Assertion Reason Questions for CBSE Class 11 Entrepreneurship Chapter 2 An Entrepreneur

Assertion Reason Questions for CBSE Class 11 Entrepreneurship Chapter 2 An Entrepreneur

Here we are providing assertion reason questions for cbse class 11 entrepreneurship. All chapters are covered.

An Entrepreneur Assertion Reason Question

In the following questions a statement of assertion followed by a statement of reason is given. Choose the correct answer out of the following choices.
(a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
(b) Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).
(c) Assertion (A) is true but Reason (R) is false.
(d) Assertion (A) is false but Reason (R) is true.

Q1. Assertion (A): Spontaneous entrepreneurs are born entrepreneurs.

Reason (R): Spontaneous entrepreneurs have initiative, boldness and confidence in their ability which motivate themselves to undertake any entrepreneurial activity.

Ans. (a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

Explanation:
Spontaneous entrepreneurs have a strong conviction and confidence in their inborn ability. Thus, they do not need external motivation and prove themselves through their job performance.

Q2. Assertion (A): Bela manufactures natural or unfinished fabrics made from cotton making her an industrial entrepreneur.

Reason (R): Ela is a cotton grower who provides raw material to Bela and hence also an industrial entrepreneur

Ans. (c) Assertion (A) is true but Reason (R) is false.
Explanation:
Ela is an agricultural entrepreneur.

Chapter List

1. Entrepreneurship : Concept and Functions
2. An Entrepreneur
3. Entrepreneurial Journey
4. Entrepreneurship as Innovation and Problem Solving
5. Understanding the Market
6. Business Finance and Arithmetic
7. Resource Mobilisation

Entrepreneurship CBSE Class 11

The syllabus is divided into seven units: (i) Entrepreneurship: Concept and Functions (ii) An Entrepreneur (iii) Entrepreneurial Journey (iv) Entrepreneurship as Innovation and Problem Solving (v) Understanding the Market (vi) Business Finance and Arithmetic (vii) Resource Mobilization.

Unit 1: Entrepreneurship: Concept and Functions

Competencies: Vision, Decision making, Logical, Critical and Analytical Thinking, Managing Skills

• Entrepreneurship – Concept, Functions and Need
• Why Entrepreneurship for You
• Myths about Entrepreneurship
• Advantage and Limitations of Entrepreneurship
• Process of Entrepreneurship
• Entrepreneurship – The Indian Scenario

Unit 2: An Entrepreneur

Competencies: Need Achievement, Motivation, Ethics, opportunity seeking, Passion, Independence

• Why be an Entrepreneur
• Types of Entrepreneurs
• Competencies and Characteristics
• Entrepreneurial Values, Attitudes and Motivation
• Intrapreneur: Meaning and Importance

Unit 3: Entrepreneurship Journey

Competencies: Scanning the environment; Information seeking; creativity; Innovativeness; divergent thinking; Perseverance 

• Generation of Ideas
• Feasibility Study and opportunity assessment
• Business Plan: meaning, purpose and elements
• Execution of Business Plan

Unit 4: Entrepreneurship as Innovation and Problem Solving

Competencies: Risk taking; Determination; Initiative; problem solving ability; Adaptability to changing technologies

• Entrepreneurs as problem solvers
• Innovations and Entrepreneurial Ventures – Global and Indian
• Role of  Technology – E-commerce and Social Media
• Social Entrepreneurship – Concept

Unit 5: Understanding the Market

Competencies: Task oriented, Opportunity seeking, resourcefulness, organizational skills, Analytical and logical reasoning

• Market: Concept, Types
• Micro and Macro Market Environment
• Market Research – Concept, Importance and Process
• Marketing Mix

Unit 6: Business Finance and Arithmetic

Competencies: Arithmetic skills, critical analysis, decision making, self-confidence, problem solving

• Unit of Sale, Unit Price and Unit Cost – for single product or service
• Types of Costs – Start up, Variable and Fixed
• Break Even Analysis – for single product or service

Unit 7: Resource Mobilization

Competencies: Resourcefulness; Collaboration; Managing Risk; Organizational Skills; Informed Decision Making

• Types of Resources – Physical, Human, Financial and Intangible.
• Selection and utilization of human resources and professionals like Accountants, Lawyers, Auditors, Board Members, etc.

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