L-18
Entrepreneurship Development
A. One Word or One
Line Questions
Q. 1. Which are
four key factors of production?
Ans. Four key factors of production are land, labour,
capital and entrepreneur.
Q. 2. Who is an
entrepreneur?
Ans. An entrepreneur is a person who takes the
initiative to set-up a business unit.
Q. 3. Define Entrepreneurship Development.
Ans. Entrepreneurship Development refers to the process of development of entrepreneurial qualities of the entrepreneurs.
Q. 4. Write any
one feature of entrepreneurship development.
Ans. It is a system process of development
entrepreneurial qualities.
Q. 5. Describe
any one point highlighting the need for entrepreneurship development.
Ans. Entrepreneurship development is needed to promote
rapid economic growth in the country.
Q. 6. What is
Start-up India scheme?
Ans. It is a flagship initiative of the Government of
India to promote innovations and entrepreneurship in the country.
Q. 7. Which are
the three key areas of Start-up India scheme?
Ans. (i) Simplification and hand holding. (ii) Funding
support and incentives. (iii)
Industry
academia partnership and incubation.
Q. 8. What
should be the annual turnover of a business unit to be considered as under start-up India scheme?
Ans. Annual turnover should not exceed Rs. 100 crore
in any of the preceding years.
Q. 9. Write any
one feature of Start-up India Scheme.
Ans. It is a scheme which aims to encourage
entrepreneurship.
Q. 10. What is
crowd funding?
Ans. Under crowd funding, funds to finance a start-up
are collected from a large number of people.
B. Fill in the
blanks
1. The process of entrepreneurship is undertaken
by..............
2. ............. scheme aims to promote innovations
and entrepreneurship in India.
3. To be included under Start-up India Scheme, a
business entity must not be more than..............years old.
4. Start-up India scheme was launched in..............
5. If bank finance is not available, then start-ups
can be financed through.............
finance.
6. Intellectual property rights for literary and
artistic works are granted under..............
7. Products having geographical origin are protected
under..............
Ans.
1.entrepreneurs, 2. Start-up India, 3.ten, 4. August 2015, 5.micro,
6.copyright, 7.geographical indication
C. True or False
1. Entrepreneurship development helps to achieve a
rapid rate of economic growth.
2. Environmental factor do not play any role in
entrepreneurship development.
3. Starting India scheme is funded by the World Bank.
4. Industry-academia partnership is also one of the
key areas of Start-up India Scheme.
5. Start-up India scheme aims to promote innovations
and entrepreneurship development.
6. For getting benefits under Start-up India scheme, a
business unit need not be incorporated or registered in India.
7. Venture Capital is also a method to fund start-ups.
8. The property created with the help of human
intellect is known as Intellectual Property.
Ans.
1 2. False 3. False 4 5 6. False 7 8. True
D. MCQ
1. Why is
entrepreneurship development needed?
(a) To develop efficient entrepreneurs
(b) To encourage innovations
(c) Both (a) and (b)
(d) None of
these
2. When was
Start-up India scheme launched in India?
(a) January 26, 2015
(b) August 15, 2015
(c) October 02, 2015
(d) None of these
3. Which one of
the following is not one of the three key areas of Start-up India Scheme?
(a) Starting-up of a new business unit.
(b) Industry-academic partnership.
(c) Funding support and incentives.
(d) Simplification and handholding.
4. Which one of
the following is not true about Start-up India scheme?
(a) It aims to promote entrepreneurship in the
country.
(b) Tax benefits are not given to business units under
it.
(c) Both (a) and (b)
(d) None of these
5. Which one of
the following is a way to fund a Start-up in India?
(a) Boot Strapping
(b) Crowd Funding
(c) Both (a) and (b)
(d) None of these
6. Which of the
following statement is correct?
(a) Incubators provide funds to start-up in their
initial stages.
(b) Accelerators provide funds to start-up in their
initial stages.
(c) Both (a) and (b)
(d) None of these.
7. Those
start-ups which fail to get finance from banks, from where can those obtain funds?
(a) Micro finance and NBFCs
(b) Venture Capital
(c) Winning Contest Funds
(d) None of these
8. Which one of
the following is not a type of intellectual property?
(a) Industrial Design
(b) Venture Capital
(c) Trademark
(d) Copyright
9. Which one of
the following is not industrial property?
(a) Copyright
(b) Trademark
(c) Industrial Design
(d) All of these
10. Who among
the following don’t have copyrights?
(a) Authors
(b) Agriculturalists
(c) Artists
(d) Architects
Ans.
1. (c) 2. (b) 3. (a) 4. (b) 5. (c) 6. (a) 7. (a) 8. (b) 9. (a) 10. (b)
