor diet cause weight gain, not healthy fats.

B. Match each story below with the misconception about entrepreneurship.

Story	Misconception
Ramu owns a large clothes shop. Shamu has a small store selling handmade sarees. Shamu does not call himself an entrepreneur.	(a) Every business idea needs to be unique or special.
Anna has a great idea for a website. She has 5,000. She is waiting for ` 20,000 more, so that she can start it.	(b) Entrepreneurs are born, not made.
In a city of thousands of tailoring shops, Gauri is a tailor who stitches good quality clothes and has a very successful business.	(c) A person needs to have a big business to be called an entrepreneur.

Ans: 

Story	Misconception	Explanation
Ramu owns a large clothes shop. Shamu has a small store selling handmade sarees. Shamu does not call himself an entrepreneur.	(a) Every business idea needs to be unique or special.	Shamu thinks only big businesses qualify, but even small businesses count as entrepreneurship.
Anna has a great idea for a website. She has 5,000. She is waiting for 20,000 more, so that she can start it.	(b) Entrepreneurs are born, not made.	Anna believes she can’t start until she has everything perfect, not realizing entrepreneurial skills can be learned and developed.
In a city of thousands of tailoring shops, Gauri is a tailor who stitches good quality clothes and has a very successful business.	(c) A person needs to have a big business to be called an entrepreneur.	Gauri’s tailoring business is not unique, but her quality and effort make it successful.

SESSION 4: ENTREPRENEURSHIP AS A CAREER OPTION

Check Your Progress

A. Write against the option, if the business idea is of self-employment or wage employment.

(a) Cooking in a restaurant.

Ans: Wage Employment.

(b) Owning a clothing business.

Ans: Self-Employment.

(c) Having a dosa selling stall.

Ans: Self-Employment.

B. Match the columns:

1. Surabhi opens 5 painting stores across India.	a. Enter
2. There are many coaching classes in Mumbai. Jacob owns one of them. He is starting morning batches to attract more students to his classes.	b. Survive
3. Salma has started her clothing line on the Internet.	c. Grow

Ans:

1. Surabhi opens 5 painting stores across India.	c. Grow
2. There are many coaching classes in Mumbai. Jacob owns one of them. He is starting morning batches to attract more students to his classes.	b. Survive
3. Salma has started her clothing line on the Internet.	a. Enter