NIOS Class 10 Entrepreneurship — Flashcards for Quick Revision

A: Entrepreneurship means creating new things instead of only sticking to conventional business. It involves generating ideas, promoting them, and implementing a new business environment.

A: Idea generation is important because entrepreneurship starts with spotting a new opportunity. Good ideas are then promoted and implemented to create a business that can work in the market.

A: Entrepreneurship is the knowledge plus skills needed to translate business ideas into reality. It means a person can plan, organize, and start a business unit successfully.

A: An entrepreneur is a person or group of persons willing to take the risk of a new venture. An entrepreneur is self-employed, independent, and acts as his or her own boss. An entrepreneur assumes risk

A: The word entrepreneur comes from the French word entreprendre. It is made of entre, meaning between, and prendre, meaning to take. This shows the idea of taking on a new venture.

A: An entrepreneur works for him or herself rather than for someone else. The entrepreneur makes decisions, takes responsibility, and does not depend on another employer for the venture. This is why the

A: Entrepreneurship is important because entrepreneurs generate wealth, create employment opportunities, use resources effectively, and help the economy grow. They are also called nation builders because

A: Notable modern Indian entrepreneurs include Dhirubhai Ambani, Azim Premji, Narayan Murthy, Bhai Mohan Singh, and Kailash Chandra Mahindra. They are cited as examples of entrepreneurs who contributed t

A: Socio-economic development means the combined growth of society and the economy. Entrepreneurship supports it by creating jobs, improving income, using resources efficiently, and encouraging better pr