Topic 1: Meaning of Entrepreneurship
Q1. A student notices that many classmates struggle to find affordable healthy snacks during school hours and decides to create a small snack service. Match the entrepreneurial element with its role.
| Column I | Column II |
| A. Opportunity recognition | 1. Identifying an unmet need |
| B. Value creation | 2. Offering something useful to customers |
| C. Risk-taking | 3. Accepting uncertainty about the outcome |
| D. Problem-solving | 4. Finding a practical response to a difficulty |
Options:
A. A–1, B–2, C–3, D–4
B. A–2, B–1, C–4, D–3
C. A–3, B–4, C–1, D–2
D. A–4, B–3, C–2, D–1
Q2. Riya has a business idea but first studies whether customers actually need it, whether competitors exist and whether she can provide it. Match each activity with its entrepreneurial purpose.
| Column I | Column II |
| A. Customer research | 1. Understanding potential buyers |
| B. Competitor study | 2. Understanding existing alternatives |
| C. Feasibility assessment | 3. Checking whether the idea can practically work |
| D. Entrepreneurship | 4. Converting an opportunity into useful economic activity |
Options:
A. A–2, B–3, C–1, D–4
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q3. A young entrepreneur changes her product after receiving complaints from customers instead of continuing with the original design. Match the behaviour with the idea it demonstrates.
| Column I | Column II |
| A. Adaptability | 1. Changing according to new information |
| B. Customer orientation | 2. Paying attention to customer needs |
| C. Innovation | 3. Introducing a better or different solution |
| D. Persistence | 4. Continuing efforts despite difficulties |
Options:
A. A–3, B–4, C–2, D–1
B. A–4, B–3, C–1, D–2
C. A–1, B–2, C–3, D–4
D. A–2, B–1, C–4, D–3
Q4. Two students start businesses. One copies an existing product exactly, while the other identifies a local problem and develops a new solution. Which matching best explains the entrepreneurial difference?
| Column I | Column II |
| A. Identifying a problem | 1. Starting point for opportunity creation |
| B. Innovation | 2. Developing a new or improved solution |
| C. Copying without improvement | 3. Limited evidence of entrepreneurial innovation |
| D. Customer value | 4. Benefit received by users |
Options:
A. A–2, B–1, C–4, D–3
B. A–3, B–4, C–1, D–2
C. A–4, B–3, C–2, D–1
D. A–1, B–2, C–3, D–4
Q5. An entrepreneur has limited money but carefully chooses where to spend it so that the most important business activity receives priority. Match the element with its implication.
| Column I | Column II |
| A. Limited resources | 1. Require choices among alternatives |
| B. Prioritisation | 2. Directing resources to important activities |
| C. Entrepreneurship | 3. Organising action around an opportunity |
| D. Opportunity cost | 4. Value of the next best alternative forgone |
Options:
A. A–1, B–2, C–3, D–4
B. A–3, B–1, C–4, D–2
C. A–2, B–4, C–1, D–3
D. A–4, B–3, C–2, D–1
Q6. A business owner continues improving a product after its first version receives weak customer response. Match each action with its meaning.
| Column I | Column II |
| A. Learning from feedback | 1. Using customer information for improvement |
| B. Persistence | 2. Continuing effort |
| C. Product improvement | 3. Making the offering more useful |
| D. Entrepreneurial decision | 4. Choosing a course of action under uncertainty |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q7. A village entrepreneur starts a service that creates work for local people while solving a community problem. Match the outcome with the entrepreneurial contribution.
| Column I | Column II |
| A. Local employment | 1. Creation of work opportunities |
| B. Problem-solving | 2. Addressing an existing difficulty |
| C. Value creation | 3. Providing useful benefits |
| D. Enterprise | 4. Organised economic activity built around an opportunity |
Options:
A. A–3, B–1, C–4, D–2
B. A–4, B–3, C–2, D–1
C. A–1, B–2, C–3, D–4
D. A–2, B–4, C–1, D–3
Topic 2: Resources Required to Start a Business
Q8. A student wants to start a small online stationery business. She needs money, people to pack orders, storage space and an internet-based ordering system. Match each resource with its use.
| Column I | Column II |
| A. Financial resource | 1. Funds needed for business activities |
| B. Human resource | 2. People performing business tasks |
| C. Physical resource | 3. Space and equipment used in operations |
| D. Technological resource | 4. Digital tools supporting business activities |
Options:
A. A–2, B–1, C–4, D–3
B. A–1, B–2, C–3, D–4
C. A–4, B–3, C–1, D–2
D. A–3, B–4, C–2, D–1
Q9. A business has enough money but cannot meet orders because it lacks trained workers. What does this situation demonstrate?
| Column I | Column II |
| A. Financial sufficiency | 1. Availability of required funds |
| B. Human-resource constraint | 2. Shortage of capable workers |
| C. Resource complementarity | 3. Different resources may need to work together |
| D. Production limitation | 4. Inability to produce enough output |
Options:
A. A–1, B–2, C–3, D–4
B. A–3, B–4, C–1, D–2
C. A–2, B–1, C–4, D–3
D. A–4, B–3, C–2, D–1
Q10. An entrepreneur chooses to rent equipment rather than purchase it because the business is still uncertain. Match the decision with its reasoning.
| Column I | Column II |
| A. Renting equipment | 1. Avoiding a large immediate purchase |
| B. Uncertain demand | 2. Difficulty in predicting future sales |
| C. Resource flexibility | 3. Ability to adjust resource use |
| D. Financial planning | 4. Considering funds before making decisions |
Options:
A. A–2, B–3, C–4, D–1
B. A–4, B–1, C–2, D–3
C. A–1, B–2, C–3, D–4
D. A–3, B–4, C–1, D–2
Q11. A business owner buys an expensive machine although a cheaper machine can perform the required task equally well. Match the economic implication.
| Column I | Column II |
| A. Unnecessary expenditure | 1. Use of funds without sufficient benefit |
| B. Resource allocation | 2. Deciding where resources should be used |
| C. Cost-conscious decision | 3. Comparing cost with expected usefulness |
| D. Business efficiency | 4. Achieving intended output with suitable resource use |
Options:
A. A–2, B–1, C–4, D–3
B. A–3, B–4, C–1, D–2
C. A–4, B–3, C–2, D–1
D. A–1, B–2, C–3, D–4
Q12. A food business has modern equipment but no worker knows how to operate it properly. Match the situation with the appropriate interpretation.
| Column I | Column II |
| A. Physical resource | 1. Equipment available to the business |
| B. Human skill | 2. Ability needed to use resources effectively |
| C. Training | 3. Process of developing required capabilities |
| D. Underutilisation | 4. Resource not being used to its potential |
Options:
A. A–1, B–2, C–3, D–4
B. A–4, B–3, C–2, D–1
C. A–2, B–4, C–1, D–3
D. A–3, B–1, C–4, D–2
Q13. A start-up initially operates from home, uses free digital tools and hires workers only when necessary. Match the strategy with its likely purpose.
