Class 9 : Entrepreneurial Skills : NCERT Exercise

Class 09  IT 402

Entrepreneurial Skills 

 NCERT Exercise

 1. List three businesses seen around you. Share details of what the business does, and how they run it ?

Ans :

 i) General Store / Grocery Store : They sell daily based household products. The business has an owner and 3 staff works under him.

ii) Medical Store : They sell medicine prescribed by various doctors in the area. The business has an owner and 2 staff works under him.

iii) Fast Food Stall : The sells various types of fast food. The business has an owner and 2 staff works under him.

2. Gulab lives in a small village in Rajasthan. She noticed that all the women in her village were good at making paintings and handicraft product. She collected money and started a business. Gulab would help the women to get material from cities and support them in making latest designs. She would then arrange for these paintings and handicraft products to be sold in big cities. How do you think Gulab, is helping her society as an entrepreneur?

Ans : 

i) She noticed that all the women in her village were good at making paintings and handicraft product. She takes it as an opportunity.
ii) Gulab would help the women to get material from cities and support them in making latest designs. Circulation of Money and Optimal use of Resources.
iii) She would then arrange for these paintings and handicraft products to be sold in big cities. Job Creation and Money in circulation.
iv) Improved Standard of Living — More things available to live a comfortable life

3. Give examples of three entrepreneurs you know who live around you. Write how they are helping your city?

Ans : 
i) Graduate Chaiwali - Sells various flavored tea. She hire two persons one makes tea and the other serves the tea. In this way she is creating job.
ii) Rajan Medical Store - The store sells medicine and also provide free medical checkup for the poor people
iii) Radha Public School - Provide free schooling up to class 8 for the poor family in his school. 

4. Write why you think this person has this quality or the qualities. 

(a) Anil wanted to do something very different and something no one has thought of before. He decided to start a special travel services for old people/ senior citizens.

Ans : Positivity, Confidence

(b) Rakesh loves playing outdoors. He used to spend his evenings with his friends, playing games. But, he had seen that many of his friends didn’t like playing outdoors because they didn’t feel safe. He decided to open a playground for children of all ages, with proper security. He found an unused playground, got permission to use it and asked his friends to help him clean it. He hired a security guard for the playground. He charged a small fee for people who wanted to play. Both parents and children liked his idea, and started playing there regularly. His business helped children who would not play outdoor before.

Ans : Open to Trial and Error

(c) Radhika was a cook in a small restaurant in her area. She made enough money to support her  husband and children. She decided to start her own food stall to sell Punjabi food. She would make special parathas. A few days after starting her business, the police came and told her that she was not allowed to run her stall in the area. Radhika did not give up. She started a Tiffin service through which she would deliver fresh food to people.

Ans : Positivity, Confidence.

5. Do you think you have the qualities of an entrepreneur in you? If yes, give examples when you have shown these qualities.

Ans : Yes,

i) I am confident while solving my assignments.

ii) I  use creative and innovative ideas while making science projects.

iii) I have patience and wait for my turn 

iv) I always takes challenges in positive ways.

6. Read the story of Sushma, the Toy Maker once again and fill in the boxes mentioning the various qualities that Sushma might have possessed as an entrepreneur

Ans : i) Hardworking, Never Giving Up and Perseverance

ii) Positivity

iii) Confidence

iv) Creativity and Innovation

7. List any four characteristics of entrepreneurship.

Ans : i. Ability to take up risks

ii. Believe in hard work and discipline

iii. Adpatable and flexible to achieve the goals of enhancing quality and customer satisfaction

iv . Knowledge of the product and services and their need or demand in the market

v . Financial literacy and money management skills

vi. Effective planning and execution.

8. List any two characteristics of wage employment.

Ans : i) Risk in job

ii) Not having a fixed earning.

9. Name any one factor that is common to both entrepreneurship and wage employment on contract basis.

Ans: They can be terminated if their performance / work is not satisfiable 

10. What are the 3 types of business activities? Explain with examples.

Ans: Three types of business activities:

• Product business

• Service business

• Hybrid business

Product business

A business where a seller and buyer exchange an item, which can be seen and touched, is called a product based business. For example, a Sports Shop.

Service business

A business where a seller helps the buyer to finish some work. For example, a cricket coaching center.

Hybrid business

A hybrid is the one where the business is doing both selling product and selling services. For example, Rahul starting a sports academy for coaching and selling sports equipment.

11. What are the key differences between product- and service-based businesses?

Ans : Product business

A business where a seller and buyer exchange an item, which can be seen and touched, is called a product based business. For example, a Sports Shop.

Service business

A business where a seller helps the buyer to finish some work. For example, a cricket coaching center.

12. If you had a choice to start a business of your own, which business will you start (include in your reply the product or service that you would like to take up)? Why do you want to start this type of business?

Ans : Cyber-Cafe because I have a good knowledge of Internet and I would like to provide service like filling online forms, download hall tickets, etc.

13. What is the meaning of manufacturing and trading based business?

Ans : 

Manufacturing businesses

These are the businesses that make a product and sell it. Products are usually made in factories.

Trade businesses

These businesses buy and sell a product. They also transport the product from the factory to warehouses and then finally to shops near the customers.

14. My customers are not buying my food product because they do not like the flavour of it. What step of the business should I follow next?

Ans : I will take a feedback about the flavor of my food and work hard on it to improve its quality and will also focus on the needs of the customers that which flavor they like. 

15. Write the four steps of entrepreneurship development. Give one example.

Ans : Idea :

The first step is to come up with a business idea. A business idea could be based on

(a) Something you are interested in doing (For example, making Dosa)

(b) A need you see in the market (For example, Tasty food next to the station)

Getting money and material :

Once you have the idea, you can start on a small scale with some money which will help you in buying basic material.

Understanding customer needs:

Once you start selling, you will find out what your customer likes and wants. You will also find out what your customer does not like during this stage.

Improving Product/ service:

You can use this knowledge of what your customer likes and does not like

to improve your product. (For example, Prem’s customers liked variety)