Unit 5 - INDIAN ECONOMY- BBA 2nd Sem

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1 Question: What is the primary focus of the service sector in an economy?

Correct!

Wrong :(

Answer - b) Providing intangible services

Description: The service sector primarily involves the provision of intangible services such as education, healthcare, tourism, and financial services.

2. Question: What is the significance of entrepreneurship in the business world?

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Answer - b) Creates jobs and fosters innovation

Description: Entrepreneurship plays a crucial role in job creation and driving innovation, contributing to economic development.

3. Question: Which financial institution regulates and supervises the banking system in India?

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Wrong :(

Answer - a) Reserve Bank of India (RBI)

Description: The RBI is the central banking institution in India responsible for regulating and supervising the countrys banking system.

4. Question: What is the primary function of commercial banks in an economy?

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Answer - c) Facilitating financial transactions

Description: Commercial banks play a key role in facilitating financial transactions, offering services such as deposits, loans, and payment services.

5. Question: In the context of entrepreneurship, what does SWOT analysis assess?

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Answer - c) Internal strengths and weaknesses, external opportunities and threats

Description: SWOT analysis is a strategic planning tool that evaluates internal and external factors affecting a business, helping identify strengths, weaknesses, opportunities, and threats.

6. Question: Which sector is known for its emphasis on creativity, innovation, and intellectual property?

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Answer - b) Service sector

Description: The service sector, being intangible, often relies on creativity, innovation, and intellectual property, making it distinct from other sectors.

7. Question: What is the primary source of funding for small-scale industries in India?

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Answer - c) Loans from commercial banks

Description: Small-scale industries often rely on loans from commercial banks as a primary source of funding for their operations and expansion.

8. Question: Which factor is crucial for the success of small-scale industries in India?

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Answer - d) Entrepreneurial skills

Description: The success of small-scale industries is often dependent on the entrepreneurial skills and management capabilities of the business owners.

9. Question: What is the primary objective of financial institutions in an economy?

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Answer - b) Facilitating economic growth and stability

Description: Financial institutions play a vital role in facilitating economic growth and stability by providing various financial services and products.

10. Question: Which term refers to the process of converting raw materials into finished goods on a small scale?

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Answer - c) Small-scale production

Description: Small-scale production involves the conversion of raw materials into finished goods on a smaller, localised scale.

11. Question: What is the primary role of venture capital in supporting entrepreneurship?

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Answer - b) Investing in new and innovative startups

Description: Venture capital is a form of financing that focuses on providing funds to new and innovative startups to support their growth.

12. Question: What is the primary goal of microfinance institutions?

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Answer - b) Providing financial services to low-income individuals

Description: Microfinance institutions aim to provide financial services, such as small loans, to individuals with low incomes who may not have access to traditional banking.

13. Question: Which factor is crucial for the growth of the entrepreneurial sector in an economy?

Correct!

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Answer - c) Innovation and risk-taking

Description: The entrepreneurial sector thrives on innovation and risk-taking, driving economic development and competitiveness.

14. Question: What is the primary role of Small Scale Industries (SSI) in the Indian economy?

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Answer - b) Generating employment and promoting decentralisation

Description: Small Scale Industries in India play a crucial role in generating employment and promoting decentralisation of economic activities.

15. Question: Which financial institution focuses on providing long-term funds for industrial development in India?

Correct!

Wrong :(

Answer - b) Small Industries Development Bank of India (SIDBI)

Description: SIDBI is specifically designed to provide long-term funds for the development of small and medium-sized industries in India.

16. Question: What does the term angel investor refer to in the context of entrepreneurship?

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Answer - a) A wealthy individual who invests in startup ventures

Description: An angel investor is an affluent individual who provides financial support to startup ventures in exchange for ownership equity.

17. Question: Which financial institution plays a key role in regulating the securities market in India?

Correct!

Wrong :(

Answer - c) Securities and Exchange Board of India (SEBI)

Description: SEBI is the regulatory body that oversees and regulates the securities market in India.

18. Question: What is the primary advantage of small-scale industries in terms of employment generation?

Correct!

Wrong :(

Answer - d) Wide distribution of employment

Description: Small-scale industries contribute to a wide distribution of employment opportunities, especially in rural and semi-urban areas.

19. Question: In the context of entrepreneurship, what does the term innovation refer to?

Correct!

Wrong :(

Answer - b) Introduction of new ideas or methods

Description: Innovation in entrepreneurship involves the introduction of new ideas, products, services, or methods that create value in the market.

20. Question: What is the primary focus of financial inclusion in the context of small-scale industries?

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Answer - b) Promoting equal access to financial services for all businesses

Description: Financial inclusion aims to ensure that all businesses, including small-scale industries, have equal access to financial services and resources.

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Question. What is/Introduction of Indian Economy

Answer. The economy of India is characterised as a developing market economy. It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity. According to the IMF, on a per capita income basis, India ranked 139th by GDP and 118th by GDP in 2018.

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