Question : Statement 1:It implies other things attendance of the people to confirm to the wishes and norms of those who they have value.
Statement 2: Entrepreneurship believe to be low on affiliation as they are and expected to be innovative.
Option 1: Both are true
Option 2: Both are false
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 1 is false and statement 2 is true
Correct Answer: Both are true
Solution : Need for affiliation implies my other things attendance of the people to confirm to the wishes and norms of those who they value. Entrepreneurship believe to be low on affiliation as they are and expected to be innovative.
Hence, option A is correct.
Answer laterQuestion : Which government agency in India is responsible for entrepreneurship development?
Option 1: RBI (Reserve Bank of India)
Option 2: SEBI (Securities and Exchange Board of India)
Option 3: NITI Aayog
Option 4: SIDBI (Small Industries Development Bank of India)
Correct Answer: SIDBI (Small Industries Development Bank of India)
Solution : The answer is (d). SIDBI (Small Industries Development Bank of India) is responsible for entrepreneurship development in India.
SIDBI is a government-owned bank that provides financial and non-financial assistance to small and medium enterprises (SMEs). It also promotes entrepreneurship through various schemes and programs.
Here are some of the schemes and programs that SIDBI offers to promote entrepreneurship:
Entrepreneurship Development Programme (EDP)
Seed Capital Assistance Scheme (SCAS)
Micro Units Development and Refinance Agency (MUDRA) Scheme
Stand-Up India Scheme
These schemes and programs provide financial assistance, training, and mentoring to aspiring entrepreneurs. They help to create a conducive environment for entrepreneurship in India and to promote the growth of SMEs.
Question : In March 2020, the National Handicapped Finance and Development Corporation (NHFDC) organised a week-long fest to promote entrepreneurship and knowledge among the Divyangjan community. The fest was called:
Option 1: UTTAM
Option 2: EKAM
Option 3: SHRESHTA
Option 4: PRATHAM
Correct Answer: EKAM
Solution : The correct answer is EKAM.
The "EKAM Fest", a week-long Exhibition-cum-Fair organized by the National Handicapped Finance Development Corporation (NHFDC) under the Ministry of Social Justice and Empowerment, has commenced in New Delhi. Over 82 individuals with disabilities from 17 States/UTs are showcasing their products. The fest aims to promote entrepreneurship, knowledge and awareness among the disabled community while providing a significant marketing platform for their products.
Question : Statement 1: The Atal Innovation Mission aims to promote a culture of innovation and entrepreneurship among young Indians.
Statement 2: The National Manufacturing Competitiveness Program focuses on enhancing the competitiveness of Indian manufacturers.
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.
Correct Answer: Both statements are true.
Solution : The correct answer is (a) Both statements are true.
Statement 1 is correct. The Atal Innovation Mission (AIM) aims to promote a culture of innovation and entrepreneurship among young Indians.
Statement 2 is also true. The National Manufacturing Competitiveness Program focuses on enhancing the competitiveness of Indian manufacturers.
Question : What is the objective of the Stand Up India scheme?
Option 1: Promote entrepreneurship among women and SC/ST entrepreneurs
Option 2: Support the growth of startups in the technology sector
Option 3: Encourage foreign direct investment in India
Option 4: Provide employment opportunities to rural youth
Correct Answer: Promote entrepreneurship among women and SC/ST entrepreneurs
Solution : The correct answer is (a) Promote entrepreneurship among women and SC/ST entrepreneurs.
The objective of the Stand Up India scheme is to promote and support entrepreneurship among women and entrepreneurs from Scheduled Castes (SC) and Scheduled Tribes (ST) in India. The scheme aims to provide financial assistance, facilitate access to credit, and offer handholding support to help these underrepresented sections of society start and grow their own enterprises.
The Stand Up India scheme was launched by the Government of India in April 2016 as part of its broader efforts to promote inclusive growth and create opportunities for marginalized communities. It encourages banks to provide loans ranging from Rs. 10 lakh to Rs. 1 crore for setting up greenfield enterprises in manufacturing, services, or trading sectors. The scheme also promotes knowledge and skill development, capacity building, and mentorship to empower women and SC/ST entrepreneurs.
Question : It is the outcome of a dynamic process of interaction between a person and his environment.
Option 1: Entrepreneurship
Option 2: Entrepreneurship development
Option 3: Entrepreneur
Option 4: None of the above
Correct Answer: Entrepreneurship
Solution : Entrepreneurship does not emerge spontaneously. It is the outcome of a dynamic process of interaction between a person and the environment.
Hence Option A is correct.
Question : Statement 1: The Atal Innovation Mission supports entrepreneurs in the technology sector through funding and mentorship.
Statement 2: It aims to promote innovation and entrepreneurship across all sectors of the economy.
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.
Correct Answer: Both statements are true.
Solution : The correct answer is (a) Both statements are true.
Statement 1 is correct as the Atal Innovation Mission (AIM) does provide support, including funding and mentorship, to entrepreneurs in the technology sector.
Statement 2 is also true. AIM aims to promote innovation and entrepreneurship across all sectors of the economy, not limited to the technology sector.
Question : Case Study 5: Benefits of Entrepreneurship Development
ABC Textiles is a textile manufacturing company that has been operating for over two decades. Due to technological advancements, the company faced stiff competition from newer, more efficient manufacturers. The management decided to invest in training their employees in the latest technologies and innovative techniques, resulting in increased productivity and better product quality.
Question:
How did entrepreneurship development contribute to ABC Textiles' success?
Option 1: By reducing the number of employees
Option 2: By ignoring technological advancements
Option 3: By investing in employee training and innovation
Option 4: By shifting production to another country
Correct Answer: By investing in employee training and innovation
Solution : The correct answer is (c) By investing in employee training and innovation
ABC Textiles invested in training its employees in the latest technologies and innovative techniques, demonstrating a commitment to adapting and staying competitive in the market. This investment in employee training and innovation aligns with the principles of entrepreneurship development, fostering adaptability, and enhancing the company's overall success.
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
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.
Question : Statement 1: The Atal Innovation Mission aims to promote a culture of innovation and entrepreneurship among young Indians.
Statement 2: The National Manufacturing Competitiveness Program focuses on enhancing the competitiveness of Indian manufacturers.
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.
Correct Answer: Both statements are true.
Solution : The correct answer is (a) Both statements are true.
Statement 1 is correct. The Atal Innovation Mission (AIM) aims to promote a culture of innovation and entrepreneurship among young Indians.
Statement 2 is also true. The National Manufacturing Competitiveness Program focuses on enhancing the competitiveness of Indian manufacturers.
