CBSE Class 12 Entrepreneurship Entrepreneurial Planning Worksheet Set A Solved

Read and download free pdf of CBSE Class 12 Entrepreneurship Entrepreneurial Planning Worksheet Set A Solved. Download printable Entrepreneurship Class 12 Worksheets in pdf format, CBSE Class 12 Entrepreneurship Entrepreneurial Planning Worksheet has been prepared as per the latest syllabus and exam pattern issued by CBSE, NCERT and KVS. Also download free pdf Entrepreneurship Class 12 Assignments and practice them daily to get better marks in tests and exams for Class 12. Free chapter wise worksheets with answers have been designed by Class 12 teachers as per latest examination pattern

Entrepreneurial Planning Entrepreneurship Worksheet for Class 12

Class 12 Entrepreneurship students should refer to the following printable worksheet in Pdf in Class 12. This test paper with questions and solutions for Class 12 Entrepreneurship will be very useful for tests and exams and help you to score better marks

Class 12 Entrepreneurship Entrepreneurial Planning Worksheet Pdf

ENTREPTRENEURIAL PLANNING

 
“Logic will get you from A to B. Imagination will take you everywhere.”
                                                                                           – Albert Einstein
 
Q 1Explain Different types of Business activities?
 
Ans : Human life is built around work. Because of being a bundle of recurring needs and wants, every person is engaged in some kind of activity with a view to earn his living and satisfy the material and social requirements. Activity, a symbol of human life may broadly be categorized into:
 
a) Economic Activities:
Activities undertaken to earn monetary gains are called economic i.e. activities primarily concerned with:
1. Production
2. Distribution and/or
3. Consumption of goods and services
 
b) Non-Economic activities:
Activities done out of love, care, affection, self-satisfaction, emotions, sympathy, patriotism etc. but not for money, are known as non-economic.
 
Q 2:How Economic Activities are classified?
 
Types of Economic Activities
Activities which are inspired mainly by economic consideration can be classified in three broad categories:
 
1) Profession
2) Employment
3) Business
 
1) Profession: "Profession is that occupation in which one professes to have acquired specialized knowledge, which is used either in instructing, guiding or advising others," says the Webster's Dictionary.
Examples: Lawyers, Doctors, Chartered Accountants, Company Secretaries, etc. Thus, the occupation/activity which requires an individual to apply special knowledge and skills is said to be a profession.
 
2) Employment: An activity in which an individual works regularly for others and get remuneration in return, undertaking personal services as per the agreement of employment.
 
3) Business: This is our key area of study. 'A state of being busy or occupied', is what 'Business literally means'. In a way all economic activities related to the production and distribution of goods and services undertaken for monetary gains, are said to be business.Activities which are inspired mainly by economic consideration can be classified in three broad categories:
1) Manufacturing
2) Service
3) Trading
 
Q 3: How Business activities are classified?

Ans3: 1) Manufacturing: Production of merchandise for use or sale using labour and machines,tools, chemical and biological processing, or formulation, may also refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production,in which raw materials are transformed into finished goods on a large scale. Such finished goods may be used for manufacturing other, more complex products, such as aircrafts, house hold appliances or automobiles, or sold to wholesalers, who in turn sell them to retailers, who then sell them to end users – the "CONSUMERS".
 
Manufacturing takes turns under all types of economic system. In a free market economy,manufacturing is usually directed toward the mass production of products for sale to consumers at a profit. In a collectivist economy, manufacturing is more frequently directed by the state to supply a centrally planned economy. In mixed market economies, manufacturing occurs under some degree of government regulation.
 
2) Service: An intangible commodity a type of economic activity that is intangible is not stored and does not result in ownership. A service is consumed at the point of sale. Services are one of the two key components of economics, the other being goods. Examples of services include the transfer of goods, such as the postal service–delivering mail, and the use of expertise or experience, such as a person visiting a doctor.
Service sector includes commercial firms engaged in banking, communication, transport, insurance, warehousing etc. This sector constitutes the basic infrastructure which is a must for smooth flow of business activities. In the recent past, the role of service sector in the Indian economy is growing faster than agriculture and industry.
 
