Business Arithmetic — Entrepreneurship STD 12 Commerce — Question

Kareem after completing his XII class from his village school joined the course of electrician in an ITI in a town near his village. On completion of this course he tried for a government job but could not get the same. He, therefore, decided to work as a helper to a renowned electrician of the area. After working with him for two years, he decided to start his own electrician shop in the village. For this, he purchased equipment of Rs. 10,000 and hired a shop at a monthly rent of Rs. 2,000. He himself managed the shop.

1. Identify the kind of business organisation set up by Kareem.
2. State any four characteristics of the identified form of business organisation.

An entrepreneur has decided to open a retail outlet to sell fast food items like pizza, noodles etc. in the rural areas. Do you think his decision is correct? Give anyone reason identifying the environmental factor helpful in taking this decision.

Explain ‘Care to Ecology and Environment’ and ‘Concern for Workers’ as social responsibilities of an entrepreneur.

What should be the frequency of preparing a cash flow projection for a business plan?

A stock exchange performs many functions. State any four.

Why is it necessary to know the preferences of the buyers while deciding on a market strategy?

What is the need of financial management to an entrepreneur? Explain.

What is meant by 'Problem Identification'? State its any two objectives and also give an example of 'Problem Identification'.

What is the need of financial management?

Fixed Expenses = Quantity Sold Gross Profit Per Unit. How?