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NIOS Class 10 Business Studies Chapter 19 Choosing Career
Also, you can read the NIOS book online in these sections Solutions by Expert Teachers as per National Institute of Open Schooling (NIOS) Book guidelines. These solutions are part of NIOS All Subject Solutions. Here we have given NIOS Class 10 Business Studies Chapter 19 Choosing Career Solutions, NIOS Secondary Course Business Studies Solutions for All Chapter, You can practice these here.
Choosing Career
Chapter: 19
NIOS TEXTBOOK QUESTIONS ANSWERS
Intext Questions 19.1
Which of the following statements are true and which are false?
(a) Career covers a sequence of positions in a job that a person is engaged in during his work life.
Ans:- True.
(b) Selection of a right career is essential in everybody’s life.
Ans:- True.
(c) Today’s generation has very few career options.
Ans:- False.
(d) Planning a career is not required at the early stage.
Ans:- False.
(e) Knowledge of various career options is helpful in choosing the right career.
Ans:- True.
Intext Questions 19.2
Fill in the blanks by using appropriate words:
(i) Occupation of the people is always related with _______ activity.
Ans:- Economic.
(ii) At lower levels, Government Departments mostly employ people for ___________ jobs.
Ans:- Clerical.
(iii) For the jobs of a storekeeper a person must have the skill of preparing _______ order.
Ans:- Purchase.
(iv) Ability to handle ________________ is necessary for most clerical jobs.
Ans:- Office machines.
(v) Fluency in ______________ is essential for Telephone Operators.
Ans:- Language.
(vi) _________ employment means serving others for wages or salary.
Ans:- Wage.
(vii) An individual engages in any economic activity and manages it on his own, it is known as _________.
Ans:- Self – employment.
(viii) On completion of a technical or secretarial course, a person can find employment as ____________.
Ans:- Technical staff.
Intext Questions 19.3
Which of the following statements are True and which are false?
(i) Self employment means engaging in any economic activity on one’s own.
Ans:- True.
(ii) There is no limit to earning in wage employment.
Ans:- False.
(iii) Some amount of capital is needed even when a person provides individualised service for a price.
Ans:- True.
(iv) Self-employment in business involves risks of loss to be borne by the owners.
Ans:- True.
(v) A goldsmith cannot be self-employed as he has to work under a jeweller.
Ans:- False.
Intext Questions 19.4
I. Fill in the blanks with appropriate words:
(i) In self-employment a person should have the ability to identify ____________.
Ans:- Job opportunities for self-employment.
(ii) To succeed in self-employment a person must have ___________ in his own ability.
Ans:- Confidence.
(iii) To be successful as owner of a business one should have __________ about the business.
Ans:- Knowledge.
(iv) Knowledge of accounting is necessary for a person in self employment to ascertain__________.
Ans:- Profit or loss.
(v) Entrepreneurship is related to the quality of ____________ and ___________.
Ans:- Innovativeness and creativity.
(vi) Self-employment provides opportunities of earning livelihood for those unable to pursue_________.
Ans:- Higher education.
(vii) Your choice of career should be based on your ______ , _____, and ______.
Ans:- Abilities, aptitude and interest.
(viii) You may start thinking about your strengths and ___________.
Ans:- Weaknesses.
(ix) Do not select a job for which you do not have __________.
Ans:- Interest.
(x) Communication skill is _________ in the modern world for all jobs.
Ans:- Necessary.
II.
| Multiple Choice Questions |
(i) Wage employment means
(a) Serving another person for wages or salary.
(b) Doing business.
(c) Engaging in some economic activity on his own.
(d) None of the above.
Ans:- (a) Serving another person for wages or salary.
(ii) Self employment means:
(a) A contract between the employers and employee.
(b) Serving another person for salary or wages.
(c) Engaging in some economic activity on his own.
(d) None of the above.
Ans:- (c) Engaging in some economic activity on his own.
(iii) Which of the following is not a quality required for self employment.
(a) Formal education.
(b) Alertness & Foresight.
(c) Knowledge about business.
(d) Acquaintance with relevant laws.
Ans:- (a) Formal education.
(iv) Career Path means
(a) Work done in different job positions.
(b) Way adopted for a career.
(c) Getting Professional degree.
(d) Getting a job title.
Ans:- (c) Getting Professional degree.
