AmbifulWorksheets
Practice that never repeats
CBSE · Class 9 · Social Science

From Ideas to Startups

Standard difficulty · 20 questions · 40 marks

Name: Date: Score: ____ / 40

Write full answers in Sections B and C. Answers are on the last page — try every question first!

Section A — Choose the correct answer8 × 1 = 8 marks
1.
Turning an idea into a business venture is:
  1. taxation
  2. governance
  3. inflation
  4. entrepreneurship
2.
Is this a fixed or a variable cost: insurance of the building?
  1. fixed
  2. loan
  3. tax
  4. profit
3.
What does finance and accounting focus on?
  1. making laws for the business
  2. deciding interest rates for banks
  3. running production and quality
  4. budgets, records and cash flow
4.
What is meant by “mortgage”?
  1. a loan backed by property
  2. turning an idea into a business
  3. money earned from sales
  4. recording and reporting money transactions
5.
In the chapter, Mohan Singh Oberoi is remembered for:
  1. inventing the computer
  2. building a hotel group from a ₹50-a-month job
  3. founding the first railway
  4. an ink-powder business begun in 1931
6.
A bakery’s income for a month is ₹560,000 and its expenses are ₹500,000. What is its profit before tax?
  1. ₹65,000
  2. ₹1,060,000
  3. ₹500,000
  4. ₹60,000
7.
A lemonade stall sells 103 glasses at ₹25 each. Each glass costs ₹20 to make. What is the profit?
  1. ₹108
  2. ₹2,575
  3. ₹515
  4. ₹2,060
8.
Oberoi bought his first hotel in 1934; Lijjat began on a rooftop in 1959. How many years apart were these?
  1. 35 years
  2. 26 years
  3. 25 years
  4. 22 years
Section B — Short answer8 × 2 = 16 marks
9.
Name three things an entrepreneur does.
10.
Fixed or variable cost? (a) lemons for each glass of lemonade (b) packaging for each box
11.
What does each functional area focus on? (a) management and operations (b) finance and accounting
12.
Explain each term: (a) chawl (b) mortgage
13.
Mohan Singh Oberoi began as a hotel clerk on ₹50 a month. How much would he earn in a year, and in 14 years at that pay?
14.
Lijjat began in 1959 and was registered in 1962. (a) How many years after starting was it registered? (b) How many years before 2037 did it begin?
15.
A business has a profit before tax of ₹63,000 and pays ₹11,000 in tax. What is its profit after tax?
16.
Which came first, and by how many years? (a) Lijjat was registered (1962) (b) Lijjat began on a rooftop (1959)
Section C — Longer answers4 × 4 = 16 marks
17.
Tell the story of Lijjat papad.
18.
Match each with its meaning: (a) chawl (b) entrepreneurship (c) inventory. Choose from: goods held to make or sell; a crowded multi-storey tenement; turning an idea into a business.
19.
A teen bakery’s month: sales of bread ₹141,000, pastries ₹64,000, cakes ₹67,000; rent ₹50,000, salaries ₹34,000, raw materials ₹110,000, packaging ₹12,000. (a) Total income? (b) Total expenses? (c) Profit or loss before tax?
20.
What can a young entrepreneur learn from the Dandekar brothers and the Amul founders?
AmbifulWorksheets
Practice that never repeats
CBSE · Class 9 · Social Science

Answer key

From Ideas to Startups · AW-9SS-IST-2026-V1 · For parents — fold back or tear off before handing the sheet to your child.

QAnswerWorking
1(d) entrepreneurship—
2(a) fixed—
3(d) budgets, records and cash flow—
4(a) a loan backed by property—
5(b) building a hotel group from a ₹50-a-month job—
6(d) ₹60,000560,000 − 500,000
7(c) ₹515103 × (25 − 20)
8(c) 25 years1959 − 1934 = 25
9Takes risks with money and time, spots a problem and solves it in a new way, and combines the factors of production (also makes key decisions).—
10(a) variable (b) variable—
11(a) running production and quality (b) budgets, records and cash flow—
12(a) a crowded multi-storey tenement (b) a loan backed by property—
13₹600 a year; ₹8,400 in 14 years50 × 12; × 14
14(a) 3 years (b) 78 years1962 − 1959; 2037 − 1959
15₹52,00063,000 − 11,000
16Lijjat began on a rooftop, by 3 years1962 − 1959
17In 1959 seven homemakers in a Mumbai chawl began making papads with ₹80; as a cooperative of equal owners with strict quality, it grew to tens of thousands of members and a huge turnover.—
18(a) a crowded multi-storey tenement (b) turning an idea into a business (c) goods held to make or sell—
19(a) ₹272,000 (b) ₹206,000 (c) profit of ₹66,000—
20The Dandekar brothers: an ink-powder business begun in 1931; the Amul founders: a dairy cooperative owned by milk producers in Gujarat. Lessons such as hard work, quality, trust, saving and taking sensible risks.—