3) Trading: Not a new phenomenon we've been doing it for centuries! The trade that occurred among the most primitive humans has evolved considerably over time. Trading is;
1) The activity or process of buying, selling, or exchanging goods or services
2) The amount of things or services that are bought and sold : the money made by buying and selling things or services
3) The act of exchanging one thing for another
Thus, in nutshell, our key area of study is - BUSINESS. 'A state of being busy or occupied', is what 'Business literally means'. In a way all economic activities related to the production and distribution of goods and services undertaken for monetary gains are said to be business.
 
Q 4: Define Business ? Explain its Characteristics.
 
"An institution organized and operated to provide goods and services to the society under the incentive of private gain", is said to be business. — Wheeler Business is a continuous human economic activity with an objective to earn profit by producing, buying and selling of goods and services. Irrespective of size, nature, scale or ownership, an activity is referred as business if it exhibits the following essential characteristics:
 
1) Entrepreneur's presence: There must be someone/person to take initiative for establishing a business and undertake the risk associated with the same.
 
2) Economic activity: All those activities related to the production and/or distribution of goods and services, with economic motive i.e. profit can form part of business.
 
3) Production or procurement of goods and services: A business which either produces or procures goods and services for offering them to consumers, could be:
a) Consumer's goods
b) Producer's goods
c) Services
 
4) Sale or exchange of goods and services: A business must involve sale, exchange or transfer of goods and/or services for the satisfaction of human needs against a value/price. Goods/services purchased or produced for personal/self-consumption, is not a business.
 
5) Regularity: One time transaction or dealing in goods and services is not business,even if one earns profit in return. Business must be done regularly.
 
6) Utility creation: Business activities result in creation of utilities i.e.
 
a) Form utility – Changing the form of raw material into finished product creates form utility.
b) Place utility – From the place of production, transporting goods to the place of consumption results in place utility.
c) Time utility – The process of storing the goods when not required to supplying them when required generates time utility.
 
7) Profit earning: Profit is the reward for undertaking a business activity as no business can survive for long without earning profits.
 
8) Uncertainty of return: Business does not guarantee for the return of either principal amount invested in the business or the profit.
 
9) Element of risk: Business involves risk i.e., uncertainty. 'Higher the risk, higher the profit' goes the old proverb. The actual business situation is affected by a variety of uncontrollable external factors casting favourable or unfavourable impact on business. Thus, the risk element keeps a businessman vigilant and going.


Please click on below link to download CBSE Class 12 Entrepreneurship Entrepreneurial Planning Worksheet Set A Solved

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Entrepreneurial Planning CBSE Class 12 Entrepreneurship Worksheet

The above practice worksheet for Entrepreneurial Planning has been designed as per the current syllabus for Class 12 Entrepreneurship released by CBSE. Students studying in Class 12 can easily download in Pdf format and practice the questions and answers given in the above practice worksheet for Class 12 Entrepreneurship on a daily basis. All the latest practice worksheets with solutions have been developed for Entrepreneurship by referring to the most important and regularly asked topics that the students should learn and practice to get better scores in their examinations. Studiestoday is the best portal for Printable Worksheets for Class 12 Entrepreneurship students to get all the latest study material free of cost. Teachers of studiestoday have referred to the NCERT book for Class 12 Entrepreneurship to develop the Entrepreneurship Class 12 worksheet. After solving the questions given in the practice sheet which have been developed as per the latest course books also refer to the NCERT solutions for Class 12 Entrepreneurship designed by our teachers. After solving these you should also refer to Class 12 Entrepreneurship MCQ Test for the same chapter. We have also provided a lot of other Worksheets for Class 12 Entrepreneurship which you can use to further make yourself better in Entrepreneurship.

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