Entrepreneurship: Concept and Functions — Entrepreneurship STD 11 Commerce — Question

Define Finance.

The capital requirements of a business can be broadly categorised into two categories. Name those categories.

What changed with reference to market in the fifties and sixties?

Income statement has certain distinct features. State any two.

Fill in the blanks using the options below:
(Fixed cost per month, profit, sales or revenues, loss, expenses, total revenue, gross margin per unit, income, fixed cost)
The business is at neither ...................... nor ................., when it is at break even point.

Certain aspects of marketing are controllable. Name any two such aspects.

Name and explain the type of entrepreneur who seldom survive long.

‘Market' and 'marketing' are different concepts. Do you agree? Give reason in support of your answer.

If an entrepreneur cannot personally supply the necessary amount of money he can go for another option, i.e. (OPM). What does this OPM stands for?

What do you understand by unit cost/ variable cost/ cost of goods sold?