Question : Which of the following is a benefit of entrepreneurship development?
Option 1: Increased income and wealth creation
Option 2: Job creation and reduced unemployment
Option 3: Innovation and technological advancement
Option 4: All of the above
Correct Answer: All of the above
Solution : The correct answer is (d) All of the above.
Entrepreneurship development offers various benefits that contribute to economic growth and societal progress.
a) Increased income and wealth creation: Entrepreneurship can create new opportunities for individuals to generate income and accumulate wealth. By starting and growing businesses, entrepreneurs have the potential to increase their personal income and create prosperity for themselves and their communities.
b) Job creation and reduced unemployment: Entrepreneurs are often the driving force behind job creation. They establish new businesses and expand existing ones, which leads to the creation of employment opportunities. By creating jobs, entrepreneurs contribute to reducing unemployment rates and supporting economic development.
c) Innovation and technological advancement: Entrepreneurs are known for their innovative thinking and ability to identify opportunities for new products, services, and processes. Through their ventures, they introduce innovative ideas, technologies, and business models that can disrupt existing markets and drive overall technological advancement. Entrepreneurship fosters a culture of innovation, encouraging creativity and pushing the boundaries of what is possible.
By combining these benefits, entrepreneurship development plays a crucial role in promoting economic growth, enhancing competitiveness, and improving the overall quality of life. It contributes to creating a dynamic and vibrant business ecosystem that fuels innovation, creates jobs, generates wealth, and addresses societal needs.
Question : Why is entrepreneurship development important?
Option 1: It promotes economic growth and development
Option 2: It provides job opportunities
Option 3: It fosters innovation and creativity
Question : The objective of the Atal Innovation Mission is to:
Option 1: Promote entrepreneurship and innovation in India
Option 2: Develop infrastructure for rural areas
Option 3: Enhance digital literacy across the country
Option 4: Improve the ease of doing business in India
Question : Assertion: Entrepreneurship development contributes to technological advancement and innovation.
Reason: Entrepreneurs invest in sales maximisation activities for growth.
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.
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