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.
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.
Answer laterQuestion : Statement 1: Entrepreneurship 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 in stating that entrepreneurship is important for fostering innovation and introducing new products and services in the market.
Statement 2 is also true. The Pradhan Mantri Kaushal Vikas Yojana is a skill development initiative in India that provides training to young individuals to enhance their employability skills.
Question : Statement 1: The Pradhan Mantri Kaushal Vikas Yojana provides skill development training to youth for employability.
Statement 2: It supports startups and promotes entrepreneurship.
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. The Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is a skill development initiative in India that provides training to youth to enhance their employability skills.
Statement 2 is also true. While the primary focus of PMKVY is skill development, it indirectly contributes to supporting startups and promoting entrepreneurship by creating a skilled workforce that can actively participate in various sectors, including entrepreneurship.
Question : Statement 1: The Atal Innovation Mission supports women only 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 false.
Solution : The correct answer is (d) Both statements are false.
The Atal Innovation Mission (AIM) does not support women exclusively in the technology sector; rather, it aims to promote innovation and entrepreneurship across all sectors of the economy. I appreciate your patience and understanding.
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.
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 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 : 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 accurate. The Atal Innovation Mission is a government initiative in India that aims to promote a culture of innovation and entrepreneurship, particularly among young Indians.
Statement 2 is also true. The National Manufacturing Competitiveness Program is designed to enhance the competitiveness of Indian manufacturers, contributing to the growth and development of the manufacturing sector in the country.
Question : ______ scheme launched by the Central Government aims to promote entrepreneurship among people from Scheduled Castes or Scheduled Tribes.
Option 1: Pradhan Mantri Fasal Bima Yojana
Option 2: Gram Uday Se Bharat Uday Abhiyan
Option 3: Stand Up India scheme
Option 4: National Rurban Mission
Correct Answer: Stand Up India scheme
Solution : The correct option is Stand Up India scheme
The Indian government launched the Stand Up India campaign to support women entrepreneurs and people from the SC and ST communities. This program provides bank loans to qualifying participants ranging from Rs.10 lahk to Rs. 1 crore to help them start new enterprises. New enterprises or greenfield businesses are the target audience for the Stand Up India loans. It indicates that it is for recently established enterprises.
Question : It refers to the behavioural choice that individual makes for success in entrepreneurship.
Option 1: Entrepreneurial values and attitudes
Option 2: Need for power
Option 3: Need for affiliation
Option 4: Need for autonomy
Correct Answer: Entrepreneurial values and attitudes
Solution : Entrepreneurial values and attitudes refers to the behavioural choice individual makes for success in entrepreneurship.
Hence Option A is correct.
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:
What benefit did ABC Textiles experience by investing in employee training?
Option 1: Increased competition from other manufacturers
Option 2: Decreased productivity
Option 3: Better product quality and increased productivity
Option 4: Loss of market share
Correct Answer: Better product quality and increased productivity
Solution : The correct answer is (c) Better product quality and increased productivity
Investing in training employees in the latest technologies and innovative techniques resulted in improved skills and knowledge among the workforce. This, in turn, led to better product quality and increased productivity. The training helped the company adapt to technological advancements, enhancing its competitiveness in the market.
Question : Statement 1:The object of enterpreneurship is law full business.
Statement 2: Entrepreneurship has certain temperamental,skill and other knowledge and competency requirements that can be acquired.
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 : The object of entrepreneurship is lawful business. Entrepreneurship has skill and other knowledge and competency requirements that can be quiet learnt and developed both by formal education and vocational training as well as by observation and work experience.
Hence, option A is correct.
