Enterprise Marketing — Entrepreneurship STD 12 Commerce — Question

Kartik wants to start a new ready made garments shop in his colony. He knows that it is the best opportunity for him and it is going to give him high rate of promising returns. How do you agree with Kartik that he has selected a right opportunity?

What factors are involved in the process of sensing entrepreneurial opportunity?
OR
Name the two factors that are involved in sensing opportunities.

Why is business considered an economic activity?

Give one advantage that trading has over other types of businesses.

Once selected, changing the 'form' of business is undesirable. Why?

Enumerate the types of Specialised Financial Institutions (SFIs) from where entrepreneur can access capital according to their needs and requirements.

Rahul wants to start an amusement park near Vishakhapattanam. This will require an investment of Rs.50 lakhs. Name the financial institution which Rahul should approach for financing this venture.

A detailed plan of operations for some specific future period is referred to as what?

Kumar belongs to a farmer’s family. One day a team of officials from the local block development office visited his village for discussing additional opportunities related to agriculture. The team discussed with the villagers how to develop fishery. The team explained about the technique of construction of ponds and the modern technology of growing fishes. The team also informed that the State agriculture department will provide loan at an interest rate of 2½ % per annum to the farmers who will engage themselves in the occupation and will also help the farmers in the marketing of the fishes. Kumar decided to engage himself in the fishery occupation.
Identify the 'idea field' that helped Kumar to engage himself in fishery occupation.

From what do entrepreneurs spot business opportunities?