Quiz on MSME and Business Entrepreneurship

What does MSME stand for?

• Micro, Small and Medium Enterprises

• Medium, Small and Major Enterprises

• Micro, Standard and Medium Enterprises

• Major, Small and Medium Enterprises

What percentage of India's GDP is contributed by MSMEs?

• 49.66%

• 29.7%

• 60%

• 40%

Which of the following is NOT a subgroup of MSME?

• Khadi and Village Industries

• Large Scale Industries

• Handicrafts

• Handlooms

What is the primary role of MSMEs in India?

• To increase urban migration

• To reduce the agricultural workforce

• To contribute to socio-economic development

• To dominate large industries

Which of the following is a major problem faced by MSMEs?

• Abundant financial resources

• Lack of managerial talent

• Excessive government support

• High availability of raw materials

What is the investment limit for Micro Enterprises according to the MSMED Act?

• 5 Crore

• 1 Crore

• 10 Crore

• 50 Crore

Which of the following is an example of a cottage industry?

• Textile manufacturing

• Automobile assembly

• Software development

• Handmade crafts

What is the main objective of the Startup India Scheme?

• To reduce the number of MSMEs

• To increase government control over businesses

• To promote large corporations

• To build a strong ecosystem for startups

Which of the following is a characteristic of entrepreneurship?

• Risk aversion

• Dependence on large capital

• Systematic activity

• Avoidance of innovation

What is the contribution of MSMEs to India's exports?

• 40%

• 60%

• 49.66%

• 29.7%