| Column I | Column II |
| A. Home-based operation | 1. Reducing initial physical-space costs |
| B. Free digital tools | 2. Limiting technology expenditure |
| C. Flexible hiring | 3. Adjusting labour use according to need |
| D. Resource conservation | 4. Avoiding unnecessary use of scarce resources |
Options:
A. A–3, B–4, C–1, D–2
B. A–1, B–2, C–3, D–4
C. A–2, B–1, C–4, D–3
D. A–4, B–3, C–2, D–1
Q14. A business expands too quickly and spends most of its funds on resources before confirming customer demand. Match each consequence with its explanation.
| Column I | Column II |
| A. Premature expansion | 1. Expansion before sufficient evidence of demand |
| B. Cash pressure | 2. Difficulty meeting financial requirements |
| C. Poor resource planning | 3. Resources committed without adequate evaluation |
| D. Business risk | 4. Possibility of an unfavourable outcome |
Options:
A. A–2, B–3, C–4, D–1
B. A–4, B–1, C–2, D–3
C. A–1, B–2, C–3, D–4
D. A–3, B–4, C–1, D–2
Topic 3: Entrepreneurial Ideas and Opportunities
Q15. A student notices that elderly people in her locality find online government forms difficult to complete. She considers offering assistance. Match each step with its purpose.
| Column I | Column II |
| A. Identifying the problem | 1. Recognising a difficulty faced by people |
| B. Target customers | 2. People likely to need the service |
| C. Opportunity | 3. Possibility of creating useful economic activity |
| D. Market research | 4. Collecting information about customer needs |
Options:
A. A–2, B–3, C–1, D–4
B. A–4, B–1, C–2, D–3
C. A–1, B–2, C–3, D–4
D. A–3, B–4, C–1, D–2
Q16. A start-up receives strong customer interest but discovers that producing the product would be too expensive. Match the finding with its implication.
| Column I | Column II |
| A. Customer interest | 1. Evidence of potential demand |
| B. High production cost | 2. Threat to financial feasibility |
| C. Feasibility | 3. Assessment of whether an idea can practically work |
| D. Opportunity evaluation | 4. Judging an idea before committing resources |
Options:
A. A–3, B–4, C–2, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–3, C–1, D–2
D. A–2, B–1, C–4, D–3
Q17. Before launching a product, an entrepreneur interviews potential customers and studies competing products. Match each activity with the information it provides.
| Column I | Column II |
| A. Customer interviews | 1. Direct information about customer preferences |
| B. Competitor analysis | 2. Information about existing alternatives |
| C. Demand assessment | 3. Estimate of potential customer interest |
| D. Product differentiation | 4. Identifying how an offering can be distinct |
Options:
A. A–1, B–2, C–3, D–4
B. A–3, B–4, C–1, D–2
C. A–2, B–1, C–4, D–3
D. A–4, B–3, C–2, D–1
Q18. A business idea is popular among students but has very few potential customers in a particular village. Match the concepts.
| Column I | Column II |
| A. General popularity | 1. Interest that may exist in a broader market |
| B. Local demand | 2. Demand within the specific target area |
| C. Target market | 3. Specific group the business intends to serve |
| D. Market mismatch | 4. Difference between an idea and local customer needs |
Options:
A. A–4, B–3, C–2, D–1
B. A–1, B–2, C–3, D–4
C. A–2, B–4, C–1, D–3
D. A–3, B–1, C–4, D–2
Q19. An entrepreneur creates a small prototype and gives it to a few customers before investing heavily. Match the action with its purpose.
| Column I | Column II |
| A. Prototype | 1. Early version of a product |
| B. Testing | 2. Checking how the product performs |
| C. Customer feedback | 3. Information for improvement |
| D. Risk reduction | 4. Limiting possible loss before larger commitment |
Options:
A. A–2, B–3, C–4, D–1
B. A–3, B–4, C–1, D–2
C. A–1, B–2, C–3, D–4
D. A–4, B–1, C–2, D–3
Q20. A product solves a genuine problem but customers are unwilling to pay its proposed price. Match the finding with the appropriate interpretation.
| Column I | Column II |
| A. Customer problem | 1. Evidence of a genuine need |
| B. Willingness to pay | 2. Customer acceptance of the price |
| C. Commercial opportunity | 3. Possibility of creating sustainable economic activity |
| D. Pricing problem | 4. Price may not fit customer expectations or ability |
Options:
A. A–1, B–2, C–3, D–4
B. A–4, B–1, C–2, D–3
C. A–3, B–4, C–1, D–2
D. A–2, B–3, C–4, D–1
Q21. A start-up changes its product after research shows that customers value convenience more than additional features. Match the entrepreneurial response.
| Column I | Column II |
| A. Market research | 1. Source of information for decisions |
| B. Customer priority | 2. Benefit customers value most |
| C. Product adaptation | 3. Changing the product according to evidence |
| D. Opportunity refinement | 4. Improving the original business idea |
Options:
A. A–3, B–1, C–4, D–2
B. A–1, B–2, C–3, D–4
C. A–4, B–3, C–2, D–1
D. A–2, B–4, C–1, D–3
Topic 4: Case Studies of Successful Entrepreneurs
Q22. A successful entrepreneur faced repeated rejection before finding a workable business model. Match the lesson with the situation.
| Column I | Column II |
| A. Persistence | 1. Continuing despite setbacks |
| B. Learning from failure | 2. Using unsuccessful outcomes to improve |
| C. Adaptation | 3. Changing strategy when conditions require it |
| D. Entrepreneurial journey | 4. Process involving uncertainty, decisions and learning |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q23. An entrepreneur succeeds by noticing a need that established businesses had ignored. Match the case element.
| Column I | Column II |
| A. Unmet need | 1. Requirement not adequately served |
| B. Opportunity recognition | 2. Identifying the potential for action |
| C. Innovation | 3. Creating or improving a solution |
| D. Market gap | 4. Space between existing supply and customer needs |
Options:
A. A–3, B–4, C–1, D–2
B. A–4, B–3, C–2, D–1
C. A–1, B–2, C–3, D–4
D. A–2, B–1, C–4, D–3
Q24. A case study shows that an entrepreneur began with limited resources and gradually expanded after gaining customers. Match the behaviour with the lesson.
| Column I | Column II |
| A. Starting small | 1. Limiting initial commitment |
| B. Customer growth | 2. Increasing demand for the offering |
| C. Gradual expansion | 3. Increasing scale as conditions permit |
| D. Resource constraint | 4. Limitation caused by scarce resources |
Options:
A. A–1, B–2, C–3, D–4
B. A–2, B–4, C–1, D–3
C. A–3, B–1, C–4, D–2
D. A–4, B–3, C–2, D–1
Q25. A successful entrepreneur changes the business model after technology changes customer behaviour. Match the case element.
