Entrepreneurship
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.
Question : herSTART, an initiative implemented by the Gujarat University Startup and Entrepreneurship, was launched by ____________in October 2022.
Option 1: Prime Minister Narendra Modi
Option 2: President Droupadi Murmu
Option 3: Defence Minister Rajnath Singh
Option 4: Finance Minister Nirmala Sitharaman
Correct Answer: President Droupadi Murmu
Solution : The correct option is President Droupadi Murmu.
herSTART, launched in October 2022, was inaugurated by President Droupadi Murmu. This women-led startup platform, developed by the Gujarat University Startup and Entrepreneurship Council (GUSEC), connects female entrepreneurs with private and government support systems, empowering their business ventures. So, remember President Murmu as the champion who gave herSTART a momentous launch, propelling women-powered businesses in Gujarat onto the national stage.
Question : Assertion: The Pradhan Mantri Kaushal Vikas Yojana provides skill development training to youth for employability.
Reason: It supports startups and promotes entrepreneurship.
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: The assertion is true, but the reason is false.
Solution : The correct answer is (c) The assertion is true, but the reason is false.
The Pradhan Mantri Kaushal Vikas Yojana primarily focuses on providing skill development training to enhance the employability of youth. While skill development is crucial for employability, the scheme is not specifically designed to support startups or promote entrepreneurship. Therefore, the reason does not correctly explain the assertion.
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.
Reason: It aims to promote skill development and entrepreneurship among young individuals.
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 : 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.
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.
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