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.
Answer laterQuestion : 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.
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 : 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
Option 4: All of the above
Correct Answer: All of the above
Solution : The correct answer is (d) All of the above.
Entrepreneurship development is important for several reasons, and all of the options mentioned are valid and interconnected reasons.
Overall, entrepreneurship development is crucial for economic vitality, job creation, fostering innovation, and promoting social progress. It not only benefits individuals who embark on entrepreneurial journeys but also contributes to the growth and well-being of societies as a whole.
Question : Which scheme aims to encourage entrepreneurship in rural areas of India?
Option 1: Atal Innovation Mission
Option 2: MUDRA Yojana
Option 3: National Manufacturing Competitiveness Program
Option 4: Pradhan Mantri Rojgar Protsahan Yojana
Correct Answer: MUDRA Yojana
Solution : The correct answer is (b) MUDRA Yojana.
MUDRA Yojana (Micro Units Development and Refinance Agency Yojana) is a scheme launched by the Government of India that aims to encourage entrepreneurship in rural areas as well as other parts of the country. MUDRA Yojana provides access to finance for micro and small enterprises, including those in rural areas, to support their business activities and promote entrepreneurship. Under the MUDRA Yojana, eligible individuals and enterprises can avail loans from financial institutions such as banks, non-banking financial companies (NBFCs), and microfinance institutions (MFIs) to start or expand their micro and small businesses. The scheme categorizes loans into three categories - Shishu (up to Rs. 50,000), Kishore (from Rs. 50,001 to Rs. 5 lakh), and Tarun (from Rs. 5,00,001 to Rs. 10 lakh) - to cater to the varying needs of entrepreneurs.
