Question : "Udyam Abhilasha" is a national-level entrepreneurship awareness campaign launched by which among the following in 2018?
Option 1: The National Bank for Agriculture and Rural Development
Option 2: UCO Bank
Option 3: Arunachal Pradesh Rural Bank
Option 4: Small Industries Development Bank of India
Correct Answer: Small Industries Development Bank of India
Solution : The correct answer is Small Industries Development Bank of India.
"Udyam Abhilasha" is a national-level entrepreneurship awareness campaign launched by the Small Industries Development Bank of India (SIDBI) in 2018. The campaign aims to inspire rural youth to take up entrepreneurship as a career and to create awareness about various opportunities available in the micro, small, and medium enterprises (MSME) sector.
Answer laterQuestion : 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:
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.
Question : Case Study 7: Impact of Entrepreneurship on Employment
Ms. Patel, a successful entrepreneur, founded a chain of boutique hotels in various tourist destinations across the country. Her hotels have not only attracted tourists but also provided job opportunities to the local community.
Question:
Ms. Patel's role as an entrepreneur has contributed to:
Option 1: Decreased tourist attractions
Option 2: Increased pollution in tourist destinations
Option 3: Economic development and employment generation
Option 4: Decline in the hospitality industry
Correct Answer: Economic development and employment generation
Solution : The correct answer is (c) Economic development and employment generation
Ms. Patel's founding of a chain of boutique hotels in various tourist destinations has likely contributed to economic development in those areas. Additionally, by providing job opportunities, her entrepreneurship has contributed to employment generation in the local community.
Question : Statement 1:The entrepreneurs are born rather than made.
Statement 2: Entrepreneurship is systematic step by step and purposeful activity.
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: Statement 1 is false and statement 2 is true.
Solution : It is a myth that entrepreneurs are born rather than made. Entrepreneurship is systematic step by step and purposeful activity.
Hence, option D is correct.
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.
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 : 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.
