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Grade IX Employability Skills Level-I
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Unit 4-Entrepreneurial Skills
Unit 4: Entrepreneurial Skills
Employability Skills · School Revise
1. Types of business activities
A business is a continuous activity of producing, buying or selling goods and services to earn a profit. Based on activity, businesses are: manufacturing (making products), service (providing a service), trading/merchandising (buying and selling goods), and hybrid (a mix).
Businesses around us, in cities and villages, provide goods and services in exchange for money.
2. Entrepreneurship and its characteristics
Entrepreneurship is the creation of a new business venture. An entrepreneur takes the initiative to start, run and grow a business, makes key decisions and takes risks.
Distinguishing characteristics of entrepreneurship include taking initiative, accepting risk, being creative, and working hard. Entrepreneurship creates jobs and helps the economy grow.
Practice (Multiple Choice)
- 1. A business that makes products is a
- a) service business
- b) manufacturing business
- c) trading business
- d) hybrid business
- 2. The creation of a new business venture is called
- a) employment
- b) entrepreneurship
- c) banking
- d) phishing
- 3. A person who starts and runs a business is an
- a) employee
- b) entrepreneur
- c) customer
- d) supplier
- 4. A bank or a salon is an example of a
- a) manufacturing business
- b) service business
- c) farm
- d) factory
- 5. Entrepreneurship helps the economy by
- a) reducing jobs
- b) creating jobs
- c) stopping trade
- d) raising prices
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