Entrepreneurship Journey — Entrepreneurship STD 11 Commerce — Question

'Place' is a important physical resource and many factors need to be considered before making the final selection of this resource. What are they?

Write down the difference between cost and expense with the help of an examples.

What do you understand by ‘unit of sale'? Explain by giving examples of some businesses alongwith their unit of sale.

Give examples of the past who are on the top today but once were in sorry state of affairs.

How an entrepreneur sources to procure finance for small business?

Explain how 'economic factor' can be the cause of external risk.

Describe one example explaining solving problems to meet the needs and wants of people.
OR
“Most entrepreneurial ventures have survived when they solve problems of people, understanding their needs and accordingly changing the product to their needs." Give an example in the support of this statement.

Kunal is thinking of starting his own business by manufacturing iron sheets. He is well aware of the fact that starting a business requires a wide range of data. Provide him with a list of institutions, providing information related to their functional importance.

Anjali Limited had decided to expand its production capacity by modernising its plant and machinery at an estimated cost of ₹ 2 crores. The company doesn't have enough reserves to finance modernisation. Suggest two sources to the company from where they can raise finance.

Explain the following Entrepreneurial Competencies:
Systematic planning