Class 8 Computer Science Notes, Unit 6: Entrepreneurship in Digital Age -- Exercise Short Response and Miscellaneous (within the chapter) Questions and Answers

Class 8 Computer Science Notes for 8th Centralized Exam 2023 
and onward, FDE, Islamabad 

Unit-6 

"Entrepreneurship in Digital Age"

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Class 8 Computer Science MCQs (All Units Exercise) 

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1. Exercise Short Response Questions and Answers:

Q1.  Describe the basic components of a business plan?

Ans:

1. Customer needs:

A customer needs analysis is the process of identifying the requirement of the customer about a product or service. The need can be known or unknown. The goal of the customer need analysis is to determine the market gaps for new products to launch and penetrate the existing market.

2. Product design:

Product design is the process that involves steps to launch a successful product based on user requirements and ultimately acquires customer satisfaction, theoretically. The key to successful product design is to understand the exact requirement of the end-user for whom the product is being designed

3. Costing:

A business plan includes the set-up estimated costs like legal costs, attorney fees, license fees, etc. The plan should also include funding to cover other expenses, revenue collected against sales, and profit or loss.

4. Operations:

The operation includes the objectives, goals, procedures, and timeline of your organization. An operation plan assists the businessman to meet deadlines. The operation component of the plan would include procurement, manufacturing, and logistics strategies that enable the firm to boost production to support revenue growth.

Marketing:

It is the action or business of promoting and selling products or services, including market research and advertising. The marketing plan includes the identification of a product, determining demand, deciding on its price, and selecting distribution channels.

Q2. Describe the four elements of marketing?

Ans:

1. Product:

A product (goods and services) is the main entity that your business offers to the end-users. 

2. Price:

Price is an important element to decide to keep in mind the competitive price of the product. For example, a cheaper product is always less in quantity.

3. Promotion:

This includes the packaging and position/place of the product or service in the marketplace, where customers can be attracted. Marketing tools are used to promote the sales of a particular product or service.

4. Place:

The success of the business is also based on the location of the outlet and the made of sale either by e-commerce or telephone or your product being carried in retail outlets.

Q3. What is the difference between payment and transactions?

Ans:

Payment:

It is the transfer of money against the purchase of goods and services.

Transactions:

It is an agreement between a buyer and seller to exchange goods, services, or financial assets in return for money.

Q4. Why a quality assurance is important to assess the quality of products or services?

Ans:

Quality assurance focuses on improving the development process and making it efficient and effective as per the quality standards defined for the products. That’s why quality assurance is important to assess the quality of products or services.

Q5. Write down the three advantages and three disadvantages of digital marketing?

Ans:

Advantages: 

1. Removed all sorts of geographical barriers.
2. Extremely low risks
3. Wins customer loyalty

Disadvantages:

1. Depends on technology
2. Security, and privacy issues
3. Worldwide competitions through globalization

2. Miscellaneous Questions and Answers (Within the Unit):

Q.1.  Define a business plan?

Ans:

A business plan describes the company’s goal, strategy, and implementation for the growth of the organization

Q2. Define the term marketing?

Ans: 

Marketing is the action or business of promoting and selling products or services, including market research and advertising.

Q3. Define SEO?

Ans: 

Search engine optimization (SEO) is the process of improving your website to increase its visibility when people search for the product or service related to your business in different search engines.

Q4. List the different methods of payment?

Ans: 

1. Credit card
2. Debit card
3. Interbank transfer
4. Easypaisa
5. JazzCash 

etc.

Q5.  Define digital marketing?

Ans:

Digital marketing is a tool used to promote brands and connect with potential customers online

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