Question : Case Study 1: Meet the Entrepreneur
Mr. Ravi, a young and dynamic individual, decided to start his own business. He established a small manufacturing unit that produces eco-friendly and sustainable packaging materials. His business has grown steadily, and he now employs several local workers. Mr. Ravi's venture has not only created job opportunities but also contributed to reducing plastic waste in the environment.
Question:
Mr. Ravi's decision to start his own business is an example of:
Option 1: Government intervention
Option 2: Entrepreneurship development
Option 3: Economic growth
Option 4: Consumer protection
Correct Answer: Entrepreneurship development
Solution : The correct answer is (b) Entrepreneurship development
Entrepreneurship involves the process of starting and operating a new business venture, typically to offer a product or service in the market. In this scenario, Mr. Ravi's decision to start his own business and establish a manufacturing unit that produces eco-friendly and sustainable packaging materials aligns with entrepreneurship development. This decision showcases initiative, innovation, and a commitment to addressing environmental concerns through business activities.
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.
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
What impact did Ms. Patel's boutique hotels have on the local community?
Option 1: Increased taxes
Option 2: Job opportunities
Option 3: Pollution
Option 4: Decreased tourist inflow
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.
The government's role in assisting the tech company demonstrates:
Option 1: Entrepreneurship discouragement
Option 3: Import restrictions
Option 4: Reduction in government expenditure
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