| Column I | Column II |
| A. Technological change | 1. Change affecting how business can operate |
| B. Customer behaviour | 2. How consumers choose and use products |
| C. Business-model adaptation | 3. Changing how value is delivered or earned |
| D. Responsiveness | 4. Ability to react to changing conditions |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q26. An entrepreneur studies previous unsuccessful attempts before launching a revised product. Match the lesson.
| Column I | Column II |
| A. Failure analysis | 1. Studying why an attempt did not succeed |
| B. Revised strategy | 2. Modified approach based on learning |
| C. Experience | 3. Knowledge gained through previous actions |
| D. Risk management | 4. Taking steps to reduce possible adverse outcomes |
Options:
A. A–1, B–2, C–3, D–4
B. A–3, B–4, C–1, D–2
C. A–2, B–1, C–4, D–3
D. A–4, B–3, C–2, D–1
Q27. A case study shows that a founder did not simply imitate another business but modified an existing idea for a different customer group. Match the concept.
| Column I | Column II |
| A. Imitation | 1. Reproducing an existing idea |
| B. Adaptation | 2. Modifying an idea for a different context |
| C. Customer segment | 3. Specific group of customers |
| D. Entrepreneurial innovation | 4. Creating improved value through a new or modified approach |
Options:
A. A–4, B–3, C–2, D–1
B. A–1, B–2, C–3, D–4
C. A–2, B–4, C–1, D–3
D. A–3, B–1, C–4, D–2
Q28. A successful entrepreneur is praised for making decisions despite incomplete information. Match the concepts.
| Column I | Column II |
| A. Uncertainty | 1. Future outcomes cannot be known with certainty |
| B. Decision-making | 2. Choosing among possible actions |
| C. Calculated risk | 3. Considering possible outcomes before acting |
| D. Entrepreneurial judgement | 4. Using available information to choose a course of action |
Options:
A. A–1, B–2, C–3, D–4
B. A–4, B–1, C–2, D–3
C. A–3, B–4, C–1, D–2
D. A–2, B–3, C–4, D–1
Topic 5: Creative Destruction
Q29. A new technology makes an older technology less useful, causing consumers to shift toward the newer product. Match the concepts.
| Column I | Column II |
| A. New technology | 1. New method or product replacing an older approach |
| B. Older technology | 2. Existing technology losing relevance |
| C. Consumer shift | 3. Change in purchasing or usage patterns |
| D. Creative destruction | 4. Innovation transforming existing economic activity |
Options:
A. A–1, B–2, C–3, D–4
B. A–3, B–4, C–1, D–2
C. A–2, B–1, C–4, D–3
D. A–4, B–3, C–2, D–1
Q30. A digital service reduces demand for an older form of service but creates new jobs in technology. Match the effects.
| Column I | Column II |
| A. Declining old activity | 1. Reduction in demand for an existing method |
| B. New activity | 2. Economic activity created by innovation |
| C. Labour transition | 3. Movement of workers toward new skill requirements |
| D. Creative destruction | 4. Replacement and creation occurring through innovation |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q31. A company continues using an outdated production method even though competitors have adopted a faster technology. Match the likely implication.
| Column I | Column II |
| A. Outdated technology | 1. Technology that may no longer be competitive |
| B. Innovation pressure | 2. Need to respond to changing methods |
| C. Competitive disadvantage | 3. Weaker position compared with more efficient rivals |
| D. Adaptation | 4. Adjusting to technological or market change |
Options:
A. A–4, B–3, C–2, D–1
B. A–1, B–2, C–3, D–4
C. A–2, B–4, C–1, D–3
D. A–3, B–1, C–4, D–2
Q32. A new business model allows customers to access a service more conveniently, reducing demand for some traditional providers. Match the concepts.
| Column I | Column II |
| A. New business model | 1. Different way of delivering or earning value |
| B. Convenience | 2. Benefit that reduces customer effort or time |
| C. Traditional provider | 3. Existing supplier affected by change |
| D. Market transformation | 4. Change in the way economic activity is organised |
Options:
A. A–1, B–2, C–3, D–4
B. A–2, B–3, C–4, D–1
C. A–3, B–4, C–1, D–2
D. A–4, B–1, C–2, D–3
Q33. A factory introduces automation. Some tasks disappear, but new technical tasks emerge. Match the effects.
| Column I | Column II |
| A. Automation | 1. Use of technology to perform tasks |
| B. Job displacement | 2. Reduction in some existing work roles |
| C. New skill demand | 3. Need for capabilities suited to new tasks |
| D. Economic transformation | 4. Broader change in production and employment patterns |
Options:
A. A–2, B–3, C–4, D–1
B. A–4, B–1, C–2, D–3
C. A–1, B–2, C–3, D–4
D. A–3, B–4, C–1, D–2
Q34. A new product succeeds because it offers greater value to consumers than an older product. Match the concepts.
| Column I | Column II |
| A. Innovation | 1. New or improved product or method |
| B. Consumer value | 2. Benefit perceived by customers |
| C. Market competition | 3. Rivalry among businesses for customers |
| D. Replacement | 4. Older offering losing demand as a new one gains acceptance |
Options:
A. A–3, B–4, C–1, D–2
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–2, B–3, C–4, D–1
Q35. A new technology initially causes disruption but eventually creates more efficient ways of producing and consuming. Match the interpretation.
| Column I | Column II |
| A. Short-term disruption | 1. Immediate adjustment difficulties |
| B. Long-term adaptation | 2. Adjustment to new economic conditions |
| C. Efficiency improvement | 3. Better use of resources to achieve output |
| D. Creative destruction | 4. Economic transformation through innovation |
Options:
A. A–1, B–2, C–3, D–4
B. A–4, B–3, C–2, D–1
C. A–2, B–1, C–4, D–3
D. A–3, B–4, C–1, D–2
Topic 6: Start-up Ecosystem in India
Q36. A new entrepreneur receives guidance from an experienced professional, funding from an investor and workspace from an incubator. Match the ecosystem participant with its role.
| Column I | Column II |
| A. Mentor | 1. Provides guidance and experience |
| B. Investor | 2. Provides financial support |
| C. Incubator | 3. Supports early-stage ventures |
| D. Entrepreneur | 4. Develops and operates the business |
Options:
A. A–2, B–1, C–4, D–3
B. A–1, B–2, C–3, D–4
C. A–4, B–3, C–1, D–2
D. A–3, B–4, C–2, D–1
Q37. A college helps students develop ideas by providing training, mentors and connections to business networks. Match each support with its role.
| Column I | Column II |
| A. Training | 1. Development of relevant knowledge and skills |
| B. Mentoring | 2. Guidance from experienced individuals |
| C. Networking | 3. Connecting entrepreneurs with useful people |
| D. Entrepreneurship education | 4. Building understanding of starting and managing ventures |
Options:
A. A–1, B–2, C–3, D–4
B. A–3, B–4, C–1, D–2
C. A–2, B–1, C–4, D–3
D. A–4, B–3, C–2, D–1
Q38. A start-up has a promising idea but lacks funds and business guidance. Match the ecosystem support that could address each need.
