An undertaking owned and operated by an individual or a group of individuals to produce and/or distribute goods and services, mainly for sale, is called a/an:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Enterprise
An enterprise is an undertaking run by one person or a group to make or sell goods and services, mainly for sale. A cement shop is an example.
The public sector is the part owned and run by the government. An employment exchange is an office where job seekers register. An industrial division is one of the eight groups of economic activities, such as manufacturing.
NCERT (2026-27): Glossary: “Enterprise – An undertaking owned and operated by an individual or by group of individuals to produce and/or distribute goods and/or services mainly for the purpose of sale, whether fully or partly.” |