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  1. Explain the relationship between entrepreneurship and economic development. 10

Ans 1.

Relationship Between Entrepreneurship and Economic Development

Entrepreneurship and economic development are intricately linked, with entrepreneurship playing a pivotal role in driving economic growth, innovation, and prosperity within societies. This relationship can be understood through various perspectives, ranging from job creation to technological advancement and wealth generation. Here, we explore how entrepreneurship fuels economic development:

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  1. List the functions of mentors. Explain in detail the types of mentoring. 10

Functions of Mentors and Types of Mentoring

Mentors play a crucial role in guiding, supporting, and developing individuals in various aspects of their personal and professional lives. Their functions can be diverse, ranging from providing advice and




  1. Explain the feasibility study in a business plan? How feasibility study is different from business plan? 5+5

Feasibility Study in a Business Plan:

A feasibility study is a critical component of a business plan that assesses the viability and potential success of a proposed business venture. It involves conducting a comprehensive analysis of various factors to determine whether the business idea is feasible and worth pursuing. The feasibility study typically examines aspects such as market demand, financial projections,


  1. What is social entrepreneurship? What are the challenges faced by social entrepreneurs?

Ans 4.

Social Entrepreneurship:

Social entrepreneurship refers to the practice of leveraging entrepreneurial principles and methods to address social, environmental, or community issues. Social entrepreneurs are driven by a mission to create positive social change and improve the well-being of


  1. Explain different stages of business. At which stage is harvesting possible? 2+8

Ans 5.

Different Stages of Business:

  1. Seed Stage:
    • The seed stage is the earliest phase of a business, where the idea is conceived, and initial planning and research are conducted.


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  1. Suppose you are planning to open the restaurant. While writing a business plan for your idea, what will you include under the components market analysis, business description, and financial analysis? 5+5

Ans 6.

Components of a Business Plan for a Restaurant:

Market Analysis:

  1. Target Market Identification: Define the target demographic for the restaurant, including factors such as age, income level, lifestyle, and preferences. Consider conducting market research to understand the needs and preferences of potential customers.
  2. Competitive Analysis: Evaluate the competitive landscape by identifying existing restaurants in the area, their offerings, pricing, and positioning. Analyze their strengths, weaknesses, opportunities, and