Entrepreneurship
Question : The National Rural Livelihoods Mission (NRLM) in India focuses on:
Option 1: Enhancing agricultural productivity.
Option 2: Providing social security benefits to workers.
Option 3: Promoting self-employment and entrepreneurship in rural areas.
Option 4: Supporting small and medium enterprises (SMEs).
Correct Answer: Promoting self-employment and entrepreneurship in rural areas.
Solution : The correct answer is (c) Promoting self-employment and entrepreneurship in rural areas.
The National Rural Livelihoods Mission (NRLM) in India primarily focuses on promoting self-employment and entrepreneurship in rural areas. It aims to alleviate rural poverty and improve livelihoods by organizing rural poor households into self-help groups (SHGs) and supporting them in developing sustainable livelihoods. NRLM provides various interventions such as access to credit, skill development, capacity building, market linkages, and social security to empower rural households and enable them to generate income and become self-reliant. The mission is implemented by the Ministry of Rural Development.
Question : Taking personal pain to complete a task as scheduled. Which competencies of entrepreneurship is highlighted here?
Option 1: Persistence
Option 2: Information seeking
Option 3: Concern for high quality of work
Option 4: Commitment to work contract
Correct Answer: Commitment to work contract
Solution : Commitment to work contract is highlighted here. It involves taking personal pain to complete a task and schedule. Hence Option D is correct.
Question : Statement 1: Entrepreneurship development is important for fostering innovation and introducing new products and services in the market.
Statement 2: The Pradhan Mantri Kaushal Vikas Yojana provides skill development training to young individuals for employability.
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 accurate. Entrepreneurship development is indeed important for fostering innovation and introducing new products and services in the market.
Statement 2 is also true. The Pradhan Mantri Kaushal Vikas Yojana provides skill development training to young individuals to enhance their employability.
Question : Case Study 11: Role of Government Schemes
A group of young entrepreneurs started a tech company with a vision to bridge the digital divide in rural areas. The government supported their initiative by providing financial assistance and incentives.
Question:
The government's role in assisting the tech company demonstrates:
Option 1: Entrepreneurship discouragement
Option 2: Entrepreneurship development
Option 3: Import restrictions
Option 4: Reduction in government expenditure
Correct Answer: Entrepreneurship development
Solution : The correct answer is (b) Entrepreneurship development
By providing financial assistance and incentives to support the tech company's initiative in bridging the digital divide in rural areas, the government is actively contributing to entrepreneurship development. This support encourages and facilitates the growth of entrepreneurial ventures that address societal challenges and promote economic development.
Question : Statement 1: Entrepreneurship development refers to the process of enhancing the skills, knowledge, and resources of individuals to enable them to start and grow their own businesses.
Statement 2: The government's Startup India initiative aims to provide financial support and incentives to startups to foster innovation and job creation.
Statement 1 accurately defines entrepreneurship development as the process of enhancing the skills, knowledge, and resources of individuals to enable them to start and grow their own businesses.
Statement 2 correctly describes the government's Startup India initiative, which indeed aims to provide financial support and incentives to startups to foster innovation and job creation.
Question : Assertion: The Pradhan Mantri Kaushal Vikas Yojana provides skill development training to youth for employability.
Reason: It aims to promote skill development and entrepreneurship among young individuals.
Option 1: Both assertion and reason are true, and the reason correctly explains the assertion.
Option 2: Both assertion and reason are true, but the reason does not correctly explain the assertion.
Option 3: The assertion is true, but the reason is false.
Option 4: The assertion is false, but the reason is true.
Correct Answer: Both assertion and reason are true, and the reason correctly explains the assertion.
Solution : The correct answer is (a) Both assertion and reason are true, and the reason correctly explains the assertion.
The Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is a skill development initiative in India that aims to provide training to youth for employability. The reason is also accurate, as one of the objectives of PMKVY is to promote not only skill development but also entrepreneurship among young individuals, contributing to their overall employability.
Question : Assertion: Entrepreneurship development contributes to technological advancement and innovation.
Reason: Entrepreneurs invest in sales maximisation activities for growth.
Correct Answer: Both assertion and reason are true, but the reason does not correctly explain the assertion.
Solution : The correct answer is (b) Both assertion and reason are true, but the reason does not correctly explain the assertion.
While both the assertion and reason are true, the reason provided doesn't accurately explain the assertion. Entrepreneurship development does contribute to technological advancement and innovation, but the reason incorrectly suggests that entrepreneurs invest in sales maximization activities for growth. Entrepreneurs may invest in various activities, including research and development, to foster innovation and technological advancement, and not necessarily just in sales maximization activities.
Question : Assertion: The MGNREGA programme supports entrepreneurs in the technology sector through funding and mentorship.
Reason: It aims to promote innovation and entrepreneurship across all sectors of the economy.
Option 4: The assertion is false and the reason is false.
Correct Answer: The assertion is false and the reason is false.
Solution : The correct answer is (d) The assertion is false, and the reason is also false.
The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is a social welfare program in India that guarantees 100 days of wage employment per year to rural households. It is not specifically designed to support entrepreneurs in the technology sector through funding and mentorship.
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.
How does the tech startup's mobile application benefit farmers?
Option 1: By increasing the involvement of middlemen
Option 2: By providing affordable produce for consumers
Option 3: By reducing their profit margins
Option 4: By hiring more employees
Correct Answer: By providing affordable produce for consumers
Solution : The correct answer is (b) By providing affordable produce for consumers
The mobile application connects farmers directly to consumers, eliminating the need for middlemen. This direct connection can result in better prices for farmers and, in turn, provide affordable produce for consumers. The removal of middlemen helps streamline the supply chain, ensuring that farmers receive a fair share of the proceeds from their produce.
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