| Column I | Column II |
| A. Funding | 1. Helps meet financial requirements |
| B. Mentorship | 2. Provides experienced guidance |
| C. Incubation | 3. Supports development of an early-stage venture |
| D. Networking | 4. Helps create useful business connections |
Options:
A. A–4, B–3, C–2, D–1
B. A–1, B–2, C–3, D–4
C. A–3, B–4, C–1, D–2
D. A–2, B–1, C–4, D–3
Q39. A start-up attends an entrepreneurship event and meets an investor, a mentor and potential partners. Match the outcome.
| Column I | Column II |
| A. Investor connection | 1. Possible access to finance |
| B. Mentor connection | 2. Possible access to advice |
| C. Partnership connection | 3. Possible business collaboration |
| D. Ecosystem event | 4. Platform for interaction among participants |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q40. A start-up receives funding but fails because the founders lack market knowledge. Match the lesson.
| Column I | Column II |
| A. Funding | 1. Financial resource |
| B. Market knowledge | 2. Understanding customers and market conditions |
| C. Ecosystem support | 3. Combination of different forms of assistance |
| D. Start-up success | 4. Cannot be guaranteed by one resource alone |
Options:
A. A–1, B–2, C–3, D–4
B. A–3, B–4, C–1, D–2
C. A–2, B–1, C–4, D–3
D. A–4, B–3, C–2, D–1
Q41. An incubator helps an entrepreneur refine a business model before entering the market. Match the concepts.
| Column I | Column II |
| A. Incubator | 1. Organisation or programme supporting early-stage ventures |
| B. Business model | 2. How a business creates and captures value |
| C. Refinement | 3. Improving an idea using information and feedback |
| D. Market entry | 4. Beginning to offer the product or service to customers |
Options:
A. A–3, B–1, C–4, D–2
B. A–1, B–2, C–3, D–4
C. A–4, B–3, C–2, D–1
D. A–2, B–4, C–1, D–3
Q42. A strong start-up ecosystem connects entrepreneurs with educational institutions, finance providers, mentors and support organisations. Match the component.
| Column I | Column II |
| A. Educational institution | 1. Knowledge and skill development |
| B. Finance provider | 2. Financial support |
| C. Mentor | 3. Experience-based guidance |
| D. Support organisation | 4. Assistance for enterprise development |
Options:
A. A–2, B–3, C–4, D–1
B. A–4, B–1, C–2, D–3
C. A–1, B–2, C–3, D–4
D. A–3, B–4, C–1, D–2
Topic 7: Government Initiatives Supporting Start-ups
Q43. A government programme provides training to young people interested in entrepreneurship. Match the support with its likely purpose.
| Column I | Column II |
| A. Skill development | 1. Building useful capabilities |
| B. Entrepreneurship training | 2. Preparing people for enterprise-related activities |
| C. Financial support | 3. Helping meet funding requirements |
| D. Digital support | 4. Improving access to digital tools or systems |
Options:
A. A–1, B–2, C–3, D–4
B. A–3, B–4, C–1, D–2
C. A–2, B–1, C–4, D–3
D. A–4, B–3, C–2, D–1
Q44. A government initiative simplifies access to information and support for entrepreneurs through digital systems. Match the effect.
| Column I | Column II |
| A. Digital platform | 1. Technology-based channel for access |
| B. Information access | 2. Ability to obtain relevant guidance or details |
| C. Reduced transaction difficulty | 3. Easier completion of certain processes |
| D. Entrepreneurial support | 4. Assistance that can help business development |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q45. A government-backed programme provides support to innovative business ideas, but the entrepreneur must still demonstrate that the idea is viable. Match the concepts.
| Column I | Column II |
| A. Government support | 1. Assistance that can reduce certain barriers |
| B. Innovation support | 2. Assistance directed toward new or improved ideas |
| C. Viability | 3. Practical ability of an idea to work |
| D. Entrepreneurial responsibility | 4. Need to make sound decisions despite support |
Options:
A. A–3, B–4, C–1, D–2
B. A–1, B–2, C–3, D–4
C. A–4, B–3, C–2, D–1
D. A–2, B–1, C–4, D–3
Q46. A government programme improves access to finance for small enterprises. Match each element.
| Column I | Column II |
| A. Credit support | 1. Easier access to borrowed funds |
| B. Small enterprise | 2. Business operating at relatively small scale |
| C. Financial barrier | 3. Difficulty obtaining necessary funds |
| D. Government intervention | 4. Public action intended to address an economic or social need |
Options:
A. A–1, B–2, C–3, D–4
B. A–4, B–3, C–2, D–1
C. A–2, B–1, C–4, D–3
D. A–3, B–4, C–1, D–2
Q47. A start-up receives training and information from a public initiative but still fails to attract customers. Match the lesson.
| Column I | Column II |
| A. Training | 1. Can improve skills |
| B. Information | 2. Can improve decision-making |
| C. Customer demand | 3. Remains important for business viability |
| D. Government initiative | 4. Can provide support but cannot guarantee success |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q48. A public programme encourages innovation while another helps entrepreneurs develop relevant skills. Match the support.
| Column I | Column II |
| A. Innovation promotion | 1. Encouragement of new or improved solutions |
| B. Skill development | 2. Development of capabilities |
| C. Enterprise support | 3. Assistance for starting or developing businesses |
| D. Human-capital development | 4. Improvement in people’s productive abilities |
Options:
A. A–4, B–3, C–2, D–1
B. A–1, B–2, C–3, D–4
C. A–2, B–4, C–1, D–3
D. A–3, B–1, C–4, D–2
Q49. An entrepreneur uses government information to compare available support programmes before selecting one. Match the reasoning.
| Column I | Column II |
| A. Information gathering | 1. Collecting relevant facts |
| B. Programme comparison | 2. Evaluating alternatives |
| C. Eligibility | 3. Conditions that determine whether support can be accessed |
| D. Informed decision | 4. Choice based on relevant information |
Options:
A. A–1, B–2, C–3, D–4
B. A–3, B–4, C–1, D–2
C. A–2, B–1, C–4, D–3
D. A–4, B–3, C–2, D–1
Topic 8: MSMEs and the Unorganised Sector
Q50. A small manufacturing unit employs local workers and produces goods for nearby markets. Match the characteristics.
| Column I | Column II |
| A. MSME | 1. Micro, Small and Medium Enterprise |
| B. Local employment | 2. Work opportunities created in the area |
| C. Small-scale production | 3. Production undertaken at relatively smaller scale |
| D. Local market | 4. Market serving customers in a particular area |
Options:
A. A–1, B–2, C–3, D–4
B. A–2, B–3, C–4, D–1
C. A–3, B–4, C–1, D–2
D. A–4, B–1, C–2, D–3
Q51. A small enterprise struggles to obtain affordable finance and modern technology. Match the challenge.
| Column I | Column II |
| A. Finance constraint | 1. Difficulty obtaining necessary funds |
| B. Technology constraint | 2. Difficulty accessing suitable modern technology |
| C. Productivity challenge | 3. Difficulty achieving greater output from available resources |
| D. Competitiveness | 4. Ability to compete effectively with other producers |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q52. A worker provides services in a small informal activity without the formal structure associated with an organised enterprise. Match the concepts carefully.