(v) Career Planning includes
(a) Starting a own business.
(b) Thinking suitably about positive and negative aspects of a career.
(c) Joining a job.
(d) Making adjustments with the career.
Ans:- (b) Thinking suitably about positive and negative aspects of a career.
| Terminal Questions |
1. What is meant by
(a) wage employment. and
(b) self-employment?
Ans:- (a) Wage employment: Wage employment means serving another person for wages or salary. If someone is appointed as office assistant, he is expected to do what the office supervisor wants him to do, and he gets a monthly salary for his job. This type of employment is based on a contract between the employers and employee.
(b) Self – employment: It refers to an occupation in which a person engages himself/herself in some economic activity on his own to earn his/her livelihood. Let us discuss briefly the job opportunities or avenues of wage employment.
2. Define the term “Career”.
Ans:- Career means the progress and actions taken by a person throughout a lifetime especially those related to that person’s occupations. A career is often composed of the jobs held, titles earned and work accomplished over a long period of time, rather than just referring to one position, while employees in some cultures and economies stay with one job during their career, there is an increasing trend among employees to change jobs more frequently.
3. Explain the importance of choosing a career.
Ans:- Choosing a career is an important aspect of life. Career choice will probably affect an individual’s eventful life-style more than any other choices he/she makes. The influence of jobs touches many facets of life, shaping our values, attitudes, and habits. In a world dominated by cut-throat competition, making the right career choice in the beginning is very important. There is definitely a need that one should go through a process which will enlighten and inform the individual with respect to the various career options.s. In this process the individual will also discover his or her own abilities which are important parts of any career decision. Career Planning is one of the broader aspects of learning in our existence. Career Planning makes a person think suitably about his positive and negative aspects. Career Planning helps us to design and formulate our future smoothly. For example, if a person wants to be a banker, then he or she would choose to go for ICWA or CA or MBA in finance after completing Intermediate and Graduation in commerce or Business Administration.
4. State briefly the avenues of wage employment in the area of business.
Ans:- Avenues of wage-employment consists of clerical or technical jobs at lower levels. Wage employment means serving another person for wages or salary. If someone is appointed as office assistant, he is expected to do what the office supervisor wants him to do, and he gets a monthly salary for his job. This type of employment is based on a contract between the employers and employee. The employee has to work for the employer, carry out the tasks assigned to him, and is remunerated for it. During working hours, the employee is to work under the supervision and control of the employer.
5. Describe the importance of self-employment in the present context of unemployment.
Ans:- Self – employment in the present context of unemployment is very important t instead of seeking a job, you may do something on your own to earn your living. You may run a bookshop, medical store, or tailoring shop, etc. Creative and qualified self-employed individuals contribute to economic growth by inventing new products, production processes, distribution methods and employing other people. Higher rates of self-employment may indicate increased entrepreneurial activity reducing unemployment in subsequent periods.
6. How is self-employment an alternative to large-scale industries?
Ans:- Self-employment offers opportunities for using one’s own talents for one’s benefit. You can use your ability and time in the most profitable manner through self-employment. Self-employment is possible even without large resources of capital and other facilities. For example, a replay-cum-service shop can be started with a limited amount of capital.
Some of benefits of self employment are as follows:
(i) Flexibility: Self employment allows the individual to do things that they love, set customised working hours, decide what work to do or not do, and often involves working from home, which saves a large amount of commuting time.
(ii) Control over earning potential: Self-employment offers independence, the potential for higher earnings, and creative freedom.Your earning potential depends on the initiatives you take.The more you work and put in efforts, the more you can earn.
(iii) Opportunity for creativity and innovation: In self-employment, the person learns many things ‘on the job’ because he has to take all the decisions regarding his business activities for his own benefit.
7. State any four qualities required for success in self-employment.
Ans:- The various qualities required to successfully pursue self-employment:
(i) Mental abilities: To be self-employed you need to have the ability to identify the most suitable area where there is opportunity of self employment; also you should have the ability to take decisions with respect to all business operations; ability to deal with different types of customers is equally important and also the ability to anticipate problems and bear risks.
(ii) Alertness and foresight: A self employed person should be aware and alert about changes taking place in the market so as to adjust his operations. He should also have the foresight to anticipate changes to avail of opportunities and meeting threats likely to arise in the near future.
