Kips IT Class 9 Chapter 15 Solutions TYPES OF BUSSINESS ACTIVITIES Part-A

TextbookKips Information Technology Class 9
PartA
UnitUnit-4 Entrepreneurial Skills
Chapter15 Types of Business Activities
Other Chapters SolutionsKips IT Class 9 Solutions

A. Fill in the Blanks:

1. Entrepreneur is a person who takes a risk to produce goods and services in search of profit.

  • Entrepreneur
  • Employee
  • Police
  • Bureaucrat

2. What kind of business ownership is best described by these statements?

  1. I am the only owner of my business.
  2. I take all the risks of doing business.
  3. I keep all the profits.
  • Sole Proprietorship
  • Corporation
  • Partnership
  • Cooperative

3. An entrepreneur takes risk to earn profits.

  • enforces government regulations
  • takes risk to earn profits
  • sets the interest rates at banks
  • manages financial investments

4. A grocery store is an example of which type of business activity?

  • Service
  • Merchandising
  • Manufacturing
  • Hybrid

5. What is the advantage of a cooperative?

  • Income tax exemption
  • Minimal government regulation
  • Short life span
  • Single ownership

B. Fill in the Blanks:

1. The basic objective of a Cooperative is to meet the economic, social, and cultural needs of its members.

2. A Hybrid business is a mixed type of business.

3. A business that provides products which do not have a physical form is called Service business.

4. Retail price is the price of goods or products when they are sold to customers for consumption, and not for resale.

5. Merchandising business is also known as Trading or Service business.