| Column I | Column II |
| A. Unorganised sector | 1. Economic activities often operating with less formal structure |
| B. Informal activity | 2. Activity outside many formal organisational arrangements |
| C. Livelihood | 3. Means through which a person earns a living |
| D. Unorganised does not mean illegal | 4. Informality and illegality are not identical concepts |
Options:
A. A–4, B–3, C–2, D–1
B. A–1, B–2, C–3, D–4
C. A–2, B–4, C–1, D–3
D. A–3, B–1, C–4, D–2
Q53. A small enterprise provides employment but has difficulty adopting new technology because of limited funds. Match the relationship.
| Column I | Column II |
| A. Employment generation | 1. Creation of work opportunities |
| B. Limited finance | 2. Constraint on investment capacity |
| C. Technology adoption | 3. Introduction or use of improved technology |
| D. Enterprise challenge | 4. Difficulty that may restrict growth or efficiency |
Options:
A. A–1, B–2, C–3, D–4
B. A–4, B–3, C–2, D–1
C. A–2, B–1, C–4, D–3
D. A–3, B–4, C–1, D–2
Q54. An MSME produces a useful product but has difficulty reaching customers outside its local area. Match the issue.
| Column I | Column II |
| A. Production capability | 1. Ability to produce goods or services |
| B. Market access | 2. Ability to reach buyers |
| C. Distribution challenge | 3. Difficulty moving or delivering products to customers |
| D. Growth constraint | 4. Factor limiting expansion |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q55. A small enterprise trains workers and adopts better equipment to improve output. Match the actions.
| Column I | Column II |
| A. Worker training | 1. Improvement of human capabilities |
| B. Better equipment | 2. Improvement of physical/technological resources |
| C. Productivity | 3. Output produced relative to resources used |
| D. Capacity building | 4. Strengthening the ability to perform activities effectively |
Options:
A. A–3, B–4, C–1, D–2
B. A–1, B–2, C–3, D–4
C. A–4, B–3, C–2, D–1
D. A–2, B–1, C–4, D–3
Q56. A small enterprise depends heavily on one local buyer. When that buyer leaves, the enterprise faces serious difficulty. Match the situation.
| Column I | Column II |
| A. Customer concentration | 1. Heavy dependence on a small number of buyers |
| B. Market risk | 2. Possibility of loss due to market conditions |
| C. Diversification | 3. Developing more than one source of demand |
| D. Business resilience | 4. Ability to withstand difficulties |
Options:
A. A–1, B–2, C–3, D–4
B. A–3, B–4, C–1, D–2
C. A–2, B–1, C–4, D–3
D. A–4, B–3, C–2, D–1
Topic 9: Business Plan
Q57. An entrepreneur prepares a written plan before launching a business. Match each component with its purpose.
| Column I | Column II |
| A. Business objective | 1. What the business aims to achieve |
| B. Target market | 2. Customers the business intends to serve |
| C. Resource plan | 3. Resources needed for operations |
| D. Financial plan | 4. Expected financial requirements and outcomes |
Options:
A. A–1, B–2, C–3, D–4
B. A–2, B–3, C–4, D–1
C. A–3, B–4, C–1, D–2
D. A–4, B–1, C–2, D–3
Q58. A business plan identifies students as its target customers and studies their preferences before setting its product features. Match the components.
| Column I | Column II |
| A. Target customer | 1. Specific group intended to be served |
| B. Customer preference | 2. Features or qualities customers value |
| C. Product planning | 3. Deciding what the offering should provide |
| D. Market analysis | 4. Study of customers and market conditions |
Options:
A. A–3, B–4, C–1, D–2
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–2, B–3, C–4, D–1
Q59. A business plan estimates how many units must be sold and what costs will be incurred. Match the financial planning elements.
| Column I | Column II |
| A. Sales estimate | 1. Expected quantity or value of sales |
| B. Cost estimate | 2. Expected expenditure |
| C. Revenue projection | 3. Expected income from sales |
| D. Profit projection | 4. Expected difference between revenue and relevant costs |
Options:
A. A–1, B–2, C–3, D–4
B. A–4, B–3, C–2, D–1
C. A–2, B–1, C–4, D–3
D. A–3, B–4, C–1, D–2
Q60. A business plan considers what might happen if demand is lower than expected. Match the elements.
| Column I | Column II |
| A. Risk assessment | 1. Identification and evaluation of possible problems |
| B. Lower demand | 2. Sales below expectations |
| C. Contingency thinking | 3. Considering alternative responses to adverse situations |
| D. Realistic planning | 4. Planning based on reasonable assumptions |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q61. An entrepreneur has an attractive idea but discovers through the business plan that the required resources are unavailable. Match the lesson.
| Column I | Column II |
| A. Attractive idea | 1. Idea that appears useful or appealing |
| B. Resource requirement | 2. Resources necessary for implementation |
| C. Feasibility issue | 3. Difficulty in putting the idea into practice |
| D. Business planning | 4. Process of examining important aspects before action |
Options:
A. A–3, B–1, C–4, D–2
B. A–1, B–2, C–3, D–4
C. A–4, B–3, C–2, D–1
D. A–2, B–4, C–1, D–3
Q62. A business plan shows that a product has demand but several competitors already offer similar products. Match the analysis.
| Column I | Column II |
| A. Demand | 1. Customer interest in the product |
| B. Competition | 2. Rival businesses offering alternatives |
| C. Differentiation | 3. Making the offering meaningfully distinct |
| D. Market strategy | 4. Planned approach to reaching and serving customers |
Options:
A. A–1, B–2, C–3, D–4
B. A–3, B–4, C–1, D–2
C. A–2, B–1, C–4, D–3
D. A–4, B–3, C–2, D–1
Q63. A business plan is revised after actual customer feedback differs from the original assumptions. Match the concepts.
| Column I | Column II |
| A. Original assumption | 1. Belief used while preparing the initial plan |
| B. Actual feedback | 2. Information obtained from real customers |
| C. Plan revision | 3. Modification of the earlier plan |
| D. Adaptive planning | 4. Updating plans as new evidence becomes available |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Topic 10: Profit and Loss
Q64. A shop earns ₹50,000 from sales and incurs ₹40,000 in relevant costs. Match the financial concepts.
| Column I | Column II |
| A. Revenue | 1. Money earned from sales |
| B. Cost | 2. Expenditure incurred in business |
| C. Profit | 3. Excess of revenue over relevant costs |
| D. Financial result | 4. Outcome after comparing revenue and costs |
Options:
A. A–1, B–2, C–3, D–4
B. A–2, B–3, C–4, D–1
C. A–3, B–4, C–1, D–2
D. A–4, B–1, C–2, D–3
Q65. A business increases sales but its costs rise even faster. Match the implications.
