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4 Views

Question : Case Study 10: Entrepreneurship and Economic Growth

A group of young graduates decided to start a tech startup. They developed an innovative mobile application that connects farmers directly to consumers, eliminating the need for middlemen. This resulted in better prices for farmers and affordable produce for consumers.

Question:

The startup's app contributes to economic growth by:

Option 1: Increasing the cost of agricultural products
  

Option 2: Creating more middlemen
   

Option 3: Promoting direct farmer-consumer interactions

 

Option 4: Limiting the reach of agricultural products

Team Careers360 20th Jan, 2024

Correct Answer: Promoting direct farmer-consumer interactions

 


Solution : The correct answer is (c) Promoting direct farmer-consumer interactions

The mobile application, by connecting farmers directly to consumers and eliminating the need for middlemen, promotes direct interactions between farmers and consumers. This can lead to economic growth by creating more efficient and transparent markets, ensuring fair prices for farmers and providing consumers with affordable produce. The direct interaction facilitated by the app contributes to a more sustainable and inclusive agricultural ecosystem.

7 Views

Question : Statement 1: Successful entrepreneurs not only create wealth for themselves but also contribute to the economic development of the nation.

Statement 2: The Make in India initiative aims to boost agricultural activities in the country.

Option 1: Both statements are true.
 

Option 2: Statement 1 is true, but statement 2 is false.
 

Option 3: Statement 2 is true, but statement 1 is false.

 

Option 4: Both statements are false.

Team Careers360 23rd Jan, 2024

Correct Answer: Statement 1 is true, but statement 2 is false.
 


Solution : The correct answer is b) Statement 1 is true, but statement 2 is false.

Statement 1 is accurate. Successful entrepreneurs often contribute to the economic development of the nation by creating wealth, generating employment, and fostering innovation.

Statement 2, however, is not true. The Make in India initiative primarily focuses on boosting manufacturing and promoting India as a global manufacturing hub. It is not specifically aimed at agricultural activities.

17 Views

Question : Disguised unemployment in India is mainly related to:

Option 1: agricultural sector

Option 2: rural area

Option 3: factory sector

Option 4: urban area

Team Careers360 19th Jan, 2024

Correct Answer: agricultural sector


Solution : The correct answer is the agricultural sector.

Agriculture is the primary source of disguised unemployment in India. Agriculture employs the most people in India, accounting for more than half of the total. However, agricultural production is low, and there is an excess of labour. Because it is not creating anything, this surplus labour is disguised as jobless. Disguised unemployment occurs when more individuals are employed in a specific activity or sector than are required to generate the output successfully.

23 Views

Question : The 'License Raj' in India refers to:

Option 1: The system of obtaining licenses for industrial activities

Option 2: The system of licensing journalists

Option 3: The system of licensing foreign tourists

Option 4: The system of obtaining licenses for agricultural activities

Team Careers360 21st Jan, 2024

Correct Answer: The system of obtaining licenses for industrial activities


Solution : The correct answer is (a) The system of obtaining licenses for industrial activities

The 'License Raj' in India refers to the system of obtaining licenses for industrial activities. During the period of economic regulation and control in India, which lasted from the 1950s to the 1990s, the government implemented a complex system of licenses and permits for industrial activities. This system involved extensive government intervention and control over the private sector, including regulations on investment, production, pricing, and capacity expansion. The 'License Raj' created a bureaucratic and restrictive environment for businesses, leading to inefficiencies and hindering economic growth.

9 Views

Question : Urban settlements are typically found in areas with:

Option 1: High agricultural potential

Option 2: Industrial and commercial hubs

Option 3: Low population density

Option 4: Predominantly forested areas

Team Careers360 19th Jan, 2024

Correct Answer: Industrial and commercial hubs


Solution : Correct Option: Option 2
Explanation: Urban settlements are typically found in areas with industrial and commercial hubs, which provide employment and services to the urban population.

7 Views

Question : Which of the following is not a measure to reduce rural poverty in India?

Option 1: Increasing agricultural productivity

Option 2: Promoting non-farm employment opportunities

Option 3: Enhancing access to credit facilities for farmers

Option 4: Privatization of public sector enterprises

Team Careers360 19th Jan, 2024

Correct Answer: Privatization of public sector enterprises


Solution : The correct answer is (d) Privatization of public sector enterprises.

