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CBSE Class 9 Building Blocks in Economics — practice questions — page 3

Explore 115 free Building Blocks in Economics questions in CBSE Class 9 Social Science. Open each question or exercise to read its content, reference answers and available explanation.

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Building Blocks in Economics questions and exercises with answers

Showing questions 61–90 of 115.

In a planned economy, what do enterprises usually follow?Read the answer and worked solution →What is a business plan?Read the answer and worked solution →Why are written business plans often needed?Read the answer and worked solution →Who do externally-focused business plans mainly serve?Read the answer and worked solution →What do plans for a new product or factory refit target?Read the answer and worked solution →Which fields feed into a business plan?Read the answer and worked solution →What kind of collection is a business plan?Read the answer and worked solution →How long should an elevator pitch take to deliver?Read the answer and worked solution →A pitch deck is mainly which kind of presentation?Read the answer and worked solution →What is a pitch deck meant to trigger?Read the answer and worked solution →What do cost and revenue estimates help decide?Read the answer and worked solution →What mistake do planners often make?Read the answer and worked solution →What method was developed to reduce cost overruns?Read the answer and worked solution →What is the primary purpose of many business plans?Read the answer and worked solution →Where are business plans used to teach economic principles?Read the answer and worked solution →What do for-profit business plans typically focus on?Read the answer and worked solution →Which analysis is part of a start-up business plan's usual structure?Read the answer and worked solution →What kind of tools are business plans described as?Read the answer and worked solution →What must a business plan for a bank loan show?Read the answer and worked solution →With what does creating a business plan often begin?Read the answer and worked solution →What does entrepreneurship mainly involve?Read the answer and worked solution →Who is an entrepreneur, in simple words?Read the answer and worked solution →Which French economist gave a broad definition of entrepreneurship in the early 1800s?Read the answer and worked solution →How did Joseph Schumpeter describe an entrepreneur?Read the answer and worked solution →What term describes innovations that replace old industries with new ones?Read the answer and worked solution →Which is a source of financing for entrepreneurs?Read the answer and worked solution →What role do entrepreneurs play in a new enterprise?Read the answer and worked solution →Which risks does entrepreneurship involve taking on?Read the answer and worked solution →What do entrepreneurs tend to spot around them?Read the answer and worked solution →Which trait helps entrepreneurs seize opportunities?Read the answer and worked solution →

Worked practice questions

In a planned economy, what do enterprises usually follow?

  1. Market demand and prices
  2. Consumer surveys and polls
  3. Central authority's targets
  4. Foreign orders and contracts
Show answer and solution

Correct answer: C. Central authority's targets

Because planned economies restrict market demand, enterprises follow the central authority's targets.

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What is a business plan?

  1. A written plan of goals and how to reach them
  2. A machine that prints company bills and receipts
  3. A government law that fixes prices of goods
  4. A yearly list of the workers hired by the firm
Show answer and solution

Correct answer: A. A written plan of goals and how to reach them

A business plan is a formal written document that sets out a firm's goals, the methods to reach them and the timeframe.

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Why are written business plans often needed?

  1. To print a holiday schedule for staff
  2. To register a trademark for the name
  3. To get a bank loan or other financing
  4. To hire people for the sales team
Show answer and solution

Correct answer: C. To get a bank loan or other financing

Lenders want to see a written plan before they agree to a loan, so the plan shows the business can repay it.

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