KSEEB Class 10 Business Studies Important Questions Chapter 2 Rural Development

Students can download Class 10 Business Studies Chapter 2 Rural Development Important Questions, KSEEB SSLC Class 10 Social Science Important Questions and Answers helps you to revise the complete Karnataka State Board Syllabus and score more marks in your examinations.

Karnataka SSLC Class 10 Social Science Business Studies Important Questions Chapter 2 Rural Development

Question 1.
How is the word ‘entrepreneur’ derived?
Answer:
The word entrepreneur’ is derived from the French word ‘Entreprendre’, which means to undertake’ some activity.

Question 2.
Who is an entrepreneur?
Answer:
An entrepreneur is an innovator of new ideas and business processes. He possesses management and strong team-building skills and abilities and essential leadership qualities to manage the business.

Question 3.
Name some of the products and services that have come into use as a result of entrepreneurship.
Answer:
Computers, mobile phones, washing machines, ATMs, courier services, instant foods, etc., are examples of entrepreneurial ideas that got converted into products and services.

Question 4.
What is entrepreneurship?
Answer:
Entrepreneurship is the process of action of an entrepreneur who undertakes to establish his enterprise. It is the ability to create and build something. It is the attitude of mind to seek opportunities, take calculated risks and derive benefits by setting up a venture.

KSEEB Class 10 Business Studies Important Questions Chapter 2 Rural Development

Question 5.
Entrepreneurship is a creative activity. How?
Answer:
An entrepreneur is an innovator of new ideas and business processes. He possesses management skills and strong team-building abilities and essential leadership qualities to manage the business. He has the knack of sensing an opportunity. He takes the initiative by organising a venture to take_ advantage of the opportunity.

He decides what, how and how much of goods and services are to be produced. He comes up with new ideas or techniques to market the product. Thus, an entrepreneur is someone who perceives opportunity, organises resources needed for using the opportunity and exploits it. This shows that entrepreneurship is a creative activity.

Question 6.
Entrepreneurship is a process. How?
Answer:
Entrepreneurship is a process of an action of an entrepreneur who undertakes to establish his enterprise. Entrepreneurship involves recognition of an opportunity, organising resources needed for exploiting the opportunity, launching a new venture, running it and building it into a growing, profitable business.

Question 7.
Entrepreneurship is a philosophy. How?
Answer:
Entrepreneurship is the way one thinks, one acts and therefore which can exist in many situations, be it business or government or the field of education, science and technology or any other. Hence, entrepreneurship is a philosophy.

Question 8.
What are the characteristics of an entrepreneur?
Answer:
The characteristics of an entrepreneur are: Creativity, dynamism, team-building, problem solving, risk taking, commitment, innovation, leadership, achievement motivation, goal orientation, self-confidence and decision-making.

KSEEB Class 10 Business Studies Important Questions Chapter 2 Rural Development

Question 9.
What are the functions of an entrepreneur?
Answer:
The main functions of an entrepreneur are:

  • He starts business activity by preparing various plans relating to business.
  • He organizes the factors of production.
  • He takes decisions about product, technology, marketing, employment, etc.
  • He co-ordinates things effectively.
  • He handles the budget of his concern.
  • He bears risk and uncertainty.
  • He gives directions to the business firm and ensures its effective operation.
  • He puts new methods into practice.

Question 10.
What is the role of entrepreneurs in economic development?
Answer:
The role of entrepreneurs in economic development is:

  • Entrepreneurs promote capital formation by mobilizing the idle savings of the citizens.
  • They provide employment opportunities to artisans, technically qualified persons and professionals.
  • They help the country increase its GDP and per capita income.
  • They encourage effective mobilization of skills, bring in new products and services and develop the market for those products.
  • They enable the people to avail better quality goods at lower prices which help in the improvement of their standard of living.
  • They promote development of industries. They help to remove regional disparities by industrialising rural and backward areas.
  • They contribute to development of the society by reducing concentration of income and wealth.
  • They also promote country’s export trade.
  • They try to maximise profits by innovating.

