Question

Which of the following statements are true and which are false?
(i) Only rich persons can start a business.
(ii) A small industry can be started by an entrepreneur in his own
premises or rented premises.
(iii) An entrepreneur should start a business far away from the
customers residences.
(iv) Large amount of working capital is not required for small
business.
(v) Sales promotion technique should be used for marketing the
product.

Answer 1

Answer:

1. True
2. True
3. False
4. True
5. False.

Hope it helps you!

Answer 2

Answer:

i) It’s false, not only rich persons, but people who are ready to take risk by investing because of passion in business can start a business.

ii) It’s true, a small industry can be started by an entrepreneur in his own premises or rented premises. He can gain experience from this in order to expand it.

(iii) It’s false, an entrepreneur can start a business even among

customers residences.

(iv) It’s true, large amount of working capital is not required for small business.

(v) It’s true, sales promotion technique should be used for marketing the product.