| Column I | Column II |
| A. Higher sales | 1. Increase in revenue if prices and quantities support it |
| B. Rising costs | 2. Increase in expenditure |
| C. Profit margin pressure | 3. Costs taking a larger share relative to revenue |
| D. Profitability | 4. Ability to generate profit from business activity |
Options:
A. A–3, B–4, C–1, D–2
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–2, B–3, C–4, D–1
Q66. A business sells 1,000 units at ₹100 each and incurs ₹80,000 in relevant costs. Match the reasoning.
| Column I | Column II |
| A. Sales quantity | 1. Number of units sold |
| B. Selling price | 2. Amount received per unit sold |
| C. Total revenue | 3. Sales quantity multiplied by selling price |
| D. Profit | 4. Total revenue minus relevant costs |
Options:
A. A–1, B–2, C–3, D–4
B. A–4, B–3, C–2, D–1
C. A–2, B–1, C–4, D–3
D. A–3, B–4, C–1, D–2
Q67. A shop reduces unnecessary expenditure without reducing the usefulness of its product. Match the likely effect.
| Column I | Column II |
| A. Cost reduction | 1. Lowering business expenditure |
| B. Unnecessary expenditure | 2. Spending that provides insufficient business benefit |
| C. Profit improvement | 3. Possible increase when costs fall while revenue remains suitable |
| D. Efficiency | 4. Better use of resources |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q68. A business earns ₹70,000 revenue but incurs ₹75,000 in relevant costs. Match the outcome.
| Column I | Column II |
| A. Revenue | 1. ₹70,000 |
| B. Cost | 2. ₹75,000 |
| C. Loss | 3. Excess of costs over revenue |
| D. Financial outcome | 4. Business has a negative result in this case |
Options:
A. A–4, B–3, C–2, D–1
B. A–1, B–2, C–3, D–4
C. A–2, B–4, C–1, D–3
D. A–3, B–1, C–4, D–2
Q69. A business considers lowering its price to increase sales. Match the factors it should evaluate.
| Column I | Column II |
| A. Lower price | 1. Reduction in amount charged per unit |
| B. Sales volume | 2. Quantity sold |
| C. Revenue effect | 3. Effect on total sales income |
| D. Profit effect | 4. Effect on the final difference between revenue and costs |
Options:
A. A–1, B–2, C–3, D–4
B. A–3, B–4, C–1, D–2
C. A–2, B–1, C–4, D–3
D. A–4, B–3, C–2, D–1
Q70. A business has high revenue but still reports a loss because its operating costs are very high. Match the lesson.
| Column I | Column II |
| A. High revenue | 1. Large amount generated from sales |
| B. High cost | 2. Large business expenditure |
| C. Loss | 3. Costs exceeding revenue |
| D. Business performance | 4. Should not be judged from sales alone |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Topic 11: Balance Components / Basic Financial Position
Q71. A business owns cash, equipment and a building but also owes money to a bank. Match the components.
| Column I | Column II |
| A. Cash owned by business | 1. Asset |
| B. Equipment owned | 2. Asset |
| C. Bank loan payable | 3. Liability |
| D. Building owned | 4. Asset |
Options:
A. A–1, B–2, C–3, D–4
B. A–2, B–3, C–4, D–1
C. A–3, B–4, C–1, D–2
D. A–4, B–1, C–2, D–3
Q72. A business purchases equipment using borrowed money. Match the changes.
| Column I | Column II |
| A. Equipment | 1. Asset acquired |
| B. Borrowed money | 2. Creates an obligation to repay |
| C. Liability | 3. Amount owed by the business |
| D. Financial position | 4. Relationship between resources owned and obligations |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q73. A business has valuable equipment but also has significant outstanding obligations. Match the concepts.
| Column I | Column II |
| A. Equipment | 1. Business resource owned |
| B. Outstanding obligation | 2. Amount still owed |
| C. Asset | 3. Resource controlled or owned by the business |
| D. Liability | 4. Obligation of the business |
Options:
A. A–1, B–2, C–3, D–4
B. A–4, B–3, C–2, D–1
C. A–2, B–1, C–4, D–3
D. A–3, B–4, C–1, D–2
Q74. An entrepreneur wants to understand the business’s financial position at a particular point in time. Match the information.
| Column I | Column II |
| A. Assets | 1. Resources owned or controlled |
| B. Liabilities | 2. Obligations owed |
| C. Financial position | 3. Overall position based on assets and obligations |
| D. Balance information | 4. Information helping compare what the business has and owes |
Options:
A. A–3, B–4, C–1, D–2
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–2, B–3, C–4, D–1
Q75. A business uses some of its cash to purchase equipment. Match the change.
| Column I | Column II |
| A. Cash | 1. Asset whose amount decreases in the transaction |
| B. Equipment | 2. Asset whose amount increases |
| C. Asset conversion | 3. One form of business asset changing into another |
| D. Liability | 4. Not necessarily created merely because an asset is purchased with existing cash |
Options:
A. A–1, B–2, C–3, D–4
B. A–2, B–3, C–4, D–1
C. A–3, B–4, C–1, D–2
D. A–4, B–1, C–2, D–3
Q76. A business takes a loan to expand its operations. Match the consequences.
| Column I | Column II |
| A. Loan received | 1. Increases available funds initially |
| B. Repayment obligation | 2. Liability created by borrowing |
| C. Business expansion | 3. Use of resources to increase scale or capacity |
| D. Financial responsibility | 4. Need to meet obligations arising from borrowing |
Options:
A. A–2, B–3, C–4, D–1
B. A–1, B–2, C–3, D–4
C. A–4, B–1, C–2, D–3
D. A–3, B–4, C–1, D–2
Q77. Two businesses have similar assets, but one has much larger outstanding loans. Match the comparison.