Question 11.
Explain the importance of entrepreneurs.
(OR)
An entrepreneur is a wealth of the country. How?
Answer:
Entrepreneurs activate and stimulate all activities for the economic progress of a nation. They promote capital formation by mobilizing the idle savings of the citizens. They encourage effective mobilization of skills, bring in new products and services and develop the market for those products.

They promote development of industries. Such type of entrepreneurial activities create value addition and wealth, which is essential for the industrial and economic development of a country. It is the entrepreneurial creativity and innovation that triggers production and sale of new products and services.

Question 12.
Name the areas in which one can start self-employed enterprises.
(OR)
Which organisations should a person contact for advice to start self-employment?
Answer:
Self-employed enterprises can be set up in areas like –

  • Advertising agency
  • Marketing consultancy
  • Industrial consultant
  • Equipment rental and leasing
  • Photocopying centres
  • Industrial research and development
  • Internet browsing/cyber cafe
  • Cable T.V. network
  • Creche and beauty parlours
  • Industrial testing labs, etc.

A person who wants to take up self-employment can contact any of the relevant enterprises for advice.

KSEEB Class 10 Business Studies Important Questions Chapter 2 Rural Development

Question 13.
Explain the importance of finance in starting and developing a business enterprise.
Answer:
Finance is one of the essential requirements to start an enterprise. Without adequate funds no business can be started or developed. Entrepreneurs require continuous flow of funds not only for setting up of their business but also for successful operation as well as for regular upgradation or modernization of the enterprise.

Question 14.
Name some financial institutions that provide financial assistance to start business enterprises.
Answer:
Some of the financial institutions that provide financial assistance to start business enterprises are:

  • Industrial Development Bank of India (IDBI)
  • National Bank for Agriculture and Rural Development (NABARD)
  • Small Industries Development Bank of India (SIDBI)
  • Industrial Finance Corporation of India (IFCI)
  • Commercial Banks
  • State Finance Corporations
  • Unit Trust of India (UTI)
  • Export-Import Bank (EXIM)
  • Industrial Credit and Investment Corporation of India (ICICI)
  • Industrial Reconstruction Bank of India (IRBi)
  • Life Insurance Corporation of India (LIC).
    In addition, there are many other institutions which also provide finance for setting up business enterprises.

Question 15.
What are entrepreneur promotional organisations? Give examples.
Answer:
Governments at the state and central levels have introduced many measures to support the growth and development of entrepreneurs. A number of promotion agencies and institutions have been set up to help emerging entrepreneurs to start small and medium-scale enterprises.

They help entrepreneurs in respect of training, financing and marketing. Such institutions are called entrepreneur promotional organisations. District Industrial Centres, Small Scale Industries Board, Small Industries Development Corporation, etc., are examples of such organisations.

KSEEB Class 10 Business Studies Important Questions Chapter 2 Rural Development

Question 16.
Mention the organisations that promote entrepreneurship.
Answer:
The organisations that promote entrepreneurship are:

  • District Industrial Centres
  • Small Industries Development Corporation
  • National Small Industries Corporation
  • Small-scale Industries Board
  • Small Industries Service Institutions
  • Industrial Estates
  • Khadi and Village Industries Board
  • Technical Consultancy Organisation.

Question 17.
Mention some of the successful entrepreneurs of India.
Answer:
Dr. Pratap Reddy, Naresh GoyaL Narayan Murthy, Verghese Kurien, Dhirubhai Ambani, Azim Premji, Ekta Kapoor and Kiran Mazumdar Shaw are some of the successful entrepreneurs of India.

Question 18.
Who was the entrepreneur who developed India’s first hospital group?
Answer:
The entrepreneur who developed India’s first hospital group was Dr. Pratap Reddy.

Question 19.
What is the name of Dr. Pratap Reddy’s hospital group?
Answer:
Dr. Pratap Reddy’s group of hospitals is called Apollo Hospitals.

Question 20.
What are the achievements of Dr. Pratap Reddy?
Answer:
Dr. Pratap Reddy is the founder of India’s first hospital group, ‘The Apollo Hospitals’. He revolutionized India’s health care sector. He created a medical infrastructure in India which made medical care more affordable and accessible to everyone.

