An Entrepreneur — Entrepreneurship STD 11 Commerce — Question

Define 'Market'?

Rahul, an owner of a huge Departmental Store, charges exorbitantly due of no competition around to the misses out on no opportunity to earn profit. He finds nothing wrong as the main goal of business is to earn 'Profit'. Discuss any four values which you find are lacking in him as a rational businessman.

Mr. Sanjay is the HR Manager of 'Sprint India Limited', a company engaged in the manufacturing of sports goods. With the approaching Commonwealth Games, the company is flooded with orders. Due to lack of competent staff, Mr. Sanjay decides to outsource some of the work. The company's management agrees on the condition that the quality of the work should not be compromised upon. Suggest Mr. Sanjay the different methods through which work can be outsourced. Also, identify the value being communicated by the company.

Enlist the points related to "Total Offer to the consumer by the entrepreneur".

Classify enterprise into different categories.

Vishakha runs an export unit, which exports handicrafts to the gulf countries. With the gulf countries imposing quota restrictions on the Indian Government relating to oil imports, the relationship between these countries has become strained so much that the Indian Government has stopped trade with these countries. Which factor is responsible for the risk faced by Vishakha? Identify the value violated by the government of gulf countries.

Briefly discuss 'information resource centre'.

Why is there a need for classification of costs?

Which factors must be considered while fixing the price?

Difference between seed capital and margin money.