This page contains the entrepreneurship class 11 cbse book chapter/unit Resource Mobilization: Sources of Information notes where in the questions/answers/solutions for this chapter/unit 7.5 are covered.
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Q.1. Answer in not more than 15 words:
Question Q.1.(i)
Q.1.(i) Define Census Method of collecting data.
Answer Q.1.(i)
Census method means studying all units associated with a particular problem.
Question Q.1.(ii)
Q.1.(ii) Name the main producers of information.
Answer Q.1.(ii)
The main producers of information are government agencies, academic institutions, private sector, and individuals.
Question Q.1.(iii)
Q.1.(iii) Name the sources available to an entrepreneur at state and central level, to seek information regarding plant and machinery.
Answer Q.1.(iii)
The sources are SFC (State Finance Corporation) and CCIE (Chief Controller of Import and Export).
Q.2. Answer in not more than 75 words:
Question Q.2.(i)
Q.2.(i) Identify any six major small scale industry groups in India.
Answer Q.2.(i)
Any six major small scale industry groups in India are:
1.
Food products
2.
Chemical and chemical products
3.
Basic metal industries
4.
Electrical machinery and parts
5.
Rubber and plastic products
6.
Textile products
These can be listed as the major small scale industry groups in India.
Question Q.2.(ii)
Q.2.(ii) What purpose does ‘information’ serve for an entrepreneur.
Answer Q.2.(ii)
Information serves as a very important resource for an entrepreneur. It helps in identifying business opportunities, taking correct decisions, reducing uncertainty, understanding market conditions, selecting suitable resources, and planning the enterprise properly. Also, information acts as a major support for entrepreneurial decision-making and development.
Q.3. Answer in not more than 150 words:
Question Q.3.(i)
Q.3.(i) Identify the information resource centre at the State and Central levels available in India to the entrepreneur regarding:
(a)
Product standardization and quality mark
(b)
Technical know-how
(c)
Selection of Project
(d)
Registration
Answer Q.3.(i)
(a) Product standardization and quality mark
The information resource centres are ISI (Indian Standards Institute) and RT (Register of Trade Mark).
(b) Technical know-how
The centres are DDCA (Directorate of Drug Control Association) and CIPET (Central Institute of Plastic and Engineer Tool).
(c) Selection of Project
The centres are DIC / DTC (District Industrial Centre),IIC / ITC (Indian Investment Centre), and SFC (State Finance Corporation).
(d) Registration
The centres are NSIC (National Small Industrial Corporation),CCIE (Chief Controller of Import and Export), and STC (State Trading Corporation).
These centres help entrepreneurs get reliable information and support before starting an enterprise.
Q.4. Answer in not more than 250 words:
Question Q.4.(i)
Q.4.(i) Differentiate between Primary, Secondary and tertiary source of information.
Answer Q.4.(i)
Basis
Primary Source of Information
Secondary Source of Information
Tertiary Source of Information
Meaning
Information collected first-hand and directly from original source.
Information already collected, processed, and made available by others.
Sources which help in locating primary and secondary information.
Nature
Original and fresh data.
Not original; based on existing records and publications.
Guide or reference sources.
Collection
Collected through survey, observation, experiment, interviews, etc.
Obtained from reports, books, journals, government publications, etc.
Obtained from indexes, directories, bibliographies, catalogues, etc.
Example
Direct market survey of customers.
Census reports, journals, books, company reports.
Library catalogues, trade directories, reference guides.
Thus, primary sources give original data, secondary sources provide already available data, and tertiary sources help in locating both.
Question Q.4.(ii)
Q.4.(ii) What is meant by Primary source of information? Explain the method of collecting primary data.
Answer Q.4.(ii)
Primary source of information means information collected for the first time, directly from the original source. It is original, fresh, and collected specifically for the purpose of study.
The following are the methods of collecting primary data:
1.
Observation Method– Information is collected by directly observing events, people, or situations.
2.
Interview Method– Information is collected by asking questions directly to respondents.
3.
Questionnaire Method– A list of questions is prepared and responses are collected from people.
4.
Schedule Method– Similar to questionnaire, but the investigator fills in the responses.
5.
Experimentation Method– Data is collected by conducting experiments and testing results.
These methods help entrepreneurs collect reliable first-hand information for decision-making.