Question 21.
Who is the founder of Jet Airways?
Answer:
Naresh Goyal is the founder of Jet Airways.

Question 22.
Which is India’s largest domestic airlines in the private sector?
Answer:
Jet Airways is India’s largest domestic airlines in the private sector.

KSEEB Class 10 Business Studies Important Questions Chapter 2 Rural Development

Question 23.
Who is the founder of Infosys Technologies Ltd?
Answer:
Narayan Murthy is one of the founders of Infosys Technologies Ltd.

Question 24.
Which was the first Indian compciny to be listed on NASDAQ?
Answer:
Infosys Technologies Ltd. was the first Indian company to be listed on NASDAQ.

Question 25.
Describe the achievements of Narayan Murthy.
Answer:
Narayan Murthy is one of the founders of Infosys Technologies Ltd. Infosys became the first Indian company to be listed on NASDAQ. By 2006, the company employed over 50,000 people and had a turnover of two billion dollars.

Question 26.
What, according to Narayan Murthy, are the key factors for success?
Answer:
According to Narayan Murthy, honesty, transparency and moral integrity are the key factors for success. .

KSEEB Class 10 Business Studies Important Questions Chapter 2 Rural Development

Question 27.
Who is known as the ‘Father of White Revolution’?
Answer:
Verghese Kurien is known as the ‘Father of White Revolution.

Question 28.
Why is Verghese Kurien known as the ‘Father of White Revolution?
Answer:
Verghese Kurien is known as the ‘Father of White Revolution’ because he played the key role in revolutionizing dairy farming in Gujarat. Kurien was responsible for the creation and success of ‘Amul’ brand of dairy products. The small-scale Anand Milk Dairy that he established in Kaira district in Gujarat is now the largest dairy development enterprise in India.

Question 29.
Which is the largest dairy development enterprise in India?
Answer:
The Anand Milk Dairy in Kaira district of Gujarat is the largest dairy development enterprise in India.

Question 30.
Who is the founder of Reliance Industries?
Answer:
Dhirubhai Ambani is the founder of Reliance Industries.

Question 31.
Write a note on the achievements of Dhirubai Ambani.
Answer:
Dhirubhai Ambani (Dhiralal Hirachand Ambani), founder of Reliance Group of Industries, is the most fascinating and successful entrepreneur of India. His life journey is reminiscent of the rags-to-riches story. He is remembered as the one who rewrote Indian corporate history.The son of a school teacher, he started his career by selling ‘bhajan books’to pilgrims at Mount Girnar during weekends. After completing his matriculation at the age of 16, he moved to Aden in Africa.

He worked there as a gas-station attendant and as a clerk in an oil company. He returned to India in 1958 and with Rs. 50,000 set up a textile trading company. His business has diversified into a core specialization in petro-chemicals with additional interests in telecommunications, information technology, energy, power, retail textiles, infrastructure services, capital market and logistics.

KSEEB Class 10 Business Studies Important Questions Chapter 2 Rural Development

Question 32.
Which are the areas into which the business of Reliance Industries has diversified?
Answer:
Beginning with trading in textiles in the 1960s, the business of Reliance Industries today has diversified into a core specialization in petro-chemicals with additional interests in telecommunications, information technology,energy, power, retail textiles, infrastructure services, capital market and logistics.

Question 33.
Who is the Chairman of Wipro Technologies?
Answer:
Azim Premji is the Chairman of Wipro Technologies.

Question 34.
Write a note on the achievements of Azim Premji.
Answer:
Azim Premji is the chairman of Wipro Technologies, one of the largest software companies in India. He was responsible for guiding Wipro through four decades of diversification and growth to finally emerge as one of the global leaders in the software industry. It is also the largest independent Research and Development (R & D) service provider.

Question 35.
Who is considered as the Queen of Indian Television?
Answer:
Ekta Kapoor, the creative director of Balaji Telefilms, is considered as the Queen of Indian Television.

