Download App

Entrepreneurial Planning — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Planning3 Marks
Question
Define economic activities. How do they differ from non-economic activities? Give examples.
✓

Answer

Activities undertaken to earn monetary gains are called economic activities. These are primarily concerned with production, distribution and consumption of goods and services.
Difference between economic and non-economic activities are:
 
Basis
Economic activities
Non-economic activities
1.
Meaning
Economic activities are those which are done for monetary gains to earn our livelihood.
Non-economic activities are those which are performed out of love, sympathy, care, affection, self-satisfaction, patriotism, etc.
2.
Purpose
To earn money.
To satisfy social, psychological needs.
3.
Examples
A worker working in a factory, an entrepreneur performing entrepreneurial functions for production or trading of goods and services.
A teacher teaching his/ her daughter at home, a person going to temple for offering prayers.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "3 Marks Question" from Entrepreneurial Planning→Entrepreneurial Planning — all question types→Entrepreneurship STD 12 Commerce question papers→CBSE Board STD 12 Commerce question papers→CBSE Board question paper generator→

Similar questions

Why is market survey necessary for a feasibility plan?
→
Sales strategy is of immense use for sales representatives. How?
→
From the following information calculate return on investment and return on equity. You have newly started a beauty parlour business, you spend ₹ 1,50,000 to open the parlour of which you invested ₹ 70,000 of your own money and borrowed a loan for ₹ 80,000. Interest rate per annum is 7%. Sales revenue per month is ₹ 80,000. Cost of goods sold is ₹ 30,000 per month. Fixed expenses is ₹ 30,000 (salary ₹ 20,000, rent and utility 10,000), depreciation ₹ 3,000 and tax @ 14%.
→
Company form of organisation is suitable for which type of business?
→
State any two points of importance of 'Goal Setting'.
→
How business environment can be classified into different categories?
→
Give the year of establishment and type of organisation for the following stock exchanges in India.
Delhi Stock Exchange.
Pune Stock Exchange.
→
The business assets of an organisation amount to ₹ 2,50,000 and its unpaid liabilities ₹ 3,00,000. What are the alternatives available to the creditors if:
  1. The organisation is a sole proprietorship firm.
  2. The organisation is a partnership firm with Raghu and Rahul as partners.
  3. The organisation is an Hindu Undivided Family.
→
How high leverage is a reason for failure of merger? Explain.
→
Explain in detail the types of mergers.
→