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Small Business Test - 14

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Small Business Test - 14
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Weekly Quiz Competition
  • Question 1
    1 / -0
    ____________ is the "inside entrepreneur".
    Solution
    Intrapreneurship is like acting as an entrepreneur within the organization. Intrapreneurship is a step towards entrepreneurship. It focuses on self motivation and resolving a specific issues which ultimately helps in achieving the major goals. It focuses on minor goals and hence helps to achieve the entrepreneurship goals in long run. It is a combination of entrepreneurship and management skills.
  • Question 2
    1 / -0
    The Start-up scheme provides loans to entrepreneurs of
    Solution
    The Start up India scheme facilitates bank loans between 10 lakh and 1 crore to at least one schedule caste or schedule tribe borrower and at least one woman borrower per bank branch for setting up a green field enterprise. This enterise may be manufacturing,trading or service.
  • Question 3
    1 / -0
    Which of the following falls under the traditional industry?
    Solution
    Handicrafts.
    A handicraft, sometimes more precisely expressed as artisanal handicraft or handmade, is any of a wide variety of types of work where useful and decorative objects are made completely by hand or by using only simple tools. It is a traditional main sector of craft, and applies to a wide range of creative and design activities that are related to making things with one's hands and skill, including work with textiles, moldable and rigid materials, paper, plant fibers, etc.
  • Question 4
    1 / -0
    Which of the following is a modern industry?
    Solution
    Powerloom and Small Scale Industry.

    A power loom is a type of loom that is powered mechanically instead of using human power to weave patterns or thread into cloth. The power loom is an invention that combined threads to make cloth. Power looms were assembled in the weaving shed of a mill and driven by a steam engine by belts from overhead shafting. Power looms were a major advance over the hand looms used before.
    Small scale industries (SSIs) also known as MSMEs are defined & categorized by the Micro, Small & Medium Enterprises Development Act, 2006. The act categorizes different scale of industries on the basis of investment in plant & machinery in case of manufacturing industries and on the basis of investment in equipment in case of service sector industries.

  • Question 5
    1 / -0
    To simplify the regulatory framework the Government introduced the Ease of Doing Business wherein an MSME unit has to fill in a one page self-declaration online form called _______.
    Solution
    Udyog Aadhaar:-
    The idea behind introducing Udyog Aadhar was to simplify the procedural format that business owners had to go through in order to register their business under Micro Small Medium Enterprise or MSME.
    Udyog Aadhar is nothing but a government registration that is provided along with a recognition certificate and a unique number in order to certify small/medium businesses or enterprises.
    The central motive behind the launch of this facility was to offer a way to the government to provide the maximum benefits to medium or small-scale businesses or industries in India, who are registered via MSME through their Aadhar Card Number.
  • Question 6
    1 / -0
    Which parameter is used by Government of India to describe small industries?
    Solution
    The definition used by the Government of India to describe small industries is based on the investment in plant and machinery. This measure seeks to keep in view the socio-economic environment in India where capital is scarce and labour is abundant. 
  • Question 7
    1 / -0
    The entrepreneur who is committed to the entrepreneurial effort because it makes good business sense is classed a/an _________.
    Solution
    Opportunist Entrepreneur is the person who is able to find successful business opportunities. The entrepreneur who is committed to the entrepreneurial effort because it make good business sense is classified as opportunist entrepreneur.
  • Question 8
    1 / -0
    Who is faced with more income uncertainties?
    Solution
    An entrepreneur takes much risk to establish a business. He invest in his business with an uncertainty of returns . An entrepreneur faces income uncertainties as he is the owner not the employee.
  • Question 9
    1 / -0
    Social entrepreneurship is a revolution occurring around the world, where people from all walk of life are ---
    Solution
    A social entrepreneur is a person who develops or establishes an enterprise with the aim of solving social problems. Social entrepreneurship is a revolution occurring around the world, where people from all walk of life are developing and implementing innovative,effective and sustainable solutions in response to social and environmental challenges.
  • Question 10
    1 / -0
    Who among the following has given definition of social entrepreneurship?
    Solution
    Greg dee has given the definition of social entrepreneurship. The idea of "social entrepreneurship" has struck a responsive chord. It combines the passion of a social mission with an image of the business.A social entrepreneur is a person who develops or establishes an enterprise with the aim of solving social problems. 
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