Question 37.
Who is known as the ‘Father of White Revolution’?
Answer:
Verghese Kurien is known as the ‘Father of White Revolution.

KSEEB Class 10 Business Studies Important Questions Chapter 2 Rural Development

Question 38.
Why is Verghese Kurien known as the ‘Father of White Revolution’?
Answer:
Verghese Kurien is known as the ‘Father of White Revolution’ because he played the key role in revolutionizing dairy farming in Gujarat. Kurien was responsible for the creation and success of‘Amul’ brand of dairy products. The small-scale Anand Milk Dairy that he established in Kaira district in Gujarat is now the largest dairy development enterprise in India.

Question 39.
Which is the largest dairy development enterprise in India?
Answer:
The Anand Milk Dairy in Kaira district of Gujarat is the largest dairy development enterprise in India.

Question 40.
Who is the founder of Reliance Industries?
Answer:
Dhirubhai Ambani is the founder of Reliance Industries.

Question 41.
Write a note on the achievements of Dhirubai Ambani.
Answer:
Dhirubhai Ambani (Dhiralal Hirachand Ambani),founder of Reliance Group of Industries, is the most fascinating and successful entrepreneur of India. His life journey is reminiscent of the rags-to-riches story. He is remembered as the one who rewrote Indian corporate history. The son of a school teacher, he started his career by selling ‘bhajan books’to pilgrims at Mount Girnar during weekends. After completing his matriculation at the age of 16, he moved to Aden in Africa.

He worked there as a gas-station attendant and as a clerk in an oil company. He returned to India in 1958 and with Rs. 50,000 set up a textile trading company. His business has diversified into a core specialization in petro-chemicals with additional interests in telecommunications, information technology, energy, power, retail textiles, infrastructure services, capital market and logistics.

KSEEB Class 10 Business Studies Important Questions Chapter 2 Rural Development

Question 42.
Which are the areas into which the business of Reliance Industries has diversified?
Answer:
Beginning with trading in textiles in the 1960s, the business of Reliance Industries today has diversified into a core specialization in petro-chemicals with additional interests in telecommunications, information technology, energy, power, retail textiles, infrastructure services, capital market and logistics.

Question 43.
Who is the Chairman of Wipro Technologies?
Answer:
Azim Premji is the Chairman of Wipro Technologies.

Question 44.
Write a note on the achievements of Azim Premji.
Answer:
Azim Premji is the chairman of Wipro Technologies, one of the largest software companies in India. He was responsible for guiding Wipro through four decades of diversification and growth to finally emerge as one of the global leaders in the software industry. It is also the largest independent Research and Development (R & D) service provider.

Question 45.
Who is considered as the Queen of Indian Television?
Answer:
Ekta Kapoor,the creative director of Balaji Telefilms, is considered as the Queen of Indian Television.

Question 46.
What is the name of Ekta Kapoor’s production company?
Answer:
The name of Ekta Kapoor’s production company is Balaji Telefilms.

Question 47.
Ekta Kapoor is the creative director of which company?
Answer:
Ekta Kapoor is the creative director of Balaji Telefilms.

KSEEB Class 10 Business Studies Important Questions Chapter 2 Rural Development

Question 48.
Which is the largest biotechnology company in India?
Answer:
Biocon Ltd. is the largest biotechnology company in India.

Question 49.
Who is the founder of Biocon Ltd? When was it founded?
Answer:
Biocon Ltd was founded by Kiran Mazumdar Shaw in 1978.

Question 50.
Who is the chairman of Biocon Ltd?
Answer:
Kiran Mazumdar Shaw is the Chairman and Managing Director of Biocon Ltd.

Question 51.
Expand the following abbreviations
Answer:
GDP.IDBI, NABARD, EXIM Bank, SIDBI, IFCI, ICCCI, IRBI, SFC, LIC, UTI, DIC, NASDAQ. GDP – Gross Domestic Product. IDBI – Industrial Development Bank of India. NABARD – National Bank for Agriculture and Rural Development. EXIM Bank – Export-Import Bank. SIDBI – Small Industries Development Bank of India. IFCI – Industrial Finance Corporation of India. ICICI – Industrial Credit and Investment Corporation of India. IRBI – Industrial Reconstruction Bank of India. SFC – State Finance Corporation. LIC – Life Insurance Corporation of India. UTI – Unit Trust of India. DIC – District Industrial Centre. NASDAQ – National Association of Securities Dealers Automated Quotations.