| Column I | Column II |
| A. Similar assets | 1. Comparable resources owned |
| B. Larger liabilities | 2. Greater obligations |
| C. Financial position | 3. Overall picture of resources and obligations |
| D. Borrowing level | 4. Extent to which the business has obligations from borrowed funds |
Options:
A. A–1, B–2, C–3, D–4
B. A–3, B–4, C–1, D–2
C. A–2, B–1, C–4, D–3
D. A–4, B–3, C–2, D–1
DETAILED ANSWER KEY
| Q | Correct Option | Correct Matching | Explanation |
| 1 | A | A–1, B–2, C–3, D–4 | The entrepreneur identifies an unmet need, creates value, accepts uncertainty and solves the problem. |
| 2 | B | A–1, B–2, C–3, D–4 | Customer research studies buyers, competitor study examines alternatives, feasibility checks practicality and entrepreneurship converts opportunity into activity. |
| 3 | C | A–1, B–2, C–3, D–4 | Changing after feedback shows adaptability; customer orientation focuses on users; innovation improves solutions; persistence means continuing. |
| 4 | D | A–1, B–2, C–3, D–4 | Identifying a problem can create an opportunity, innovation provides a solution, simple copying lacks innovation and customer value is the benefit received. |
| 5 | A | A–1, B–2, C–3, D–4 | Scarcity forces choices, prioritisation directs resources, entrepreneurship organises action and opportunity cost is the next-best alternative forgone. |
| 6 | B | A–1, B–2, C–3, D–4 | Feedback guides improvement, persistence means continuing, product improvement increases usefulness and entrepreneurial decisions occur under uncertainty. |
| 7 | C | A–1, B–2, C–3, D–4 | Local employment creates work, problem-solving addresses difficulty, value creation provides benefits and enterprise organises economic activity. |
| 8 | B | A–1, B–2, C–3, D–4 | Money is financial capital, people are human resources, space/equipment are physical resources and digital systems are technological resources. |
| 9 | A | A–1, B–2, C–3, D–4 | Having money does not remove a worker shortage; resources often complement one another and a shortage can restrict production. |
| 10 | C | A–1, B–2, C–3, D–4 | Renting avoids a large purchase, uncertain demand makes future sales difficult to predict, flexibility permits adjustment and planning considers available funds. |
| 11 | D | A–1, B–2, C–3, D–4 | Unnecessary spending uses funds without sufficient benefit; allocation decides resource use; cost-conscious decisions compare cost and usefulness. |
| 12 | A | A–1, B–2, C–3, D–4 | Equipment is physical, skills are human capabilities, training develops skills and unused capability represents underutilisation. |
| 13 | B | A–1, B–2, C–3, D–4 | Home operation reduces space costs, free tools limit technology expenditure, flexible hiring adjusts labour and conservation avoids waste. |
| 14 | C | A–1, B–2, C–3, D–4 | Expanding too early may occur before demand is confirmed; cash pressure affects finances; poor planning commits resources inadequately and creates risk. |
| 15 | C | A–1, B–2, C–3, D–4 | The problem is the difficulty, target customers are likely users, the opportunity is the potential activity and research gathers market information. |
| 16 | B | A–1, B–2, C–3, D–4 | Customer interest indicates possible demand, high costs threaten feasibility, feasibility checks practicality and opportunity evaluation precedes commitment. |
| 17 | A | A–1, B–2, C–3, D–4 | Interviews provide direct customer information, competitor analysis studies alternatives, demand assessment considers potential interest and differentiation makes the product distinct. |
| 18 | B | A–1, B–2, C–3, D–4 | Broad popularity is not necessarily local demand; target markets are specific customer groups and mismatch occurs when the idea does not fit local needs. |
| 19 | C | A–1, B–2, C–3, D–4 | A prototype is an early product, testing checks performance, feedback guides improvement and early testing can reduce the risk of large commitment. |
| 20 | D | A–1, B–2, C–3, D–4 | A genuine problem indicates need, willingness to pay concerns price acceptance, commercial opportunity concerns sustainable activity and pricing may be the problem. |
| 21 | B | A–1, B–2, C–3, D–4 | Research provides information, customer priority identifies valued benefits, adaptation changes the product and refinement improves the opportunity. |
| 22 | B | A–1, B–2, C–3, D–4 | Persistence continues effort, failure can provide learning, adaptation changes strategy and the entrepreneurial journey involves uncertainty and learning. |
| 23 | C | A–1, B–2, C–3, D–4 | An unmet need is inadequately served, opportunity recognition identifies potential, innovation creates solutions and a market gap reflects the difference between supply and need. |
| 24 | A | A–1, B–2, C–3, D–4 | Starting small limits initial commitment; customer growth indicates increasing demand; expansion can follow suitable conditions and resource constraints limit choices. |
| 25 | B | A–1, B–2, C–3, D–4 | Technology can alter business operations, customer behaviour affects choices, business-model adaptation changes value delivery and responsiveness means reacting to change. |
| 26 | A | A–1, B–2, C–3, D–4 | Failure analysis examines causes, revised strategy incorporates learning, experience comes from earlier actions and risk management considers adverse outcomes. |
| 27 | B | A–1, B–2, C–3, D–4 | Imitation reproduces an existing idea; adaptation changes it for a new context; a customer segment is a specific group; innovation creates improved value. |
| 28 | A | A–1, B–2, C–3, D–4 | Uncertainty concerns unknown outcomes, decision-making involves choices, calculated risk considers outcomes and judgement uses available information. |
| 29 | A | A–1, B–2, C–3, D–4 | New technology may replace older methods, consumers shift their choices and creative destruction transforms existing economic activity. |
| 30 | B | A–1, B–2, C–3, D–4 | Old activity may decline, new activity emerges, workers may need new skills and creative destruction involves both replacement and creation. |
| 31 | B | A–1, B–2, C–3, D–4 | Outdated technology may lose competitiveness; innovation creates pressure to change; failure to adapt can disadvantage a firm. |
| 32 | A | A–1, B–2, C–3, D–4 | A business model determines value delivery, convenience is a customer benefit, traditional providers may be affected and markets can transform. |
| 33 | C | A–1, B–2, C–3, D–4 | Automation uses technology, some roles may disappear, new skills may be required and production/employment patterns can change. |
| 34 | B | A–1, B–2, C–3, D–4 | Innovation introduces improvement, consumer value concerns benefits, competition involves rivalry and replacement can occur when customers shift. |
| 35 | A | A–1, B–2, C–3, D–4 | Innovation can cause immediate disruption, later adaptation occurs, efficiency may improve and creative destruction represents wider transformation. |
| 36 | B | A–1, B–2, C–3, D–4 | Mentors guide, investors provide finance, incubators support early-stage ventures and entrepreneurs operate the business. |
| 37 | A | A–1, B–2, C–3, D–4 | Training develops skills, mentoring provides guidance, networking creates connections and entrepreneurship education builds understanding of enterprise. |
| 38 | B | A–1, B–2, C–3, D–4 | Funding addresses finance, mentorship provides advice, incubation supports early ventures and networking creates connections. |
| 39 | B | A–1, B–2, C–3, D–4 | Investors may provide finance, mentors provide guidance, partners may collaborate and ecosystem events facilitate interaction. |
| 40 | A | A–1, B–2, C–3, D–4 | Funding is a financial resource; market knowledge concerns customers; ecosystem support can combine several forms of help; no single support guarantees success. |
