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Small Business Test - 20

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Small Business Test - 20
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Coir industry is a _____________.
    Solution
    Coir industry is a traditional small scale industry.

    The Indian coir industry is an important cottage industry contributing significantly to the economy of the major coconut-growing States and Union Territories such as Kerala, Tamil Nadu, Andhra Pradesh, Karnataka, Maharashtra, Goa, Orissa, Assam, Andaman & Nicobar, Lakshadweep and Puducherry.
    Coir, or coconut fibre, is a natural fibre extracted from the husk of coconut and used in products such as floor mats, doormats, brushes and mattresses. Coir is the fibrous material found between the hard, internal shell and the outer coat of a coconut
  • Question 2
    1 / -0
    When we say it is continuous learning, thinking and questioning outside of prescribed Formulae it is
  • Question 3
    1 / -0
    All of the following are recognized as potential sources of entrepreneurial ideas, EXCEPT ___________.
  • Question 4
    1 / -0
    It is NOT a large scale industry________________.
    Solution

    Large Scale Industries are those industries that require a huge amount of capital investment in fixed assets. The investment in fixed assets that need to be done to run a large scale industry is more than 10 crores.  In India, Information Technology, Automobile, Sugar, Tea, Telecom, Electronic, etc are termed as large-scale industries as they require huge infrastructure and manpower for operational purposes. Fashion technology or fashion industry doesn't fall under the category of large scale industry. 

  • Question 5
    1 / -0
    Which of the following statement is true for small scale industries?
    Solution

    Small Scale Industries are labour intensive industries that provide employment opportunities to the people of rural areas. As the availability of capital is limited in the market, therefore with the establishment of small-scale industries this can be overcome. But the Opportunities in the small industries are rare because of limited resources and capital. Thus, the option ‘D’ is correct. 

  • Question 6
    1 / -0
    Out of the following schemes which schemes launched by the Government of India aims at enhancing the livelihood security of the people in rural areas by guaranteeing hundreds days of employment in a financial year to a rural household whose adult members volunteer to do unskilled manual work?
    Solution
    "Mahatma Gandhi National Rural Employment Guarantee Act", MGNREGA, is an Indian labour law and social security measure that aims to guarantee the 'right to work'.
    It aims to enhance livelihood security in rural areas by providing at least 100 days of wage employment in a financial year to every household whose adult members volunteer to do unskilled manual work.
    The MGNREGA was initiated with the objective of "enhancing livelihood security in rural areas by providing at least 100 days of guaranteed wage employment in a financial year, to every household whose adult members volunteer to do unskilled manual work"
  • Question 7
    1 / -0
    Invariably a drawback of traditional small scale industry is ___________.
    Solution

    There are many challenges that small scale industries use to face because of lack of adequate capital, resources, technology, and much more. There is one main problem associated with the small scale industry that the people who are working in such industries are usually not employed for the whole year as seasonal employment is seen much in such industries, where labours used to work for a particular season and rest of the season they remain unemployed or keep on looking for other opportunities for their survival.  

  • Question 8
    1 / -0
    Small-scale sector units is/are.
    Solution
    Requirement of less capital
    Small Scale Industries require less capital when compared to large scale industries. India is a capital scarce country and therefore Small Scale Industries are more suitable in the Indian context. They can be started and run by small entrepreneurs who have limited capital resources
  • Question 9
    1 / -0
    Which of the following is/are included in 'traditional small industries'?
    $$1$$. Village industries
    $$2$$. Natural gas
    $$3$$. Handicrafts
    $$4$$. Cement
    $$5$$. Sericulture & coir
    Select the correct answer from the options given.
    Solution
    Traditional small scale are industries which are highly labour intensive and the production is on a small scale as well. Traditional small industries include handicrafts, village industries and sericulture & coir.
  • Question 10
    1 / -0
    In 1979-80 the ratio of total output is to total, share in employment for Traditional small scale industry is __________.
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