Multiple-choice Questions:

Question 1.
The activities which an entrepreneur undertakes to establish his enterprise is called –
(A) entrepreneurship
(B) employment
(C) business
(D) trade.
Answer:
(A) entrepreneurship

Question 2.
One of the founders of Infosys Technologies is –
(A) Dr. Pratap Reddy
(B) Narayan Murthy
(C) Naresh Goyal
(D) Ekta Kapoor
Answer:
(B) Narayan Murthy

Question 3.
The founder of Reliance industries is –
(A) Dhirubhai Ambani
(B) Mukesh Ambani
(C) Anil Ambani
(D) Azim Premji
Answer:
(A) Dhirubhai Ambani

KSEEB Class 10 Business Studies Important Questions Chapter 2 Rural Development

Question 4.
The person who is renowned as the Father of White revolution is –
(A) Dhirubhai Ambani
(B) Verghese Kurien
(C) Azim Premji
(D) Kiran Mazumdar Shaw
Answer:
(B) Verghese Kurien

Question 5.
The chairman of Wipro Technologies is –
(A) Verghese Kurien
(B) Dhirubhai Ambani
(C) Azim Premji
(D) Ekta Kapoor
Answer:
(C) Azim Premji

Question 6.
The person who is known as the Queen of Indian television sector is –
(A) Kiran Mazumdar
(B) Ekta Kapoor
(C) Azim Premji
(D) Pramila Devi
Answer:
(B) Ekta Kapoor

Question 7.
Pratap Reddy is associated with –
(A) Apollo Hospitals
(B) Reliance Company
(C) Wipro Technologies
(D) Biocon Ltd
Answer:
(A) Apollo Hospitals

KSEEB Class 10 Business Studies Important Questions Chapter 2 Rural Development

Question 8.
The first Indian company to be listed on NASDAQ was –
(A) Wipro
(B) Infosys
(C) Biocon
(D) Reliance Industries
Answer:
(B) Infosys

Question 9.
In list A, names of entrepreneurs and in list B, names of the companies founded by them are given. Identify the group that is matched correctly.

List A List B
1. Dr. Prathap Reddy (a) Reliance
2. Naresh Coyal (b) Apollo Hospitals
3. Narayan Murthy (c) Jet Airways
4. Dhirubhai Ambani (d) Infosys

Answer:

  • 1-d, 2-a, 3-b, 4-c
  • 1-d, 2-c, 3-a, 4-b
  • 1-a, 2-d, 3-c, 4-b
  • 1-b, 2-c, 3-d, 4-a

Question 10.
In list A, names of entrepreneurs and in list B, names of the companies founded by them are given. Identify the group that is matched correctly.

List A List B
1. Verghese Kurien (a) Balaji Telefilms
2. Azim Premji (b) Anand Milk Dairy
3. Ekta Kapoor (c) Biocon
4. Kiran Mazumdar Shaw (d) Wipro

Answer:

  • 1-a, 2-c, 3-b, 4-d
  • 1-c, 2-b, 3-d, 4-a
  • 1-b, 2-d, 3-a, 4-c
  • 1-b, 2-d, 3-c, 4-a

Question 11.
The entrepreneur who founded Jet Airways is –
(A) Dr. Prathap Reddy
(B) Naresh Goyal
(C) Narayan Murthy
(D) Verghese Kurien
Answer:
(B) Naresh Goyal

Fill in the Blanks:

  1. The word entrepreneur’ has come from the French word entreprendre
  2. The process of action an entrepreneur undertakes to establish an enterprise is called entrepreneurship
  3. The person who developed Apollo group of hospitals was Dr. Pratap Reddy
  4. The chairperson of Wipro is Azim Premji