(iii) Self-confidence: In self-employment, the owner has to take all decisions; he must also have confidence in himself to overcome problems and also while dealing with suppliers / creditors, customers and government officials.
(iv) Knowledge about business: Any one who is self-employed in business must have full knowledge about the business, including technical knowledge and skill for running the business.
8. Explain the skills required for an accounting job.
Ans:- Some of the skills required for an accounting job are discussed below:
(i) Financial knowledge: The ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.
(ii) Attention to details: Attention to detail is a crucial skill for accountants, as it can affect the accuracy, quality, and reliability of their work. Whether you are preparing financial statements, auditing records, or filing taxes, you need to be meticulous and thorough in your tasks.
(iii) Analytical skills: Its main purpose is to track expense and revenue accounts by categories in order to derive profit and loss by activity.
(iv) Problem-solving abilities: Problem-solving skills help you determine the source of a problem and find an effective solution. Some key problem-solving skills include: Active listening.
(v) Proficiency in accounting software: A smart choice is to learn the ins and outs of spreadsheets and a few common types of accounting software. Small businesses usually rely on standalone accounting software, while midsize and large firms opt for enterprise resource management (ERP) systems.
9. Identify motivational factors for self – employment.
Ans:- Some of the motivational factors for self – employment are discussed below:
(i) Passion: The ability to pursue your passion is the number one benefit of being self-employed. Being your own boss provides the freedom to pursue a career in something you love. You will be able to choose projects that matter to you, thereby giving your work-life meaning.
(ii) Own work schedule: Being self employed allows you to create your own schedule and decide when and how much you work. In the beginning, it’s common for self-employed individuals to spend many hours building their business, which could mean working overtime or on weekends.
(iii) Creative control: Working for yourself allows you to be as creative as you like without the limitations that can come with working for an employer.
(iv) Improved Quality of Life: Being self-employed isn’t easy. It comes with unique stresses and responsibilities. The success of the business lies on your shoulders. But being your own boss also opens you up for an improved quality of life. When you’re doing what you want to do, you may feel greater job satisfaction that you could never achieve working for someone else.
(v) A passion for solving problems. They enjoy a challenge, whether it’s solving a problem, building a new product, or making something from nothing.
10. Distinguish between self-employment and wage employment.
Ans:-
| Basic | Self employment | Wage employment |
| 1. Nature | Engage in activities on one’s own. | Engage in activities assigned by the employer. |
| 2. Status or position | The position of the person is that of owner and may be that of an employer. | The position of the person is that of an employee. |
| 3. Income or earning | Income or earning is not fixed. It depends on the ability of the owner. | Income of the employed person is fixed and may be increased, if the employee so decides |
| 4. Work involved | Work involved is aimed at earning more and increasing the volume of business. The nature of work cannot be decided in advance and may vary. | The work to be performed by the employee is specific and per-decide. |
| 5. Risk bearing | There is always the risk of loss sometime and earnings may decline at times. | There is no risk of reduced income so long as the employee continues to work. |
| 6. Freedom of work | The owner is free to decide how to run the business depending on the available opportunities. | The employee has to work according to the terms and condition of employment. |
11. Enumerate the possible areas in which a person can be self-employed.
Ans:- The possible areas in which a person can be self-employed are discussed below:
(i) Small scale retail business: Single owners can easily start and manage small business units profitably with the help of one or two assistants. It can be a grocery store, stationery shop, or a cloth store, etc.
(ii) Providing services based on individual skills: Services which can be rendered to customers by individuals on the basis of specialised skill can also be taken up by way of self employment. For example, repairing bicycles and scooters, watches and clocks, tailoring, hairdressing, etc.
(iii) Occupations based on professional qualifications: Activities which require professional training and experience are known as self employment. Thus, for example, practising Doctors, Lawyers, Chartered Accountants, Pharmacists, Architects, etc.
(iv) Farming on a small scale: Opportunities are also there for self employment in small scale farming activities like dairy, poultry, fishery, horticulture, Seri-culture, etc.
(v) Village and cottage industries: Activities like hand spinning and weaving, hand knitting, stitching garments, etc. can be taken up as self employment; these may be based on traditional inherited skills.
(vi) Arts and crafts: Those who have been trained in certain craftsmanship or art can be self-employed in such occupations as those of goldsmiths, blacksmiths, carpentry, etc.