Privatization of public sector enterprises is not a specific measure aimed at reducing rural poverty in India. Privatization refers to the transfer of ownership and control of public sector enterprises to the private sector. While privatization can have various economic and efficiency implications, it is not a targeted measure specifically designed to address rural poverty.

12 Views

Question : Assertion: Agricultural marketing helps farmers in getting fair prices for their produce.

Reason: It eliminates middlemen and allows direct interaction between farmers and consumers.

Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
  

Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.
 

Option 3: Assertion is true, but the reason is false.

 

Option 4: Assertion is false, but the reason is true.

Team Careers360 18th Jan, 2024

Correct Answer: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
  


Solution : The correct answer is (a) Both assertion and reason are true, and the reason is the correct explanation of the assertion.

Agricultural marketing plays a crucial role in ensuring that farmers receive fair prices for their produce. It involves the process of selling and distributing agricultural products from the farmers to the consumers. The reason provided is that agricultural marketing helps in eliminating middlemen and allows direct interaction between farmers and consumers. This direct interaction can lead to better price negotiation and transparency in transactions, ensuring that farmers receive a fair value for their produce. By bypassing intermediaries, farmers can potentially earn higher profits and have more control over their pricing and market access. Therefore, the reason correctly explains why agricultural marketing helps farmers in getting fair prices for their produce.

36 Views

Question : The National Apprenticeship Promotion Scheme (NAPS) in India aims to:

Option 1: Encourage self-employment among youth

Option 2: Provide unemployment benefits to unemployed individuals

Option 3: Promote apprenticeship training for skill development

Option 4: Enhance agricultural productivity

Team Careers360 19th Jan, 2024

Correct Answer: Promote apprenticeship training for skill development


Solution : The correct answer is (c) Promote apprenticeship training for skill development.

The National Apprenticeship Promotion Scheme (NAPS) in India aims to promote the apprenticeship training system by providing financial incentives to employers who engage apprentices in their organizations. The scheme aims to enhance the employability of youth by providing them with industry-relevant skills and practical training through apprenticeships. It encourages the private sector to participate in the apprenticeship program and creates a conducive environment for skill development and on-the-job training.

15 Views

Question : Assertion: Land degradation is a significant environmental challenge that hinders sustainable development.

Reason: Land degradation reduces agricultural productivity, biodiversity, and ecosystem services.

Option 1: Both assertion and reason are correct, and the reason is the correct explanation of the assertion.

Option 2: Both assertion and reason are correct, but the reason is not the correct explanation of the assertion.

Option 3: Assertion is correct, but the reason is incorrect.

Option 4: Assertion is incorrect, but the reason is correct.

Team Careers360 22nd Jan, 2024

Correct Answer: Both assertion and reason are correct, and the reason is the correct explanation of the assertion.


Solution : The correct answer is (a) Both assertion and reason are correct, and the reason is the correct explanation of the assertion.

The assertion states that land degradation is a significant environmental challenge that hinders sustainable development. The reason provided is that land degradation reduces agricultural productivity, biodiversity, and ecosystem services.

Land degradation refers to the deterioration of land quality, typically caused by human activities such as deforestation, overgrazing, unsustainable agricultural practices, and urbanization. It is a significant environmental challenge because it can lead to the loss of fertile soil, reduced water availability, increased erosion, and decreased vegetation cover. Land degradation can negatively impact ecosystems, biodiversity, and human well-being.

The reason provided correctly explains the negative impacts of land degradation. When land is degraded, it loses its ability to support productive agricultural systems, leading to reduced agricultural productivity and food security. Land degradation also results in the loss of habitat and biodiversity, as many species depend on healthy ecosystems for their survival. Additionally, land degradation can disrupt ecosystem services such as water purification, soil fertility, and climate regulation, further impacting human societies and the environment.

Therefore, both the assertion and the reason are correct, and the reason provides the correct explanation for the assertion.

6 Views

Question : What was a major criticism of the implementation of the 'Garibi Hatao' campaign?

Option 1: Overemphasis on urban development

 

Option 2: Inadequate attention to agricultural reforms

Option 3: Lack of transparency in fund allocation

Option 4: Neglect of environmental concerns

Team Careers360 23rd Jan, 2024

Correct Answer: Lack of transparency in fund allocation


Solution : A major criticism of the implementation of the 'Garibi Hatao' campaign was the lack of transparency in fund allocation, leading to concerns about corruption and mismanagement of resources.

 

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