| 41 | B | A–1, B–2, C–3, D–4 | Incubators support early ventures, business models explain value creation, refinement improves an idea and market entry begins customer-facing operations. |
| 42 | C | A–1, B–2, C–3, D–4 | Educational institutions develop knowledge, finance providers provide funds, mentors provide experience-based guidance and support organisations provide enterprise assistance. |
| 43 | A | A–1, B–2, C–3, D–4 | Skill development builds capabilities, entrepreneurship training prepares for enterprise, finance addresses funding and digital support improves technology access. |
| 44 | B | A–1, B–2, C–3, D–4 | Digital platforms provide access channels, information access improves knowledge, digital systems may reduce process difficulty and collectively provide support. |
| 45 | B | A–1, B–2, C–3, D–4 | Government support can reduce barriers, innovation support focuses on new ideas, viability concerns practicality and entrepreneurs remain responsible for decisions. |
| 46 | A | A–1, B–2, C–3, D–4 | Credit support improves access to borrowed funds, small enterprises operate at smaller scale, financial barriers restrict funds and government intervention addresses identified needs. |
| 47 | B | A–1, B–2, C–3, D–4 | Training may improve skills, information can improve decisions, demand remains essential and government support does not guarantee success. |
| 48 | B | A–1, B–2, C–3, D–4 | Innovation promotion encourages improved ideas, skill development builds capabilities, enterprise support assists businesses and human capital concerns productive abilities. |
| 49 | A | A–1, B–2, C–3, D–4 | Information is gathered first, programmes can be compared, eligibility determines access and informed decisions use relevant evidence. |
| 50 | A | A–1, B–2, C–3, D–4 | MSME refers to Micro, Small and Medium Enterprises; local employment creates work, small-scale production occurs at smaller scale and local markets serve particular areas. |
| 51 | B | A–1, B–2, C–3, D–4 | Finance and technology constraints restrict access to resources, productivity concerns output relative to inputs and competitiveness concerns the ability to compete. |
| 52 | B | A–1, B–2, C–3, D–4 | The unorganised sector generally has less formal structure; informal activities operate outside many formal arrangements; livelihood is a means of earning and informality is not automatically illegal. |
| 53 | A | A–1, B–2, C–3, D–4 | Employment creates work, limited finance restricts investment, technology adoption introduces improved technology and enterprise challenges may limit growth. |
| 54 | B | A–1, B–2, C–3, D–4 | Production capability concerns making products, market access concerns reaching buyers, distribution concerns delivery and growth constraints restrict expansion. |
| 55 | B | A–1, B–2, C–3, D–4 | Training improves human capability, equipment improves physical/technological resources, productivity compares output with resources and capacity building strengthens ability. |
| 56 | A | A–1, B–2, C–3, D–4 | Customer concentration creates dependence, market risk arises from market conditions, diversification creates additional demand sources and resilience means withstanding difficulties. |
| 57 | A | A–1, B–2, C–3, D–4 | Objectives identify goals, target markets identify customers, resource plans identify requirements and financial plans consider monetary requirements and outcomes. |
| 58 | B | A–1, B–2, C–3, D–4 | Target customers are the intended group, preferences show what they value, product planning incorporates those needs and market analysis studies conditions. |
| 59 | A | A–1, B–2, C–3, D–4 | Sales estimates concern expected sales, cost estimates concern expenditure, revenue projections concern sales income and profit compares revenue with costs. |
| 60 | B | A–1, B–2, C–3, D–4 | Risk assessment evaluates possible problems, lower demand means below-expected sales, contingency thinking considers responses and realistic planning uses reasonable assumptions. |
| 61 | B | A–1, B–2, C–3, D–4 | An attractive idea can still face resource constraints; business planning identifies requirements and tests practical feasibility. |
| 62 | A | A–1, B–2, C–3, D–4 | Demand represents customer interest, competition represents alternatives, differentiation creates distinction and market strategy guides customer reach. |
| 63 | B | A–1, B–2, C–3, D–4 | Assumptions guide the initial plan, feedback provides real information, revision changes the plan and adaptive planning responds to evidence. |
| 64 | A | A–1, B–2, C–3, D–4 | Revenue comes from sales, costs are business expenditures, profit is the excess of revenue over relevant costs and the financial result reflects the comparison. |
| 65 | B | A–1, B–2, C–3, D–4 | Higher sales may increase revenue, rising costs increase expenditure, margin pressure occurs when costs rise relative to revenue and profitability concerns ability to generate profit. |
| 66 | A | A–1, B–2, C–3, D–4 | Sales quantity is units sold, selling price is amount per unit, total revenue is quantity × price and profit is revenue minus relevant costs. |
| 67 | B | A–1, B–2, C–3, D–4 | Cost reduction lowers expenditure, unnecessary expenditure provides insufficient benefit, lower costs can improve profit and efficiency concerns resource use. |
| 68 | B | A–1, B–2, C–3, D–4 | Revenue is ₹70,000, cost is ₹75,000, the ₹5,000 difference is a loss and therefore the financial result is negative. |
| 69 | A | A–1, B–2, C–3, D–4 | A lower price reduces price per unit, sales volume concerns units sold, revenue depends on price and quantity and profit depends on revenue and costs. |
| 70 | B | A–1, B–2, C–3, D–4 | High revenue does not guarantee profit because high costs may exceed revenue; business performance should therefore consider both revenue and costs. |
| 71 | A | A–1, B–2, C–3, D–4 | Cash, equipment and buildings owned by the business are assets; a bank loan is a liability. |
| 72 | B | A–1, B–2, C–3, D–4 | Equipment is an acquired asset, borrowed funds create a repayment obligation, that obligation is a liability and together they affect financial position. |
| 73 | A | A–1, B–2, C–3, D–4 | Equipment is a resource owned, an outstanding amount is an obligation, assets are resources and liabilities are obligations. |
| 74 | B | A–1, B–2, C–3, D–4 | Assets show resources, liabilities show obligations, financial position reflects the overall relationship and balance information helps compare them. |
| 75 | A | A–1, B–2, C–3, D–4 | Existing cash decreases while equipment increases; this is a conversion between assets and does not necessarily create a liability. |
| 76 | B | A–1, B–2, C–3, D–4 | Borrowing initially provides funds, creates an obligation, the funds may finance expansion and repayment creates financial responsibility. |
| 77 | A | A–1, B–2, C–3, D–4 | Similar assets mean comparable resources, larger liabilities mean greater obligations and borrowing level contributes to the financial position. |
TABULAR ANSWER KEY
| Q | Ans. | Q | Ans. | Q | Ans. | Q | Ans. |
| 1 | A | 20 | D | 39 | B | 58 | B |
| 2 | B | 21 | B | 40 | A | 59 | A |
| 3 | C | 22 | B | 41 | B | 60 | B |
| 4 | D | 23 | C | 42 | C | 61 | B |
| 5 | A | 24 | A | 43 | A | 62 | A |
| 6 | B | 25 | B | 44 | B | 63 | B |
| 7 | C | 26 | A | 45 | B | 64 | A |
| 8 | B | 27 | B | 46 | A | 65 | B |
| 9 | A | 28 | A | 47 | B | 66 | A |
| 10 | C | 29 | A | 48 | B | 67 | B |
| 11 | D | 30 | B | 49 | A | 68 | B |
| 12 | A | 31 | B | 50 | A | 69 | A |
| 13 | B | 32 | A | 51 | B | 70 | B |
| 14 | C | 33 | C | 52 | B | 71 | A |
| 15 | C | 34 | B | 53 | A | 72 | B |
| 16 | B | 35 | A | 54 | B | 73 | A |
| 17 | A | 36 | B | 55 | B | 74 | B |
| 18 | B | 37 | A | 56 | A | 75 | A |
| 19 | C | 38 | B | 57 | A | 76 | B |
| 77 | A |
